05 August 2011
As per a Council decision, audits of accounts of persons carrying on business covered by sections 44AD, 44AE or 44AF, 44BB or 44BBB is not included in the aforesaid limit. As per Finance Act 2003, section 44BB and section 44BBB have also been added to aforementioned three sections. [Para 9.16 of the Guidance Note on Tax Audit under section 44AB of the Income Tax Act, 1961 (Revised 2005 edition) issued by the ICAI]. CA MANOJ GUPTA JODHPUR 09828510543
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