Income-Tax Audit u/s 44AB - Limit

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Querist : Anonymous

Querist : Anonymous (Querist)

01 July 2011 I have done Branch Statutory Audit of 3 Branches of a Nationalised Bank.My query is:-

1.Should I do 42 tax audits u/s 44 AB?
2.Should I do 44 tax audits u/s 44AB ?
3.Should I do 45 tax audits u/s 44AB?

Which is the appropriate answer in this context.Expect a correct answer.

Best Regards.

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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01 July 2011 Your question is not clear. For bank branches audit of Bank alongwith 44AB audit is required to be done.

Querist : Anonymous

Querist : Anonymous (Querist)

01 July 2011 Yes,3 Tax audits for 3 Branches.I want to know whether this will be included in 45 or not.If so,then I am eligible for another 42 Tax Audits....Please clarify.

Regards

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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02 July 2011 Yes will be included in 45. U are eligible for another 44 ,because three branches of an auditee will be considered as one audit vide clause 6.1.4 of Council Guidelines No.1-CA(7)/02/2008, dated 8th August,2008.

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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02 July 2011 I agree with Chakarpani

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