Category Archives: Tax Audit

45. What is the threshold limit and due date of tax audit report for Automobile Dealers?

Tax Audit Report for Automobile Tax Audit Report for Automobile dealers stands at Rs. 10 crore, provided that cash transactions remain below 5% of the total transactions. This means that if an automobile dealer’s total turnover during a financial year is Rs. 10 crore or more, and if the cash receipts and cash payments do… Read More »

29. Tax Audit Prevention: What compliance measures should Spas & Parlor Services follow to avoid tax audit issues?

Tax Audit Prevention   Tax Audit Prevention sure, here are some compliance measures that spas and parlor services should follow to avoid tax audit issues: 1. Obtain a business license and permit: The requirements for obtaining a business license and permit vary from state to state. Spa and parlor owners should contact their local government… Read More »

What is the threshold limit and due date of tax audit report for Diagnostic Centre?

Tax Audit Report for Diagnostic    The Tax Audit Report for Diagnostic center to be required to get its accounts audited is `₹1.5 crores** for the financial year 2022-23 (assessment year 2023-24). The due date for filing the tax audit report is **31st October“ of the assessment year. Visit for more information: https://www.mca.gov.in/ Here are… Read More »

47. What compliance measures should Diagnostic Centre follow to avoid tax audit issues?

Compliance measures   Compliance measures, here is a revised version of the provided text: Outlined below are essential compliance measures that diagnostic centers must adhere to in order to prevent potential tax audit complications.   Establish and Execute a Robust Compliance Risk Management Program:  Devise a comprehensive program to identify and assess all tax-related compliance… Read More »

45. Tax Audit for Automobile Dealers: What compliance measures should Automobile Dealers follow to avoid tax audit issues?

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 »

45. Dealership Taxation: What compliance measures should Automobile Dealers follow to avoid tax audit issues?

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 »

30. What is the threshold limit and due date of tax audit report for Manpower & Employment Agencies?

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: What compliance measures should Lodging–Hotels, Motels, Resorts follow to avoid tax audit issues?

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 »

Threshold limit and due date of tax audit report for Hotels

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 »