Service Details:
| Service Location | Pan India |
| Qualifications | CA |
| Firm Type | Individual |
| GST Filing Services | Yes |
| Professional Type | CA (Practicing) |
| Areas of expertise | Auditing and Assurance |
The price is the Basic Price may get increase based on work and complexion.
Normally Two Typers of Audit applicable.
Company Audit
Applicable -
The Company Audit is applicable to every company OPC Company, Small Company, Private Limited Company, Public Limited Company, & Listed Company.
There is no Turnover Limit for company Audit
There is no Pofit Limit for Company Audit
There is no Networth Limit for Company Audit
Each and every company required to get Company Audit from a Chartered Accountant i.e. CA in Practice.
FAQs -
My Sales/Turnover is Zero, still company Audit required?
Yes.
What if my company audit not done?
If company's accocunts are not audited then there will be many consequences in Term of penaly, Notice, Jail etc.
Tax Audit or Income Tax Audit -
General Applicability -
If Turnover/Sales of Business is more than 1 Crores then Tax Audit is Applicable to your Business.
Important Note -
- If you are Proprietor or HUF or Partnership Firm then
if you declare 6% or 8% profit then Income Tax Audit is not applicable.
- If you declared less than 6%/8% profit then Tax Audit is compulsory.
(Note - Turnover / Sales not more than 2 Crores).
- If your total payment and receipts in cash not more than 5% of total Receipt and Payment then till 10 Crores Turnover Income Tax Audit is not applicable.
If you are professional then Turnover Limit is 50 Lakh.
Due Date - 30.09.20xx (2022) 30th September.
Penalty - 0.5% of Turnover
Maximum Penalty of Income Tax Audit is 1,50,000 (One Lacs fifty thousand).
Disclaimer - the above write ups are written generally for specific opinion contact us.
