Kishan Reddy (Practicing Chartered Accountant) (103 Points)
08 September 2013Hello Sir,
Whether 44AD signature cover under 45 ceiling limit.
whether we need to give audit reports 3CB, 3CD
Deepak Gupta
(CA Student)
(15922 Points)
Replied 08 September 2013
| Originally posted by : kishan reddy | ||
 |
Hello Sir, 1) Whether 44AD signature cover under 45 ceiling limit. 2) whether we need to give audit reports 3CB, 3CD |
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1) As per the Council Guidelines No.1-CA(7)/02/2008, dated 8th August, 2008, audit of books of account of persons carrying on businesses covered by sections 44AD and 44AE, is not included for the purpose of reckoning the “specified number of tax audit assignments”.
.
2) Tax Audit report is required to be given in Form 3CB, 3CD, IF
a) Turnover is below 1 crore and profit below presumptive rate i.e. 8%, and
b) Total income exceed the maximum amount which is not chargeable to tax
CA BHUMIT SHAH
(Consultant )
(270 Points)
Replied 08 September 2013
Yes i Completely agree with deepak that Audit u/s 44AD & 44AE are not to be counted while computing ceiling of 45 Tax Audit
Ritzz
(CA Final - Article )
(365 Points)
Replied 09 September 2013
No, tax audits under Sections 44 AD & AE are not to be counted under the 45 Tax Audits ceiling.
Regards
vishal
(Student)
(31 Points)
Replied 09 September 2013
Deepesh Ashwin Shah
(Chartered Accountant)
(141 Points)
Replied 09 September 2013
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