FURNISHING OF AUDIT REPORT UNDER SECTION 49

[S.C. WADHWA]

A factory, registered as a limited company, in haryana has a depot in delhi. All manufacturing activities are carried out in haryana.Apart from sales from factory, Goods are sent to Depot in delhi for sale. Company is required to get its account audited under Section 44AB of Income tax Act, 1961. Depot in delhi is registered under DVAT Act.

Query is:

Whether depot in Delhi is required to get its account audited under Section 49 of Dvat Act. Whether we are required to submit report of audit under section 44AB to DVAT authorities.

AI Summary

Delhi Depot Exempt from DVAT Audit; No Need to Submit Section 44AB Report to DVAT Authorities. A factory in Haryana, registered as a limited company, operates a depot in Delhi where goods are sent for sale. The company is required to have its accounts audited under Section 44AB of the Income Tax Act, 1961. The query raised was whether the Delhi depot needs a separate audit under Section 49 of the DVAT Act and if the audit report under Section 44AB must be submitted to DVAT authorities. The response clarified that the requirement for auditing accounts under DVAT has been removed by the Kejriwal government, and there is no need to file the audit report under Section 44AB with DVAT authorities.