hello everyone
I want to know that if I get the audit in fy 20-21 because my turnover exceeds rs 2 crore
but if in fy 21-22 if my turn over is less than 2 crore ....so now Can I avoid audit liability or not....?
3 Replies
sabyasachi mukherjee
(27642 Points)
Replied 10 April 2022
If you are a eligible/regular tax payer you are bound to get your accounts audited.
Kev Men
(788 Points)
Replied 10 April 2022
If the conditions u/s 44AB of the income tax act are not fulfilled, then tax audit is not required....just because tax audit was applicable in fy 2020-21it is not necessary that it will be applicable fy 2021-22.
CRO0580568 ABHISHEK MISHRA
(49 Points)
Replied 10 April 2022
Its better to get audited for future benefit.
Recent Topics
- What is tds12
- SECTION 148 PROCEEDING
- GST AUDIT 01 - NOTICE
- Capital gain purchase date
- Transmission of deceased's shares in physical form
- Income tax notice but unable to file updated retur
- Income tax depreciation deductions
- GST Notice (Under Section 73)
- Asset Declaration in ITR2 for flat purchased in jo
- Active pan but invalid
Related Threads
Trending Online Classes
-
PF & ESI Course - Labour Code 2019 Along with Examples and Case Studies
Mr.Balamurugan Ranganathan13 March 2025
CAclubindia
