Is Tax Audit Date Pre-Poned from 31st Oct to 30th Sept
This query is : Resolved
01 April 2008
Hi all?? My CA was telling me that tax audit dates have been pre-poned from 31st Oct to 30th Sept. Is that true??
01 April 2008
Hello Gaurav,
The section under which provision of Tax Audit has been discussed Section 44AB, specifies that if the gross receipts/turnover of the assessee during any financial year exceeds Rs. 40 lacs (if the assessee is carring on any business) and Rs. 10 lacs (if carrying on sm profession specified u/s 44A), then he will be required to get his accounts audited by any chartered accountant.
This provision shall apply in line with provision u/s 139 of the IT Act, 1961.
Since the provision u/s 139 has changed and word 31st October has been substituted by 30th September, the same period shall apply to provision u/s 44AB.
The section under which provision of Tax Audit has been discussed Section 44AB, specifies that if the gross receipts/turnover of the assessee during any financial year exceeds Rs. 40 lacs (if the assessee is carring on any business) and Rs. 10 lacs (if carrying on sm profession specified u/s 44A), then he will be required to get his accounts audited by any chartered accountant.
This provision shall apply in line with provision u/s 139 of the IT Act, 1961.
Since the provision u/s 139 has changed and word 31st October has been substituted by 30th September, the same period shall apply to provision u/s 44AB.
02 April 2008
yes
02 April 2008
Yes
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