Limit on audits u/s 44ab conducted by a chartered accountant

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Sushant Mahajan (Querist)
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07 May 2013 Since, ICAI had imposed a restriction on the number of audits conucted by a Chartered Accountant under section 44AB, by imposing a ceiling of 45 on it.

My query is whether those assessees whose turnover do not exceed the limit speciefied , ex, for the current year limit of Rs. 1 crore for compulsory audit of accounts under section 44AB,

then will the audit of such assessees conducted by a chertered accountant be counted while calculating the limit of 45 imposed by ICAI?

Akriti Bhatia

Akriti Bhatia (Expert)
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08 May 2013 Your Query is not clear.

If you are asking about audit conducted under sec 44AD/E/ then yes these audits are not included in the ceiling limit of 45.

Sushant Mahajan

Sushant Mahajan (Querist)
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08 May 2013 I am asking that if an assessee whose turnover in f.y. 2012-13 does not exceed Rs. 1 crore and he wants to get his accounts audited so that he does not have to show 8% profit on turnover,

then in this case , will the audit conducted by a chartered accountant be included while calculating the ceiling of 45 audits imposed by ICAI?

Akriti Bhatia

Akriti Bhatia (Expert)
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11 May 2013 No

I already answered that
Section 44AD audit will not be included in ceiling limit of 45.

Regards

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Sushant Mahajan

Sushant Mahajan (Querist)
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18 June 2013 Thank you Mam

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