Tax audit

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kunal (Querist)
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05 December 2012 sir,
U/S 44AD IF assessee's turnover is less than 1 crore and he claim his income lower than 8%
then he has to get his accounts audited u/s 44AB

sir now my question is:
is that audit u/s 44AB included in 45 tax audit limit of a chartered accountant ??

CA Roshan Jha

CA Roshan Jha (Expert)
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05 December 2012 Yes, it will be included.

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kunal

kunal (Querist)
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05 December 2012 but sir it is clearly mentioned u/s 44AB that every person carrying on business shall, if his total sales, turnover or gross receipts , as the case may be , in business exceed or exceeds 1 crore rupee..
and u/s 44AD an assessee always has turover less than rs 1 crore..??

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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05 December 2012 Audit u/s 44AD will not be counted for the limit of 45 audits.
Courtesy :- 5th para of clause 6.0 of Council Guidelines No.1-CA(7)/02/2008, dated 8th August,2008.

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kunal

kunal (Querist)
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05 December 2012 thank you sir.

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