Professional (freelancer): Do I need to tax Audit for FY23 if my gross receipt is 50 lakh plus

If your gross receipts as a freelancer exceeded 50 lakh rupees in the Financial Year 23 (FY23), you are generally required to undergo a tax audit for that same financial year under Section 44AB of the Income Tax Act. While the audit pertains to FY23, the corresponding Assessment Year will be the subsequent one. Similar provisions apply under Sections 44AD and 44AE, though they cover different categories of income.