Tax audit u/s 44ab

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 June 2014 An auditor had audited a sole - Proprietorship concern for the F.Y 2007-08 u/s 44AB on 18.09.2008 i.e within due time and return submitted accordingly in due time on the basis of such accounts.

Now whether is it possible for another auditor to certify a revised accounts for the same F.Y 2007-08 on 07.01.2014 u/s 44AB

Nikhil Kaushik

Nikhil Kaushik (Expert)
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13 June 2014 a tax audit report can be revised only under certain circumstances. if any of these circumstances can be satisfied, you can submit the revised audit report.

a return can be revised under following circumstances:

(i) revision of accounts of a company after its adoption in annual general meeting.

(ii) change of law e.g., retrospective amendment.

(iii) change in interpretation, e.g. CBDT’s circular, judgments, etc.

(iv)Any other reason like system/software error requiring change in report already
uploaded.

In case, where a member is called upon to report on the revised accounts, then he must mention in the revised report that the said report is a revised report and a reference should be made to the earlier report also. In the revised report, reasons for revising the report should also be mentioned.

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