Tax audit u/s. 44ab of income tax act, 1961

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Querist : Anonymous

Querist : Anonymous (Querist)

23 June 2012 In the abovementioned section one can audit 45 Tax Audits u/s. 44AB of IT Act, 1961. Audit which is referred in Section 44AD of the said act whether be included in the abovementioned figure of 45 Tax Audits or not?

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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23 June 2012 Yes it will be covered because it is also u/s 44AB.

CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
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23 June 2012 Dear Author and Mr. Siddhartha,

As per Council decision, audits of accounts u/s 44AD, 44AE, 44AF, 44BB, 44BBB etc are not included in the limit of 45 tax audits.

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Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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23 June 2012 ICAI vide its 311 th meeting dated 8/9 November,2011 clarified that audit u/s 44AD will not be considered for inclusion in the present limit of 45 audits.