Tax Audit for Automobile Dealers Tax Audit for Automobile Dealers sure, here are some compliance measures that automobile dealers should follow to avoid tax audit issues: 1. Keep accurate records: This includes all of your income and expenses, as well as any other relevant documents. The IRS can request to see your records for… Read More »
Dealership Taxation Sure, here are some compliance measures that automobile dealership taxation should follow to avoid tax audit issues: 1. Keep accurate records: This includes all of your income and expenses, as well as any other relevant documents. The IRS can request to see your records for up to six years, so it’s important… Read More »
Tax Audit Report The threshold limit for Tax audit report for Manpower & Employment Agencies in India is Rs. 10 crore for the financial year 2023-24, if the cash transactions do not exceed 5% of the total transactions. This is an increase from the previous threshold limit of Rs. 5 crore, which was applicable for… Read More »
Tax Audit Report for Hotels Here are some compliance measures that lodging businesses should follow to avoid tax audit report for hotels issues: 1. File your tax returns on time and accurately: This is the most important thing you can do to avoid an audit. The IRS is more likely to audit businesses that… Read More »
Tax Audit Report for Hotel Tax Audit Report for Hotel, For businesses in the Lodging–Hotels, Motels, and Resorts sector, it’s crucial to be aware of the threshold limit and due date for tax audit reports: 1. Threshold Limit: The threshold limit triggering a tax audit for Lodging–Hotels, Motels, and Resorts stands at ₹1 crore. In… Read More »
Penalties for Late Filing of Tax Audit Penalties for Late Filing of Tax Audit: Yes, there are penalties for late filing of TDS returns for printing services. The penalty is levied under section 271H of the Income Tax Act, 1961. The amount of penalty depends on the delay in filing the return. If the return… Read More »
Tax Compliance For Realtors Here are some Tax Compliance For Realtors real estate agents should follow to avoid tax audit issues: 1. Keep accurate and complete records: This includes all of your income and expenses, as well as any supporting documentation. The IRS can ask to see your records for up to 7 years,… Read More »
Due Date of Tax Audit for Real Estate Due Date of Tax Audit for Real Estate, The threshold limit for tax audit for real estate agents is Rs. 10 crore in the financial year 2022-23 (assessment year 2023-24). If the cash transactions do not exceed 5% of the total transactions. This is an increase from… Read More »
Tax Audit for furniture and appliances Tax Audit for furniture and appliances: Here are some recommended compliance steps that furniture and appliances traders and stores should adhere to in order to prevent Tax audit for furniture and appliances complications: 1. Maintain Accurate Documentation: Maintain precise records of all transactions, including sales receipts, invoices, and… Read More »
Tax Audit Issues Certainly, below are several recommendations that restaurants and hotels ought to follow to avoid encountering problems during tax audit issues: 1. Maintain Accurate and Comprehensive Records: It’s crucial to keep meticulous records of both income and expenses, as well as detailed employee records. 2. Submit Timely and Accurate Tax Returns: Ensure… Read More »
