Tax Audit

 

    • Internal & Statutory Audits of Companies
    • Stock & Book Debt Audits
    • Investigations & Special Audits as required by the management.
    • Fixed Assets Verification etc

Business

For companies, tax audits are required if the company's total sales or revenues exceed 100 million rupees in the previous year. For the purposes of the Income Tax Act, "business" simply means an economic activity that is carried out for the purpose of making a profit. Section 2 (3) defines a business as "adventure or concern in commerce, commerce, manufacturing activities, or commerce, trade, or manufacturing methods."

Profession

  1. For professionals or freelancers, a  tax audit is required if the total income from the profession exceeds Rs.50 Raku during the fiscal year.

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