IT Audit details

This query is : Resolved

Happy Sharma (Querist)
Follow

07 January 2023 Dear Team,

I enjoyed browsing through the website and reading through the responses to the questions asked. - Thank you for this great initiative for 'amateur' tax payers.

Salaried (Income Under 20lacs)

Question:
1. Previously completed and submitted Income Tax Filings can be subject / liable to an audit by Income Tax Department.? If yes, what is the ageing of the returns that can be selected for audit. (example : IT Filings older than 02 years OR >5years)
2. Please help / guide with an effective way to save taxes. If there is an article please share the URL.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

08 January 2023 1 The Finance Act has lowered the time limit for reopening of assessment to 3 years from 6 years earlier.
2 Opt for new scheme no need for any tax savings.

No need to worry as salary income under 20 lacs will not be taken up for department audit.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

bhavesh

Srikanthan S

rana andcompany

Pranab Banerjee

Gurunathan kannan

Subscribe Now

IT Audit details

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANCY

Accountant

Senior Executive

CA Final

Manager- Finance and Compliance

GST CONSULTANT