CA Arindam Sain (Practice) (308 Points)
16 July 2013Hi,
i am confused whether it is required to upload e file form 3CD for those who are doing for estimated income for below 8% tax although total turnover is below 1Crore....and If so is that will be calculated under the present celling of 45 audit per CA......pls. solve this confusion as early as possible
Saurabh Maheshwari
(B.com,ACA)
(5923 Points)
Replied 16 July 2013
Yes, in case income claimed to be les than 8% of Gross Receipts, then the accounts to be audited u/s 44AB ...so naturally the audit report to be e-filed.
But ICAI, has clarified that such audit not to be counted for tax audit ceiling limit of 45....bedcause it is ICAI who have set this limit and not the I.T Act ...
CAclubindia
