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Audit report- 44ad & 44ab

CA Shruti Gupta (CMA FINAL CS Final) (1434 Points)

24 June 2013

please help me

at the time of filing audit report how can i compute tax audit limit of 45 as audit report is required in case of audit u/s 44ab and 44ad where income is below 8% of gross turnover...

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Saurabh Maheshwari (B.com,ACA) (5923 Points)
Replied 24 June 2013

As per Guidance Note isued by ICAI in respect of Tax audit...ICAI has clarified that audits carried under sec 44AD,44BB,44BBA(presumptiove cases) will not be counted for the purpose of audit limit of 45

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CA Shruti Gupta (CMA FINAL CS Final) (1434 Points)
Replied 24 June 2013

but at the time of filing report how i can mention that this is report u/s 44ad

Saurabh Maheshwari (B.com,ACA) (5923 Points)
Replied 24 June 2013

As per Notifications dated June 17 and May 13,2013 as issued by ITD audit reports u/s 44AB , 115JB,80JJAA,92E etc need to be e-filed....it means that audit u/s 44AD is required to be filed manually.

as per earlier practice....but in case the same also to be e-filed then there will be definately an option to select the filling section....I think till today the fe-filling facility for audit reports has not started ...ITD has just provided excel utility long before in Nov 2012.

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CA Shruti Gupta (CMA FINAL CS Final) (1434 Points)
Replied 24 June 2013

Thanks Saurabh

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(Guest)

Tx audit can be conducted only u/s 44AB and Every report are required to be e filed whether 44AB or 44AD. No audit can be conducted u/s 44AD. Sec 44AD says that the assessee has to get his account audited u/s 44AB if he declares lower income than 8%.

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