Tax Auditing

Tax Audit is mandatory to conduct as per Income Tax Act, 1961 for those organizations whose turnover or gross receipts exceed the limit fixed by Governing Finance Act.  Tax Audit is an examination of information given in Tax Payee’s Income Tax Return against with revenues highlighted in the books of Business Activities. Tax Audit is normally concerned with the review of the taxpayer's return of income for the concerned year. Generally the last date of filing return of tax audit is 30th September. We have expertise in providing accurate Tax Auditing services to the clients at very affordable prices. Our experts have ample knowledge about the entire Tax Auditing details. Persons have to maintain a book as per prescribed manner. In case of noncompliance person will have to bear penalties given below :

  • Failure to maintain books or documents u/s 44AA : Rs.25000
  • Failure to get Tax Account Audited u/s 44AB : Rs.150000 or .5% of Total Turnover

For The Assessment Year 2014-15 Tax Audit Limit Is As Follows :

  • Activity : Quantum of Transaction
  • Turnover from Business : 1 Crore 
  • Gross Receipts from Profession : 25 Lakh

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