Audit by CAG

DINESH SATIJA (Querist) 17 October 2018 This query is : Resolved
by on 17 October 2018

CAN A SOCIETY WHICH HAS BEEN EXEMPTED FROM THE PAYMENT OF INCOME TAX AND SERVICE TAX AS WELL BE AUDITED BY CAG. THE TOTAL AMOUNT SAVED BY THE SOCIETY ON ACCOUNT OF INCOME TAX AND SERVICE TAX PER YEAR IS AROUND INR 150 CR.

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KISHAN DUTT KALASKAR (Expert) 18 October 2018
Dear Sir,
The is not clear as to what clarification you need. Further it is better you contact any Chartered Accountant for more clarity.

P. Venu (Expert) 18 October 2018
The facts posted suggested no issues.

Guest (Expert) 18 October 2018
Repeated question. Already replied at the following link;

http://www.lawyersclubindia.com/experts/Audit-by-CAG-695096.asp

Dr J C Vashista (Expert) 19 October 2018
See reply in original link.

Dr J C Vashista (Expert) 19 October 2018
What is your locus standie to the query vis-a-vis Society created by IAF for group insurance of its combatant personnel ?
The accounts of such Society is not to be audited by CAG but its annual statement is being audited and circulated to concerned Wing/units through Commanding Officers for information of all members of the group.

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