maximum tax audit allowed to CA ?
audit between 1 crore to 2 crore is considered in celling if how if no why? plz guide
20 Replies
Eswar Reddy S
(CFO- at NHTF)
(58275 Points)
Replied 03 September 2022
Since Turnover is above 1 crore and if tax audit is done then it will be considered
CA Rashmi Gandhi
(Chartered Accountant)
(86461 Points)
Replied 03 September 2022
No ceiling between 1 to 2 crore
veerendar singh
(tax consultant)
(3306 Points)
Replied 03 September 2022
From where do you get these limits? is it prescribed anywhere?
Eswar Reddy S
(CFO- at NHTF)
(58275 Points)
Replied 03 September 2022
Tax audit is mandatory if turnover is above 1 crore for business and
50Lakhs for profession
50Lakhs for profession
amol bramhankar
(artical tranee)
(276 Points)
Replied 03 September 2022
But as per 44ad limit is 2 cr why it's considered
Eswar Reddy S
(CFO- at NHTF)
(58275 Points)
Replied 03 September 2022
That is for presumptive Taxation..If the profit is less than 8/6% then there also audit is required
CA Rashmi Gandhi
(Chartered Accountant)
(86461 Points)
Replied 03 September 2022
Upto 2 crore audit was under sec 44AD and limit was for cases other than covered under 44AD
Eswar Reddy S
(CFO- at NHTF)
(58275 Points)
Replied 03 September 2022
But it will not covered in the ceiling limit since one can go for ITR filing without audit if profit is above 6/8%
CA Rashmi Gandhi
(Chartered Accountant)
(86461 Points)
Replied 03 September 2022
Here ceiling limit for CA asked for not profit % understand query first and same is already replied by you
Eswar Reddy S
(CFO- at NHTF)
(58275 Points)
Replied 03 September 2022
First you understand..If it is Audit then only it will be covered in celing..Presumptive taxation is a relaxation.But based on profit tax audit may applicable
CA Rashmi Gandhi
(Chartered Accountant)
(86461 Points)
Replied 03 September 2022
Sir, please stop putting on your fingers I'd your don't know it. Every CA ca do maximum number of audits in a year and question related to that. So wait for healthy dicussion by someone known.
Eswar Reddy S
(CFO- at NHTF)
(58275 Points)
Replied 03 September 2022
You can read the Section once . If you don't know then whatever you know is not correct..
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