07 May 2013
Since, ICAI had imposed a restriction on the number of audits conucted by a Chartered Accountant under section 44AB, by imposing a ceiling of 45 on it.
My query is whether those assessees whose turnover do not exceed the limit speciefied , ex, for the current year limit of Rs. 1 crore for compulsory audit of accounts under section 44AB,
then will the audit of such assessees conducted by a chertered accountant be counted while calculating the limit of 45 imposed by ICAI?
08 May 2013
I am asking that if an assessee whose turnover in f.y. 2012-13 does not exceed Rs. 1 crore and he wants to get his accounts audited so that he does not have to show 8% profit on turnover,
then in this case , will the audit conducted by a chartered accountant be included while calculating the ceiling of 45 audits imposed by ICAI?
CAclubindia
