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tax audit limit

Statutory Audit 5104 views 20 replies

if a practising ca firm has three partners,the combined tax audit limit of the firm is 135ie.,45 each per partner.Can a single partner can sign more than 45 audits,Even if the entire firms limit is maintainedto 135.or each partner should sign 45 audits equally.

 

pl let me know

thanks

 

Replies (20)

Each partner should sign 45 audit reports.

 agree

Agree.Each Partner should Sign 45 .

It is not required to sign audit report each partner equally.

one partner may make sign more than 45 Tax Audit report on the behalf of another partner of the firm.

sorry santosh singh, but the ceiling limit on tax audit is based on individual C.A. not the firm as a whole.

i agree with ssg each partner have 45

45 tax Audit Each Partner..

hey love arora,u r making d studentr misguided...the limit is for partner themselves saperately. so a partner cant sign more den 45 reports.

tax audit limit for firm is 45 per partner  & any partner can sign all audit report  within over all limit i.e 135 in this case

Agree

Originally posted by :vinod bajaj
" Each partner will sign 45 reports  "


 

Any partner can sign all audit report  within over all limit i.e 135 in this case

only a partner can sign 45 nos..... the maximum no a firm can  sign is 135  since because of 3 partners.....

When any partner signs the tax audit report of the entity, whose audit is conducted by some other partner of the firm, the principal of agency comes int picture. But no where in law, it is mentioned that each partner should sign 45 tax audits. Only the words undertake, conduct and accept has been used.  

Further the assignment is being taken up by the Firm and not the individual partners, so any partner can sign on behalf of the firm.

So in my opinion any single partner can sign more than 45 audits on behalf of other partners of the firm


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