Tuesday, 12 April 2016

Tax Audit

TAX AUDIT in India is governed by section 44AB of Income Tax Act 1961.

Who is Liable for Tax Audit?
·         The Person is carrying on business and his Total Sales/Turnover  exceeds Rs 1 Crore or
·         
      The Person is carrying on Profession, and his Gross Receipts exceed Rs 25 Lakhs or

·         The person is carrying on business or profession and is covered under the provision
 of section 44AD, 44AE. 44BB, or 44BBB and claims that his income from the said
 business is lower than the deemed profits and gains computed under the relevant section.

Our taxation advisory team is highly knowledgeable and well conversant with the tax laws
 to provide Tax Audit Services.

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