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CLAUSE 44 WHY
WHY CLAUS 44 REQUIRE WHY AUDITOR ASKING FOR CLAUS 44
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Clause 44 is a mandatory reporting requirement for all taxpayers subject to a tax audit under Section 44AB of the Income Tax Act. It requires a detailed breakdown of all annual expenditure based on the GST registration status of the suppliers. Its main purpose is to enable the government to reconcile business expenses with GST filings, ensuring better compliance and transparency in financial reporting.
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