- The Chartered Accountant or Cost Accountant nominated to conduct the audit under Section 66, shall submit a report, within a period of 90 days from the date of communication in writing by an officer not below the rank of Assistant Commissioner to get the audit of records of such registered person.
- The said period of ninety days can be extended by another period of 90 days on an application made in this behalf by registered person or the Chartered Accountant or Cost Accountant or for material and sufficient reason.
(ICAI FAQ PUBLICATIONS : – 06-09-2017 -SPECIAL AUDIT : FAQ NO. 11)