The tax audit limit of Rs. 10 crore is applicable from which A.Y. ? 2021-22 or 2022-23.?
As per the Finance Bill 2021 the proposed amendment u/s 44AB will be applicable from AY 2021-22 and subsequent assessment years
5 Replies
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 06 September 2021
It is applicable from AY21-22 (PY20-21).
Ridhi Adhia
(16 Points)
Replied 06 September 2021
But the same came through FINANCE bill 2021 ....so it should be applicable for Ay 2022-2023 na
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 06 September 2021
Not necessarily I think. It has been specifically mentioned to be applicable from AY21-22.
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