I often receive queries on the applicability of audit under different circumstances.
Now, that non-tax audit returns are almost done, I thought it would be best to share a few clarifications on when and why tax audit will apply to a particular case.
Please note that the note below is...
Over past couple of years, especially after demonetization, we have seen an avalanche of amendments in taxation laws, be it regarding how you file returns under 44AD, the tax return forms, cash deposits, reporting requirements (Form 61A) etc.
I would be glad to help you all for...
In the last year's budget, govt of India amended the section 44AD.
This current post covers the revised tax positions based on the section 44AD as it stands post amendments:
Key changes are as under:
1. The turnover limit under 44AD now stands at Rs 2 CR
2. Once you choose an...
Well the annual tax return season is just about to start and its the right time for you to evaluate whether you are supposed to anything more than just filing your tax returns.
This posts attempts to cover the issue of applicability of tax audit under various circumstances.
Till a few years...