TaxTMI Login
🎉 Festive Offer: Flat 15% off on all plans! →⚡ Don’t Miss Out: Limited-Time Offer →
TaxTMI 
Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Mandatory tax audit under Section 44AB for businesses over 1 crore or professionals over 50 lakh; presumptive exceptions apply</h1> Every person carrying on business or profession must get accounts audited and furnish the auditor's report if specified turnover/receipts or deemed presumptive incomes exceed statutory thresholds (business: generally one crore, with higher threshold where cash transactions are limited; profession: fifty lakh; special rules for presumptive schemes and deeming provisions). Certain taxpayers under prescribed presumptive provisions or those whose accounts are already audited under other laws are exempt or may furnish that audit report plus a prescribed accountant's form. 'Specified date' for filing the audit report is linked to the return due date.
TaxTMI 
