(7)Where the assessee is a person other than a company or a co-operative society, no deduction shall be admissible under sub-section (1) unless,––(a)the accounts of the assessee for the tax year or years in which the expenditure specified in sub-section (2) are incurred have been audited by an accountant, before the specified date referred to in section 63; and(b)the assessee furnishes for the first tax year in which the deduction under this section is claimed, the report of such audit, by such date, in such form and duly signed and verified by such accountant, as may be prescribed.
