Limit on audits u/s 44ab conducted by a chartered accountant
This query is : Resolved
Sushant Mahajan
(Querist)
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?
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
(Expert)
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.
This means that a C.A. can do any no of audit whose t/o does not exceed specified limit.
Sushant Mahajan
(Querist)
18 June 2013
Thank you Sir
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