Question ID :
44372
SPECIFIED NUMBER OF TAX AUDIT ASSIGNEMENTS
Dear Sir an assessee who declares profit U/s 44AD i.e. 8% for previous year and subsequently for CY he declares profit lower then 8% (his turnover is below 2 Cr and Above 1 CR ) wherein 44AD(4) is attracted and liable for Audit U/s 44Ab(e) whether such tax audit will be counted within specified limit of 60 tax audits ?
Posted by
Sachin
on
Sep 19, 2022
Filed Under
DIRECT TAXES
https://resource.cdn.icai.org/51421councilaffairs-dtc41150.pdf
Posted by
t sankar on
Sep 19, 2022
Answer ID :
83824
Yes, It is subject to tax audit, however this shall not be counted for reaching the limit for tax audit of 60.
Posted by
CA. JHA SHANKAR KUMAR on
Sep 19, 2022