# tax audit
8 posts in `tax audit` tag
What Is Tax Audit Understanding Applicability
A tax audit under the Income Tax Act becomes compulsory when the annual gross turnover or receipts exceed a specified limit. Chartered accountants, as defined in Section 44AB of the Income Tax Act, 1961, conduct tax audits.
-
By Krishna
Missed September 30 Tax Audit Report Filing What To Do Now
Tax Audit Deadline: Taxpayers were required to file their tax audit reports by September 30, 2023. The income tax department did not grant an extension, and those who missed this deadline may face penalties.
-
By Krishna
Over 3 Million Audit Reports Income Tax Website
The e-filing portal efficiently managed the influx of users, ensuring a smooth experience for taxpayers and tax professionals as they submitted their audit reports.
-
By Krishna
Consequences Failing File Audit Report Tax Penalties Late Fees
It is important to note that although Section 139 of the Act has been extended until 30th November 2023, which is one month after the original deadline, you should aim to file your taxes by 31st October 2023. Filing late can result in a late fee of Rs 5000.
-
By Krishna
Income Tax Audit Report Significance and Submission Deadline Explained
The income tax return for the fiscal year 2022-23 was due on July 31st. However, the Income Tax Department doesn't just require tax returns from some taxpayers; they also need a tax audit report.
-
By Krishna
Income Tax Audit Report Submission Deadline
The government's requirement for income tax audits for businessmen and professionals who earn a certain amount shows its commitment to transparency and responsibility in finances. This rule has multiple purposes.
-
By Krishna
Extension of ITR due date not applicable to assessees subject to audit under other acts
The Income Tax Appellate Tribunal (ITAT) has ruled that the extension of the income tax return (ITR) due date for cases requiring tax audit cannot be applied to assesses who are liable for audit under any other Act.
-
By Krishna
What is a GST Audit
The records, returns, and other related documents must be allocated or maintained under GST or more laws.
-
By Krishna