Form of Audit Report u/s 44AD

Admire to CA (student) (60 Points)
Replied 19 May 2011

No Audit Report required ,for filling the return under section 44A/D.

Plz tell in detail what ur asking about the TDS Provisions with regard to the case.

Amol Gopal Kabra (CA,CS,DISA) (Practicing CA) (8539 Points)
Replied 19 May 2011

There is no need to maintain books of accounts or get them audited if the assessee opts for Section 44AD. However, i think you have mistaken in asking the question. I think you needed to ask what is the form of audit report if the profit of the assessee is less than the one required by section 44AD. If this is the question, the reply is same forms as applicable to section 44AB i.e. 3CB and 3CD (3CA is applicable only to those concerns where any statotory audit is applicable. Section 44AD is applicable only to individual, huf and partnership firm only. So no question of 3CA here.)

If the audit is applicable to to the assessee owing to non compliance with section 44AD, then next year onwards, the TDS provision shall be applicable to the assesse.

3 Like

suman (Auditor ) (388 Points)
Replied 19 May 2011

I am assuming that your clint has opted to show less than 8% profit under sec.44 AD in that case they need to get report in 3CD & if clint is Pvt ltd co.than form 3ca if partnership firm than 3cb.

CA Ayush Agarwal (Kolkata-Pune-Mumbai) (27186 Points)
Replied 19 May 2011

Originally posted by : Amol Gopal Kabra (CA,CS,DISA)
	There is no need to maintain books of accounts or get them audited if the assessee opts for Section 44AD. However, i think you have mistaken in asking the question. I think you needed to ask what is the form of audit report if the profit of the assessee is less than the one required by section 44AD. If this is the question, the reply is same forms as applicable to section 44AB i.e. 3CB and 3CD (3CA is applicable only to those concerns where any statotory audit is applicable. Section 44AD is applicable only to individual, huf and partnership firm only. So no question of 3CA here.) If the audit is applicable to to the assessee owing to non compliance with section 44AD, then next year onwards, the TDS provision shall be applicable to the assesse.

Fully AGREED With Amol Sir

ANIL KUMAR JAIN (PRACTISING CONSULTANT) (65 Points)
Replied 19 May 2011

Originally posted by : suman
	I am assuming that your clint has opted to show less than 8% profit under sec.44 AD in that case they need to get report in 3CD & if clint is Pvt ltd co.than form 3ca if partnership firm than 3cb.

AGREE WID SUMAN MADAM

Lalit Talesra (B.Sc.) (Student CA & CS Final ) (29 Points)
Replied 13 July 2011

Greetings to All.

If Assessee is required to get his books of Account audited u/s 44AD read with Sec. clause (c) of Section 44AB, then in this case, From next year TDS provision would not apply to hime because in almost all section pertaining to TDS enforcing to deduct TDS, only clause (a) and (b) have been referred not clause (c ). For more clarity, Kindly refer language. It is amply clear that TDS Provision would not be applicable.

Thanks & Regards

Lalit Talesra (B.Sc.) (Student CA & CS Final ) (29 Points)
Replied 13 July 2011

Greetings to All.

If Assessee is required to get his books of Account audited u/s 44AD read with Sec. clause (c) of Section 44AB, then in this case, From next year TDS provision would not apply to hime because in almost all section pertaining to TDS enforcing to deduct TDS, only clause (a) and (b) have been referred not clause (c ). For more clarity, Kindly refer language. It is amply clear that TDS Provision would not be applicable.

Thanks & Regards

Lalit Talesra (B.Sc.) (Student CA & CS Final ) (29 Points)
Replied 13 July 2011

Originally posted by : AYUSH AGRAWAL
	Originally posted by : Amol Gopal Kabra (CA,CS,DISA) There is no need to maintain books of accounts or get them audited if the assessee opts for Section 44AD. However, i think you have mistaken in asking the question. I think you needed to ask what is the form of audit report if the profit of the assessee is less than the one required by section 44AD. If this is the question, the reply is same forms as applicable to section 44AB i.e. 3CB and 3CD (3CA is applicable only to those concerns where any statotory audit is applicable. Section 44AD is applicable only to individual, huf and partnership firm only. So no question of 3CA here.) If the audit is applicable to to the assessee owing to non compliance with section 44AD, then next year onwards, the TDS provision shall be applicable to the assesse. Fully AGREED With Amol Sir

Greetings to All.

If Assessee is required to get his books of Account audited u/s 44AD read with Sec. clause (c) of Section 44AB, then in this case, From next year TDS provision would not apply to hime because in almost all section pertaining to TDS enforcing to deduct TDS, only clause (a) and (b) have been referred not clause (c ). For more clarity, Kindly refer language. It is amply clear that TDS Provision would not be applicable.

Thanks & Regards