if we done audit u/s 44AD (sale 90 lakh and NP 5%) then are these type of audits will count in the prescribed limit (45) of tax audit or not? And which type of reports are required to prepare in case of audit u/s 44AD?
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Limits of tax audit
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| Originally posted by : CA ANKIT KANSAL | ||
 |
if we done audit u/s 44AD (sale 90 lakh and NP 5%) then are these type of audits will count in the prescribed limit (45) of tax audit or not? And which type of reports are required to prepare in case of audit u/s 44AD? |
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No.
Refer page 316 of Code of Ethics, 2009 (Chapter-6 of the Council General Guidelines, 2008 issued under clause (i) of Part II of the Second Schedule).
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