Section 44ab

This section deals with compulsory audit of a/cs

Applicability

Person carrying on business - total sales or gross receipts exceed 60,00,000
 

Person carrying on profession - gross receipts exceeds 15,00,000
 

Person carrying on business referred to u/s 44AE,44BB or 44BBB - claiming lower income than profits and computed under these sections.

Person carrying on business referred to u/s 44AD claiming lower income than profits and computed u/s44AD(1)

Submission of report - Audit report from CA should be filed on or before 30th September of the relevant Asst Year.

       If accounts are to be audited under any other law -  Audit report under such law should be filed before 30th september.