Audit report for ....
BUT THE 3CD IS ELIGIBLE FOR THOSE WHOM HAVING UPTO 1CR AND MORE THAN 1CRORE T.OVER.
SO FOR THE ABOVE ASSESSEE WHICH AUDIT REPORT TO BE SUBMITTED WITH I.T. RETURN SUBMISSION
Umesh, no audit is conducted under 44AD. Audit is always conducted under 44AB.
audit, u/s 44AD
Further, Rule 6G reads as follows :
6G. (1) The report of audit of the accounts of a person required to be furnished under section 44AB shall,—
(a) in the case of a person who carries on business or profession and who is required by or under any other law to get his accounts audited, be in Form No. 3CA;
(b) in the case of a person who carries on business or profession, but not being a person referred to in clause (a), be in Form No. 3CB.
(2) The particulars which are required to be furnished under section 44AB shall be in Form No. 3CD.]
Hence Assesse declaring lower profit than prescribed under 44AD is required to get the accounts audited and file the report with income tax in Form 3CA/3CB and 3CD.
plz read 4th proviso of guidelines no 6.
http://abcaus.in/icai/taxauditlimitincreasedtosixty.html
It is the language used by ICAI itself.
comments awaited.
plz read 4th proviso of guidelines no 6.
http://abcaus.in/icai/taxauditlimitincreasedtosixty.html
It is the language used by ICAI itself.
comments awaited.
What ICAI clarified was that the audits conducted on account of 44AD(5) wont be counted against the sanctioned limits of audit per chartered accountant. So please don't confuse it to mean that audit report itself can be submitted under section 44AD.
you have to judge............
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