44ad audit

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CA BIREN SHAH

CA BIREN SHAH (Querist)
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04 May 2012 Sir,
whether audit u/s 44AD will be counted in the tax audit limit of 45 which is for each practicing ca?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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04 May 2012 No sir, it will not be counted.

(AD means Additional.)

CA PRAVEEN SINGH

CA PRAVEEN SINGH (Expert)
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05 May 2012 YES...AGREE WITH ABOVE.
V.IMP QUES ASKED.
IT IS A ADDITIONAL AUDIT.

CA BIREN SHAH

CA BIREN SHAH (Querist)
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05 May 2012 sir, can i have this provision written some where so that i can show it some one?

Amol Gopal Kabra (CA,CS,DISA)

Amol Gopal Kabra (CA,CS,DISA) (Expert)
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07 May 2012 It is given in the Guidance Note on Tax Audit issued by ICAI.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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07 May 2012 You may find the same on ICAI's web-site

by following the link -

https://icai.org/new_post.html?post_id=7943

Which reads as under :
Clarification for reckoning the “specified number of tax audit assignments” conducted under section 44AB of the Income-tax Act, 1961.- (13-12-2011)
..

The Council at its 311th meeting held on 8thand 9th November, 2011 clarified that audit prescribed under any statute which requires the audit report in the form as prescribed under section 44AB of the Income-tax Act, shall not be considered for the purpose of reckoning the specified number of tax audit assignments if the turnover of the auditee is below the turnover limit specified in section 44AB of the Income-tax Act, 1961. For instance audit under section 44AD, audit under DVAT, 2004 (for turnover between 40 to 60 Lakhs) etc. will not be considered for inclusion in the present limit of 45 audits.
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