Chartered Accountants Tax Audit Limit
The outcome of the audit is an audit report. This report is drawn by a Chartered Accountant, where he or she gives his or her findings and observations about the person’s compliance under audit.
Tax Audit
Tax Audit
Tax Audit Limit For Partnership Firm
For every year, the due date of furnishing the tax audit report is 30th September of the subsequent year
Extension of Tax Audit Due Date for AY 2021-22
A Tax Audit determines whether financial records and transactions are correctly recorded and accounted for. This ensures that the records reflect the taxpayer’s actual income and that the claims for deductions made are accurate.
Income Tax Audit Late Fees For AY 2021-22
If any person who is required to comply with section 44AB fails to get his accounts audited in respect of any year or years as required under section 44AB or furnish such report as required under section 44AB, the Assessing Officer may impose …
Income Tax Audit Late Fees For FY 2020-21
If any person who is required to comply with section 44AB fails to get his accounts audited in respect of any year or years as required under section 44AB or furnish such report as required under section 44AB, the Assessing Officer may impose …
AY 2021-22: Income Tax Audit Penalty and Late Fees
If any person who is required to comply with section 44AB fails to get his accounts audited in respect of any year or years as required under section 44AB or furnish such report as required under section 44AB, the Assessing Officer may impose …
FY 2020-21: Income Tax Audit Penalty and Late Fees
If any person who is required to comply with section 44AB fails to get his accounts audited in respect of any year or years as required under section 44AB or furnish such report as required under section 44AB, the Assessing Officer may impose …
Income Tax Audit Penalty and Late Fees
If their is genuine reason for delay or non-filing of audit report, then as per section 273B of the Income Tax Act, no penalty shall be imposed if reasonable cause for such failure is proved.