Tax audits play a significant role in income tax compliance in India, governed by Section 44AB of the Income Tax Act, 1961. Businesses with sales or turnover exceeding Rs 2 crore, professionals with ...
Who needs to file a tax audit report? If the turnover, sales or gross receipts of a business are over Rs 2 crore in a financial year, the owner of the enterprise needs to file an audit report. The ...
Tax audit deadline 2025: October 31, 2025 is the new cut-off date for eligible taxpayers, including specific individuals, to file their income tax audit reports. This has been extended from the ...
Taxpayers who are meant to get their accounts audited have only one week left to file their income tax return (ITR) for AY 2024-25. The last date to file income tax return for these taxpayers is ...
Think of a tax audit as a financial vibe check. Just like a company’s accounts are verified, income-tax authorities asks certain businesses and professionals to get their books audited by chartered ...
The due date for filing tax audit reports for fiscal 2021-22 has been extended by 7 days, the Income Tax Department announced on Friday. The last for filing tax audit reports has been extended to 7 ...
Please let me know whether tax audit u/s. 44AB read with section 44AD is applicable for A.Y. 2021-22, for claiming loss from futures & options (derivatives) business of ₹1 lakh on turnover of ₹5 lakh ...
The Koramangala Club has escaped the taxman’s axe. In 2009, the IT Department had acted under Sec 44AB and 271B of the Income Tax Act. Under the former, it held that Koramangala Club had not followed ...
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