Frequently asked questions
I am salaried Person deals in Share trading. Am I liable for Audit under any Law??
Yes, You may be liable for Audit under the Income-tax act. It is not relevant whether you are a salaried person or not. What relevant is the amount of transaction you have done. If the quantum of the transaction exceeds the prescribed limits (Turnover calculated more than 1 crore as per Income tax act), you will be liable for Income tax audit.
I have registered a LLP. What all types of audits are applicable on my LLP?? My personal Income will be cluubed in LLP??
Income tax audit will be applicable if LLP turnover is more than 1 crore (Individuals transaction not to be clubbed). If turnover is more than 40 Lakhs and less than 1 crore than audit under Limited liability act will be applicable. No audit will be applicable if turnover is below 40 Lakhs. All the personal transactions and income will be taxed separately and 2 Returns of Income will be filled. (1 Return for LLP and another return for your personal Income)
I have registered a Company. What all types of audits are applicable on my Company?? My personal Income will be cluubed in Company??
Income tax audit will be applicable if LLP turnover is more than 1 crore (Individuals transaction not to be clubbed). Audit under companies act is mandatory even if no transaction has been done on the year. All the personal transactions and income will be taxed separately and 2 Returns of Income will be filled. (1 Return for LLP and another return for your personal Income)
Turnover Limit for GST Audit.
GST audit will be applicable if turnover exceeds more than 2 crore
Auditing Services in India
Accounting and Balance sheet preparation
Audit under Companies Act
Audit under the Income Tax Act
Audit under The Limited Liability Partnership Act
Audit under Goods And Service Tax Act
Return of Companies prescribed under Companies act
Income tax Return filling
Auditing Services in India
Individuals Liable Under Income tax Audit
Companies Registered under Companies Act
LLP registered under the Limited Liability Partnership Act
Persons Liable for GST Audit
Any other person liable under any Law
Bank statements
Purchase Bills
Sales bills
expenses Bills
Agreement With Parties
Previous Year Balance sheet
Interest certificates
Donation Receipts
Any other Document, If required
| Professional Fee | 9999 |
* Estimate Time for Service Completion
7 Days
I am salaried Person deals in Share trading. Am I liable for Audit under any Law??
Yes, You may be liable for Audit under the Income-tax act. It is not relevant whether you are a salaried person or not. What relevant is the amount of transaction you have done. If the quantum of the transaction exceeds the prescribed limits (Turnover calculated more than 1 crore as per Income tax act), you will be liable for Income tax audit.
I have registered a LLP. What all types of audits are applicable on my LLP?? My personal Income will be cluubed in LLP??
Income tax audit will be applicable if LLP turnover is more than 1 crore (Individuals transaction not to be clubbed). If turnover is more than 40 Lakhs and less than 1 crore than audit under Limited liability act will be applicable. No audit will be applicable if turnover is below 40 Lakhs. All the personal transactions and income will be taxed separately and 2 Returns of Income will be filled. (1 Return for LLP and another return for your personal Income)
I have registered a Company. What all types of audits are applicable on my Company?? My personal Income will be cluubed in Company??
Income tax audit will be applicable if LLP turnover is more than 1 crore (Individuals transaction not to be clubbed). Audit under companies act is mandatory even if no transaction has been done on the year. All the personal transactions and income will be taxed separately and 2 Returns of Income will be filled. (1 Return for LLP and another return for your personal Income)
Turnover Limit for GST Audit.
GST audit will be applicable if turnover exceeds more than 2 crore