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Audit u/s 44ad

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(Querist)
09 August 2013 A COMPANY HAVING TURNOVE LESS THAN 1 CRORE AND NET PROFIT OF RS 50,000

IS COMPANY REQUIRED TO BE AUDITED U/S 44AD?
OR UNDER INCOME TAX ACT
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
09 August 2013 if profit is shown less then 8% then it is required to be audited u/s 44AD.
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kunal

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kunal (Querist)
09 August 2013 sir section 44AD IS NOT APPLICABLE ON CORPORATE ASSESSEE
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
09 August 2013 it is optional and not mandatory to any1 who is not liable to tax audit u/s 44AB.
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kunal

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kunal (Querist)
09 August 2013 is there any prescribed format for audit of accounts under companies act?
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
09 August 2013 yes, Company Auditor report order (CARO) rules as per companies rules is applicable format.
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kunal

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kunal (Querist)
09 August 2013 THAT MEANS IN THE ABOVE CASE.. I DONT HAVE TO PREPARE FORM 3CD?
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