Tax audit limit will not effect in case of audit u/s 44ad
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 August 2011
Respected sir,
can u any body clearify that in case of tax audit have been done due to profit is less than 8% of t/o which is also less than mandatory limit i.e. 60lacs, than it will be count in the limit of 45 tax audit i.e. u/s 44AB. of the income tax act 1961. any care to be taken at the time of the issuing the tax audit report i.e. report u/s 44ab - form 3CA/CB and 3CD
can u any body clearify that in case of tax audit have been done due to profit is less than 8% of t/o which is also less than mandatory limit i.e. 60lacs, than it will be count in the limit of 45 tax audit i.e. u/s 44AB. of the income tax act 1961. any care to be taken at the time of the issuing the tax audit report i.e. report u/s 44ab - form 3CA/CB and 3CD
07 August 2011
No it will not be counted. Pl refer ICAI General Guidelines,2008.
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