Question ID :
WILL TAX AUDIT CEILING OF 60 COVERS CASES HAVING TURNOVER BELOW 2CR
The ceiling of tax audit assignments has been fixed as 60 audits per CA.
As we are aware, audit cases having turnover below Rs. 1 Cr with profit below 8% are NOT counted or reckoned within this ceiling of 60.
My question is, now the limit u/s 44AD has been raised to Rs, 2 Cr. If we have an audit case having turnover of Rs. 1.50 Cr with less than 8% profit; will this be counted within this ceiling of 60 or NOT.
Appreciate advise from learned colleagues.
Thanks in advance.
VISHNU KAMATH K
Sep 9 2018 12:00AM