sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
« ICAI »
 Ministry of Corporate Affairs (MCA) invites applications from Chartered Accountants (CAs) having 2 to 5 years of post-qualification experience as Consultant in the MCA Offices located all over India.
 Invitation to apply for the SME Awards being organised by Committee for Members in Industry & Business on 31st August, 2018
 Committee for Capacity Building of Members in Practice jointly with CPE Committee presents LEAD - A Diversity Support for Women CAs through https://www.cpeicai.org/cpe-qna/
 7 Days’ Residential Programme on Professional Skills Development from 19th August to 25th August, 2018 at Centre of Excellence, Hyderabad.
 Committee for Capacity Building Members in Practice (CCBMP), ICAI: arrangement of the ‘Tax Cloud’ software- A web based ITR & TDS Return Preparation
 Group to examine the Consultative paper on proposed SEBI (Fiduciaries in the Securities Market) (Amendment) Regulations and formulate its comments on the areas affecting the profession
 CPE Events 16th July - 21th July 2018
 Result of the Information Systems Audit [ISA] Assessment Test held on 23rd June 2018 is likely to be declared on 20th July, 2018
  Exposure Draft of Accounting Standard (AS) 19, Employee Benefits (Comments to be received by August 10, 2018)
 Announcement - Unique Document Identification Number (UDIN)
 Exposure Drafts of SA 800(Revised), SA 805(Revised) and SA 810(Revised) for Comments

ICAI-Clarification for reckoning the specified number of tax audit assignments conducted under section 44AB of the Income-tax Act, 1961.-
December, 13th 2011
Various statutes prevailing in India like DVAT,2004 requires the assessee to furnish an audit report in a form duly signed and verified by such particulars as may be prescribed under section 44AB of the Income-tax Act, 1961 i.e. Form 3CB/3CD. This had lead to the doubts as to whether such audits would be included in the ceiling of specified number of tax audit assignments.

Considering the same, the Council at its 311th meeting held on 8thand 9th November, 2011 clarified that audit prescribed under any statute which requires the audit report in the form as prescribed under section 44AB of the Income-tax Act, shall not be considered for the purpose of reckoning the specified number of tax audit assignments if the turnover of the auditee is below the turnover limit specified in section 44AB of the Income-tax Act, 1961. For instance audit under section 44AD, audit under DVAT, 2004 (for turnover between 40 to 60 Lakhs) etc. will not be considered for inclusion in the present limit of 45 audits.
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Work Flow Workflow Software Software Automation Workflow automation Software Design Workflow Design Business Work Flow Workflow automation tools

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions