Tirth Patel asked 3 years ago
In case of companies to whom tax audit is also applicable, we don’t have to check the limit of indebtedness as per Audit under Income tax act, since companies are governed by companies act and by mandatory audit under companies act.
Is there any different opinion on this?
1 Answers
Ravi Staff answered 3 years ago
yes disqualification of tax audit for company and other assesses are different.
for tax audit of company disqualifications are same as company audit.
this will impact indebtedness level allowed for tax audit.
so indebtedness for
tax audit of company is 5,00,000
tax audit of other assesses is ZERO
further check this link also
For a CA in practice, till what amount can he be indebted to a partnership firm for TAX AUDIT?