Limit on audits u/s 44ab conducted by a chartered accountant
This query is : Resolved
07 May 2013
Since, ICAI had imposed a restriction on the number of audits conucted by a Chartered Accountant under section 44AB, by imposing a ceiling of 45 on it.
My query is whether those assessees whose turnover do not exceed the limit speciefied , ex, for the current year limit of Rs. 1 crore for compulsory audit of accounts under section 44AB,
then will the audit of such assessees conducted by a chertered accountant be counted while calculating the limit of 45 imposed by ICAI?
My query is whether those assessees whose turnover do not exceed the limit speciefied , ex, for the current year limit of Rs. 1 crore for compulsory audit of accounts under section 44AB,
then will the audit of such assessees conducted by a chertered accountant be counted while calculating the limit of 45 imposed by ICAI?
08 May 2013
Your Query is not clear.
If you are asking about audit conducted under sec 44AD/E/ then yes these audits are not included in the ceiling limit of 45.
If you are asking about audit conducted under sec 44AD/E/ then yes these audits are not included in the ceiling limit of 45.
08 May 2013
I am asking that if an assessee whose turnover in f.y. 2012-13 does not exceed Rs. 1 crore and he wants to get his accounts audited so that he does not have to show 8% profit on turnover,
then in this case , will the audit conducted by a chartered accountant be included while calculating the ceiling of 45 audits imposed by ICAI?
then in this case , will the audit conducted by a chartered accountant be included while calculating the ceiling of 45 audits imposed by ICAI?
11 May 2013
No
I already answered that
Section 44AD audit will not be included in ceiling limit of 45.
Regards
I already answered that
Section 44AD audit will not be included in ceiling limit of 45.
Regards
Message likes :
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18 June 2013
Thank you Mam
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