Tax audit

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Querist : Anonymous

Querist : Anonymous (Querist)

21 September 2014 AN INDIVIDUAL ASSESSEE WANT TO GET HIS ACCOUNT AUDIT BUT HIS TOTAL RECEIPTS IS RS.1400000 AND NET PROFIT IS 650000.
SO PLEASE TELL ME THAT UNDER WHICH SECTION IT SHOULD BE AUDITED?
AS PER ME IT SHOULD NOT BE AUDITED UNDER 44AB.
WHETHER FORM 3CD IS ALSO REQUIRED TO BE GIVEN?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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21 September 2014 well audit is not applicable to this case.

Querist : Anonymous

Querist : Anonymous (Querist)

21 September 2014 YES I KNOW,BUT CLIENT WANT TO GET HIS ACCOUNT AUDITED/

Nikhil Kaushik

Nikhil Kaushik (Expert)
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21 September 2014 audit is done under a particular clause of 44AB...tell me under which clause will you audit?

Querist : Anonymous

Querist : Anonymous (Querist)

21 September 2014 Thats what i am also asking.
Please tell me that if a person what to get his accounts audited irrespective of the gross receipts,then it can't be audited as his gross receipts doesn't goes above crore??
That's can't be the answer.
If client is ready for audit then we should not have any problme/

Nikhil Kaushik

Nikhil Kaushik (Expert)
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21 September 2014 the answer is you cannot to the tax audit unless it falls under 44AB. You can certify his accounts but that makes no difference to tax authorities and his due date for filing return will remain 31 July only

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Querist : Anonymous

Querist : Anonymous (Querist)

21 September 2014 Can't we do under section 44AD?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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21 September 2014 when is audit done under 44AD...for 44AD(5) cases, audit is done under 44AB(d).

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