Quick Summary
Tax Audit ensures correct computation of taxable income and tax liability.
Tax audit is mandatory if turnover exceeds ₹1 crore (₹10 crore if 95% digital transactions). Report in Form 3CA/3CB and 3CD must be filed by September 30. Applicable to businesses and professionals.
Key Points
- Section 44AB
- Turnover > ₹1 crore
- Form 3CA/3CB and 3CD
- Due: September 30
- By practicing CA