22 December 2008
1. An individual have 2 properietorship concenrs A & B. Turnover of A is Rs. 45 Lacs & B is Rs. 50 Lacs. He have to take 2 Tax audit report?
2. A CA can sign 45 Tax Audits, if he sings the above 2 audits, how much remaining he can sign - 44 or 43?
22 December 2008
He should obtain one Audit Report for both the businesses. It is the person which is covered by section 44AB. In the given case proprietor is to be counted as one person only. In view of this CA can sign Tax Audit reports for another 44 persons.
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