Please Help: Limit of Audit
Posted Date : 27-May-2013 , 06:12:50 am | Posted By Anil Kumar Agrawal
I have a query regarding ceiling of audit.
A form A & B & Co has 2 partners. Can one p[artner do 80 tax audits and other 10.
And can one partner do 50 co audit and other only 10.
Is it allowed under the present provision.
Can I get any authentic document for your contention.
A form A & B & Co has 2 partners. Can one p[artner do 80 tax audits and other 10.
And can one partner do 50 co audit and other only 10.
Is it allowed under the present provision.
Can I get any authentic document for your contention.
Category : Audit | Answers : 0 | Comments : 1 | Hits : 118
Answers
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ATUL NARENDRAKUMAR PITHADIA
30-May-2013 , 05:38:46 pmas per companies act ,a CA can accept maximum 20 company audits of public limited co of which not more than 10 companies which have a paid up capital of more than 25 lacks Tax audit is not consider for calculating above limits In ur case A & B & Co. has 2 partner hence they can accept maximum 40 company audit out of which not more than 20 companies have a paid up capital of Rs. 25 lacks. Private companies are exclude from above ceiling limit