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?

CA Kalpesh Jain

CA Kalpesh Jain (Expert)
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17 May 2013 Audit of those assesses whose accounts are audited without exceeding the limit i.e 1 cr would not be counted in the 45 audit limit.

This means that a C.A. can do any no of audit whose t/o does not exceed specified limit.

Sushant Mahajan

Sushant Mahajan (Querist)
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18 June 2013 Thank you Sir

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