Tax Audit Sec 44AB limit for Business is 1 Crore or 2 Crore?
Tax Audit Sec 44AB means an inspection of books of accounts by some officials or some specified persons for the purpose of establishing the fact that the accounting records present a true and fair view.
Tag Archives: Tax Audit Problems
Know what is Income from undisclosed Sources
In this article, you’ll be able to gain complete information concerning varied provisions regarding tax treatment of undisclosed Sources.
Transfer Pricing- Aggregation of Transactions for Benchmarking
Aggregation of transactions or ‘blended Transaction approach’ is a nicely-widely wide-spread exercise for benchmarking and resolution of arms’ period price of global transaction/ exact domestic transactions in switch Pricing Certification and assessments and is broadly upheld in many judgements.
Income Tax audit under section 44AB
Articles deals with Tax Audit Provisions in India. It explains what’s tax audit, goal of tax audit, who is compulsorily required to get his money owed audited, What are form Nos. 3CA/3CB and 3CD, Due Date for Tax Audit, penalty for now not getting the accounts audited as required
Background and legal position – Service Tax Audits by Department
Service Tax law also operates under the concept of self-assessment like income tax laws, The assessee self assesses his/her tax and pays the service tax dues at particular time intervals as prescribed . All the business transactions are disclosed to the revenue by filing of
Case Laws on section 2(24) of Income Tax Act
Section 2(24) : Income – Capital or revenue-Receipt representing compensation for loss of source of income would be treated as capital receipt.
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