ceiling of tax audit u/s 44AF

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Ankit Garg

Ankit Garg (Querist)
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18 March 2011 Tax Audit u/s 44AF (Net Profit less than 8%)will count for the ceiling of tax audit of a C.A. or not?

Aditya Maheshwari

Aditya Maheshwari (Expert)
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18 March 2011 As per The Council General Guidelines, 2008, dated 8-8-2008, the audits conducted under sections 44AD, 44AE and 44AF of the Income-tax Act,1961 shall not be taken into account for the purpose of reckoning the "specified number of tax audit assignments." The increase in the monetary limit under the Income-tax Act does not affect the Guidelines in any way

Ankit Garg

Ankit Garg (Querist)
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21 March 2011 Thanks
I have forgotten the year in which Guidelines issued (i.e. 2008)
Thanks again

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