From threshold limits to Form 3CD equivalent clauses, what are the key differences you have spotted between tax audit under the old and new IT Act? Has the compliance burden reduced for practitioners and auditees, or is it largely the same with a new coat of paint?
Menu
Section 44AB is Gone — How Different is Tax Audit Under the New Act?
Replies (2)
Quick Summary
The transition marks a shift from "Volume" to "Value." While many smaller clients will no longer require audits due to higher thresholds (₹15Cr digital/₹75L professional), the audits that remain will demand higher technical proficiency in digital forensics and GST-income tax cross-linking. It’s less of a "new coat of paint" and more of an "engine overhaul" under the same chassis.
Look at change
From penalty to fees
Penalty can be waived but fees cannot
Recent Topics :
- Pos related issue
- Gift of unlisted shares to friend upon marriage
- Utilising Section 54(F) for capital gains reinvest
- GST ewaybill closure and Bill to ship to GST numbe
- TDS ON PARNTER INTEREST
- Share important chapters of ca inter costing
- Free CA Foundation Study Material - PYQs with Sugg
- INCOME TAX
- Moving from old to new tax regime after notice
- Need urgent help on notice
Related Topics :
CAclubindia
