Application of section 44 ad
This query is : Resolved
12 September 2015
If the net income of the assessee is less than 8 % ON TURNOVER the he should get his accounts audited by a ca . does this audit come under the ceiling of 60 tax auidts?
Amol S Joglekar
(Expert)
12 September 2015
yes, it comes under the ceiling of the number prescribed.
12 September 2015
Audit of books of accounts for 44AD and 44AE is not counted for the limit of 60 tax audits.
ICAI council guidelines No.1-CA(7)02/2008 dated 8-8-2008 can be referred.
ICAI council guidelines No.1-CA(7)02/2008 dated 8-8-2008 can be referred.
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