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No Further Extensions in the Due Date for Filing Income Tax Returns and Tax Audit Reports, says CBDT

CBDT passes order u/s 119 of the Income Tax Act, 1961 in F No. 370153/39/2020-TPL dt 11th January 2021, disposing off the representations for extension of due date for filing of Audit Report u/s 44AB, in compliance with the order of hon'ble Gujarat High Court dt 8th January 2021. Read the official order below: F.NO. 370153/39/2020-TPL GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE (CENTRAL BOARD OF DIRECT TAXES) (TAX POLICY AND LEGISLATION DIVISION) ..

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TAX AUDIT 1.5 CR, NEVER OPTED FOR PRESUMPTIVE

TAX AUDIT FOR PROPRIETORY CONCERN TRADER HAVING SALES OF 1.5 CR, NEVER OPTED FOR PRESUMPTIVE IN PAST NO CASH TRANSACTIONS PROFIT 7% OF TURNOVER. TAX AUDIT APPLICABLE FOR ASST.2021? I FEEL NO, BECAUSE PROFIT IS MORE THAN 6%. CORRECT?..

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