E-filing of Audit Reports with the Income Tax Department for AY 2013-14 and onwards

An assessee required to furnish a report of audit specified under sub-clauses (iv), (v), (vi) or (via) of clause (23C) of section 10, section 10A, clause (b) of sub-section (1) of section 12A, section 44AB, section 80-IA, section 80-IB, section 80-IC, section 80-ID, section 80JJAA, section 80LA, section 92E or section 115JB of the Act, shall furnish the said report of audit  and the return of Income electronically for AY 2013-14 and onwards as specified in Notification No. 42/2013 dated 11th June 2013.

However the said notification does not specifies about the Audit Report which needs to be submitted under Sec 44AD of the Act. It must be noted that the Section 44AD is a presumptive taxation and the provisions of audit are contained in section 44AB, hence all such audits are conducted under section 44AB . No audit proceedure is specified under section 44AD though it is provided in section 44AD that in certain circumstances the assessee has to maintain Books of accounts and get the accounts audit u/s 44AB.

Thus such Audit Report are also required to be filed electronically with the Income Tax Department on or before the due date.

This is our opinion about E-filing of audit report in case of dealers covered under section 44AD who are not showing the required profit. There may be other opinion in this respect.