Tax audit thershol for ay 2021-2022

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16 Points Posted on 06 September 2021
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
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On 06 September 2021 at 11:23 Report
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This discussion clarifies the applicable Assessment Year (AY) for the Rs. 10 crore tax audit threshold. While the Finance Bill 2021 proposed the amendment, it is confirmed to be applicable from AY 2021-22, not AY 2022-23.

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CMA
13117 Points Posted on 06 September 2021
It is applicable from AY21-22 (PY20-21).
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On 06 September 2021 at 11:51
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16 Points Posted on 06 September 2021
But the same came through FINANCE bill 2021 ....so it should be applicable for Ay 2022-2023 na
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On 06 September 2021 at 11:57
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CMA
13117 Points Posted on 06 September 2021
Not necessarily I think. It has been specifically mentioned to be applicable from AY21-22.
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On 06 September 2021 at 12:03
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16 Points Posted on 06 September 2021
Okayyy thank you😊
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On 06 September 2021 at 12:05
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Chartered Accountant
24588 Points Posted on 06 September 2021
From AY 2022-23
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On 06 September 2021 at 12:25

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