Format of audit report if audit covering u/s 44ad
This query is : Resolved
CA. SUNIL KUMAR PATEL
(Querist)
15 September 2011
PLEASE SEND FORMAT OF AUDIT REPORT IF AUDIT MADE U/S 44AD, MEANS LOWER RATE OF PROFIT ( FROM 8%)
16 September 2011
There is no separate form of audit report is provided. Once you are out of the section 44AD the provisions of Section 44AB shall be applicable and for 44AB 3CB and 3CD (3CA is applicable only to those concerns where any statotory audit is applicable. Section 44AD is applicable only to individual, huf and partnership firm only. So no question of 3CA here.)
If the audit is applicable to to the assessee owing to non compliance with section 44AD, then next year onwards, the TDS provision shall be applicable to the assesse.
If the audit is applicable to to the assessee owing to non compliance with section 44AD, then next year onwards, the TDS provision shall be applicable to the assesse.
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