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Kindly interpret this prov. of sec. 44ab for a pvt. ltd. co. having T.O. less than 1 crore.
Provided 63[also] that in a case where such person is required by or under any other law to get his accounts audited, it shall be sufficient compliance with the provisions of this section if such person gets the accounts of such business or profession audited under such law before the specified date and furnishes by that date the report of the audit as required under such other law and a further report by an accountant in the form prescribed under this section.
Replies (3)
Yes... I agreed to Mr Manish...
Audit not required u/s 44ab if turn over less than 1cr.
But, Audit required as per CA.
Audit not required u/s 44ab if turn over less than 1cr.
But, Audit required as per CA.
@ mohitgupta
As the Turnover is less than 1 crore , the 44AB provisions are not applicable and so the 44AB Proviso you mentioned in your query.
However as per you query if you are required to carry out Audit under other law then that Audit is must.
As the Turnover is less than 1 crore , the 44AB provisions are not applicable and so the 44AB Proviso you mentioned in your query.
However as per you query if you are required to carry out Audit under other law then that Audit is must.
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