Question ID :
TAX AUDIT LIMIT FOR SECTION 44AB(E)
Dear sir if audit is conducted U/s 44AB(e) i.e Turnover is more than 1 cr but below 2 cr and he wishes to opt out of 44AD presumptive regime(where 44AD(4) is applicable). whether this will be counted for 60 Tax audit limit??
Kindly guide us regarding the same.
Answer ID :
Jan 01, 2022
First of all, Audit covered under clause 44AB(e) not to be count in limit of 60.
If the Assessee opt out from 44AD and covered in 44AB(A) then only the audit will be count
Feb 12, 2022