Section 44AB - Audit of accounts of certain persons [Tax Audit]

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....siness for the PY(s) relevant to the AY exceeds 1 crore. * In order to reduce compliance burden, * the Finance Act 2020 w.e.f. AY 2020-21 has inserted proviso to increase threshold limit of tax audit increased from ₹1 crore to ₹ 5 crore * the Finance Act, 2021 w.e.f. AY 2021-22 has increase threshold limit of tax audit increased from ₹ 5 crore to ₹ 10 crore * in ca....

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....son carrying on business covered u/s 44AE, 44AF, 44BB OR 44BBB - If such person claims that the profits and gains from the business are lower than the profits and gains computed under these sections (irrespective of his turnover), he shall get his accounts audited by Chartered Accountant on or before the specified date. * (d) A person carrying on profession covered u/s 44ADA - If such person cla....