MOHAN AGRAWAL (Practice) (100 Points)
03 September 2013Dear Friends,
There is a limit of 45 tax audit limits per Chartered Accountant.
I want to know if an audit is performed for an assessee who has claimed his income lower than 8% under section 44AD, then whether this audit will be counted for the purpose of limit of 45 Tax audit and whether Chartered Accountant is required to upload this audit report on income tax efiling portal.
Thanks & Regards,
NAGASAI.K
(Article Assistant)
(193 Points)
Replied 03 September 2013
A Chartered Accountant shall not accept,in a financial year more than the specified number of tax audit assignments
Provided that audits conducted under section 44AD, 44AE, and 44AF shall not be taken in to account for the purpose of specified number of tax audit assignments
But if the client assess the income lower than 8% of turnover and he is not in the basic exemption limit then he comes under section 44AB
In such a case audit conducted U/s.44AB will come under specified number of tax audit assisgnments
CAclubindia
