Ad-Free CAclubindia and Daily Updates on your mobile. Subscribe Now!

TAX AUDIT limit to CA

amol bramhankar (artical tranee) (261 Points)

02 September 2022

maximum tax audit allowed to CA ?
audit between 1 crore to 2 crore is considered in celling if how if no why? plz guide

Reply
Follow
Share

20 Replies

Eswar Reddy S (CFO- at NHTF) (58259 Points)
Replied 03 September 2022

60 Tax Audits

2 Like

Upgrade to CAclubindia Pro. Subscribe Now!

sabyasachi mukherjee (27105 Points)
Replied 03 September 2022

Not like that

1 Like

Eswar Reddy S (CFO- at NHTF) (58259 Points)
Replied 03 September 2022

Since Turnover is above 1 crore and if tax audit is done then it will be considered

2 Like

CA Rashmi Gandhi (Chartered Accountant) (86308 Points)
Replied 03 September 2022

No ceiling between 1 to 2 crore

1 Like

veerendar singh (tax consultant) (3301 Points)
Replied 03 September 2022

From where do you get these limits? is it prescribed anywhere?

1 Like

Upgrade to CAclubindia Pro. Subscribe Now!

Eswar Reddy S (CFO- at NHTF) (58259 Points)
Replied 03 September 2022

Tax audit is mandatory if turnover is above 1 crore for business and

50Lakhs for profession

2 Like

amol bramhankar (artical tranee) (261 Points)
Replied 03 September 2022

But as per 44ad limit is 2 cr why it's considered

1 Like

Eswar Reddy S (CFO- at NHTF) (58259 Points)
Replied 03 September 2022

That is for presumptive Taxation..If the profit is less than 8/6% then there also audit is required

CA Rashmi Gandhi (Chartered Accountant) (86308 Points)
Replied 03 September 2022

Upto 2 crore audit was under sec 44AD and limit was for cases other than covered under 44AD

Eswar Reddy S (CFO- at NHTF) (58259 Points)
Replied 03 September 2022

But it will not covered in the ceiling limit since one can go for ITR filing without audit if profit is above 6/8%

Upgrade to CAclubindia Pro. Subscribe Now!

CA Rashmi Gandhi (Chartered Accountant) (86308 Points)
Replied 03 September 2022

Here ceiling limit for CA asked for not profit % understand query first and same is already replied by you

Eswar Reddy S (CFO- at NHTF) (58259 Points)
Replied 03 September 2022

First you understand..If it is Audit then only it will be covered in celing..Presumptive taxation is a relaxation.But based on profit tax audit may applicable

1 Like

CA Rashmi Gandhi (Chartered Accountant) (86308 Points)
Replied 03 September 2022

Sir, please stop putting on your fingers I'd your don't know it. Every CA ca do maximum number of audits in a year and question related to that. So wait for healthy dicussion by someone known.