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  • Tax Audit: Tax Audit Conditions As Per Section 44AB-Every Person

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    Siva Kumar
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    According to Section 44AB of the Income Tax Act, any person carrying out business must get their accounts audited by a chartered accountant if their total sales or turnover exceeds Rs. 1 crore, or if their gross receipts from profession exceeds Rs. 25 lakhs, or if their claimed business profits are lower than those deemed under Section 44AD and their income exceeds the maximum amount not chargeable to tax. The due date for filing the Tax Audit Report under Section 44AB is 30th September of the assessment year.

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    Tax Audit

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    According to Section 44AB of the Income Tax Act, any person carrying out business must get their accounts audited by a chartered accountant if their total sales or turnover exceeds Rs. 1 crore, or if their gross receipts from profession exceeds Rs. 25 lakhs, or if their claimed business profits are lower than those deemed under Section 44AD and their income exceeds the maximum amount not chargeable to tax. The due date for filing the Tax Audit Report under Section 44AB is 30th September of the assessment year.

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    Tax Audit: Tax Audit Conditions As Per Section 44AB-Every Person

    Uploaded by

    Siva Kumar
    According to Section 44AB of the Income Tax Act, any person carrying out business must get their accounts audited by a chartered accountant if their total sales or turnover exceeds Rs. 1 crore, or if their gross receipts from profession exceeds Rs. 25 lakhs, or if their claimed business profits are lower than those deemed under Section 44AD and their income exceeds the maximum amount not chargeable to tax. The due date for filing the Tax Audit Report under Section 44AB is 30th September of the assessment year.

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    Tax Audit

    Tax Audit Conditions


    As per section 44AB- Every person

    Carrying on business shall, if his total sales, turnover or gross receipts, as the case may
    be, in business exceed or exceeds one crore rupees. ; or

    Carrying on profession shall, if his gross receipts in profession exceed twenty-five lakh
    rupees. ; or

    Carrying on the business shall, if the profits and gains from the business are deemed to
    be the profits and gains of such person under section 44AD and he has claimed such
    income to be lower than the profits and gains so deemed to be the profits and gains of
    his business and his income exceeds the maximum amount which is not chargeable to
    income-tax in any previous year.

    get his accounts of such previous year audited by a Chartered Accountant. The due date for filing
    the Tax Audit Report u/s 44AB is 30th September of the Assessment year

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