Audit limit

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Guest

Guest (Querist)

01 August 2011 sir, as w know one ca can accept 45 tax audit maximum..
today i read kamal garg book..i read same line with ..." maximum 30 audit u/s 224/228 can be accepted"

sir, as per my knowledge ca can accept 45 audit...of whoich only 20be companies..subject to limit of public co. having. 25 or more paid up share capital be 10.

please clarify the matter....

CA Ashwani Agarwal

CA Ashwani Agarwal (Expert)
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01 August 2011 Section 224/228 of the companies Act talks about statutory audits of a Company.

While tax audit is covered by I.T.Act. the limit of tax audit is given in the CA Act and regulations.

So while you can do 45 tax audits of proprietory, HUF or partnerships.

You cannot accept more than 30 statutary audits.

Satyendra

Satyendra (Expert)
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01 August 2011 Dear Rikin,

Don't Confused with Limit mentioned for Statutory Audit & Tax Audit. These are two separate limit and their is no link in between them.

One CA can sing 45 Tax Audit report and 30 Statutory Audit report simultaneously.

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