Modification in the Council Guidelines No. 1-CA(7)/02/2008 dated
th August, 2008 as contained in Appendix No. (34) to the Chartered
Accountants Act, 1949
In furtherance of the Announcement dated 11th February 2014 and 2
nd July, 2014
informing the members of the modification in the Council Guidelines No. 1-
CA(7)/02/2008 dated 8th August, 2008 pertaining to Chapter VI regarding increase
in tax audit limit from 45 to 60 and change in applicability of limit from ‘financial
year’ to ‘assessment year’ respectively, it is hereby informed that the Council of the
Institute at its 368th meeting held in August, 2017 decided to exclude the audit
conducted under section 44ADA of the Income-tax Act, 1961 for the purpose of
reckoning the “specified number of tax audit assignments” under Chapter VI of the
Council Guidelines as section 44ADA of the Income-tax Act, 1961 also contains
special provision for computing profits and gains of profession on presumptive basis.
In view of the aforesaid decision of the Council, the fourth proviso to para 6.0 of
Chapter VI of the Council Guidelines No. 1-CA(7)/02/2008 dated 8th August, 2008 as
contained in Appendix No. (34) to the Chartered Accountants Act, 1949 stands
modified as under:-
1. In the fourth proviso to para 6.0, after the words “44AD,” words “44ADA
and” has been inserted.
2. In the fourth proviso to para 6.0, after the words “44AE,” words “and
44AF” has been deleted.
Accordingly, audits conducted under Section 44AD, 44ADA and 44AE of the Incometax
Act, 1961 shall not be taken into account for the purpose of reckoning the
“specified number of tax audit assignments”.
The above announcement is published for information of the members at large.
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