05 May 2008
is thr any ceiling of 30 TOTAL audits by the ICAI? or that has been enhanced to 45? and where as the cos. act says of 20 co. audits in which not more than 10 be of co. having a capital of 25 lacs.? plz elaborate
06 May 2008
in icome tax tax audit maximum limit is 45 but in co. act the limit is 20 but this is exclude whose authrised capital is less than 25 lakhs so if you have pub.ltd.co.& pvt.ltd co. the ceiling limit is as per co. act in income tax there is no.bifurcation ind/partnership/pvt ltd/pub.ltd/huf/aop so on
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