Tax audit
varun (student) (49 Points)
02 May 2017
Mopidevi Bharadwaja
(Article assisstant)
(167 Points)
Replied 02 May 2017
Example:
Let us say a business opts for PTS under section 44AD of the Act for AY2017-18, and then for AY2018-19 and 2019-20 too. But for AY2020-21, it opts out. In this case, the business will not be able to opt for PTS for the next 5 assessment years, i.e., from AY2021-22 to AY2025-26.
Hope this is helpful to you
sowmya
(audit assistant)
(228 Points)
Replied 02 May 2017
Mopidevi Bharadwaja
(Article assisstant)
(167 Points)
Replied 02 May 2017
Soumya Mam
It was announced in Finance act of 2016 and I think it is applicable from AY 2017-18 and please correct me if I am wrong
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
LIVE Form 10 B and Form 10BB: Handle Tax Audit Reports of Charitable Organizations(with recording)