IT Audit details
This query is : Resolved
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.
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.
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.
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
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Taxable or Tax exempt
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- NRI starting business in India
- ADVANCE PAYMENT OF ADVOCATE
- GST not cancelled by tenant
- FORM 141 SDV query
- REGARDING ANNUAL RETURNS FILLINGS OF A COMPANY INCORPORATED ON 28.03.2025
- Tally: Imported bank entries do not show up in manual reconciliation
- Query – TDS on purchase of land from NRI under Income-tax Act, 2025
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
