44ad audits
This query is : Resolved
12 June 2011
CAN ANYONE PLEASE INFORM ME REGARDING WHETHER AUDIT CONDUCTED U/S.44AD WHERE THE TURNOVER IS LESS THAN 60 LAKHS IS COVERED UNDER THE LIMIT OF 45 AUDITS PER CHARTERED ACCOUNTANT?
CA PARAS BAFNA
(Expert)
12 June 2011
As it is an Audit U/s 44AB, it is covered
under the limit.
under the limit.
12 June 2011
ICAI general guidlines says as follows:-
Provided also that the audits conducted under Section 44AD, 44AE and
44AF of the Income Tax Act, 1961 shall not be taken into account for the purpose
of reckoning the “specified number (now 45)of tax audit assignments”.
Provided also that the audits conducted under Section 44AD, 44AE and
44AF of the Income Tax Act, 1961 shall not be taken into account for the purpose
of reckoning the “specified number (now 45)of tax audit assignments”.
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