Am i right when I am of the opinion that audit u/s 44AB where the turnover is below Rs.1.00 Crore is not to be counted while taking the limit of 45.
Am i right when I am of the opinion that audit u/s 44AB where the turnover is below Rs.1.00 Crore is not to be counted while taking the limit of 45.
| Originally posted by : vijay kumar | ||
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Am i right when I am of the opinion that audit u/s 44AB where the turnover is below Rs.1.00 Crore is not to be counted while taking the limit of 45. |
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As per the Council Guidelines No.1-CA(7)/02/2008, dated 8th August, 2008, audit of books of account of persons carrying on businesses covered by sections 44AD and 44AE, is not included for the purpose of reckoning the “specified number of tax audit assignments”.
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