IF THE TURNOVER OF AN INDIVIDUAL IS 1.5 CRORE AND HE SHOWS PROFIT LESS THAN 8 PERCENT , WILL THE TAX AUDIT BE COUNTED UNDER THE CEILING LIMIT OF 60 OF A CHARTERED ACCOUNTANT . THIS CONFUSION ARISES BECAUSE AS PER ICAI AUDIT UNDER 44AD IS EXCLUDED FROM SIGNING LIMIT .
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TAX AUDIT SIGNING LIMIT
Replies (5)
Yes... The specified limit restrict in 44AB. not to 44Ad.
The ceiling of 60 does not include audit cases under 44AD
The restriction on maximum no. of audits applicable to 44AB only
Can you elaborate audit under 44ad , does it include cases from 1 to 2 crore
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