Didn’t understand your query?
Tax Auditor has to report on Apr – Mar , period can be shorter if new business , but there is no calendar year option
XYZ Pvt Ltd is engaged in the wholesale business of buying and selling silk sarees. The accounts are maintained under the companies act from 1st Oct to 30 Sept each year. The Chief accountant of the company is requesting the tax auditor to conduct tax audit u/s 44AB of IT Act for the period for which accounts have been maintained under companies act. As the tax auditor of XYZ Pvt Ltd, how will you react to the Chief Accountant’s request ? The ans has a reference of a circular for this, can you please explain the Circular No. 561 dated 22.5.90 (May 2003 – 8 Mrks)
As per 128, they are prepared for financial year so the question of different reporting periods wont arise. Please correct if i m wrong.
tax auditor will have to conduct, audit again from april to march and issue report in form 3CB and not 3CA which is generally used for companies
same thing is clarified in circular
Thnk u Sir…!!!!!