https://www.taxtmi.com/article/detailed?id=11877 A statutory framework requires certain taxpayers to obtain an audit under Section 44AB where business turnover or professional receipts exceed prescribed thresholds, and for specified cases under the presumptive taxation regime. Required filings include the tax audit report and statutory audit forms (Form 3CA and Form 3CD) by the due date for the assessment year, with an extended due date when transfer pricing audit applies. Non-compliance attracts a monetary penalty under Section 271B based on turnover or gross receipts, subject to a statutory cap. en-us Fri, 22 Sep 2023 10:20:58 +0530 Fri, 22 Sep 2023 10:20:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=11877 A statutory framework requires certain taxpayers to obtain an audit under Section 44AB where business turnover or professional receipts exceed prescribed thresholds, and for specified cases under the presumptive taxation regime. Required filings include the tax audit report and statutory audit forms (Form 3CA and Form 3CD) by the due date for the assessment year, with an extended due date when transfer pricing audit applies. Non-compliance attracts a monetary penalty under Section 271B based on turnover or gross receipts, subject to a statutory cap. Articles Income Tax Fri, 22 Sep 2023 10:20:58 +0530 https://www.taxtmi.com/article/detailed?id=11877