Sales and Services Tax Audit Sure, there is a threshold limit of tax audit for Sales & Services. The threshold limit is Rs. 1 crore for businesses with more than 5% cash transactions and Rs. 10 crores for businesses with less than 5% cash transactions. This means that if a business’s total sales, turnover,… Read More »
Tax Audit Report for Architectural Tax Audit Report for Architectural In India, for businesses engaged in providing architectural, engineering, and surveying services, the threshold limit for tax audit under Section 44AB of the Income Tax Act is Rs. 1 crore. This means that if the total gross receipts or turnover from these professional services… Read More »
Tax Audit Report for Freelancers Tax Audit Report for Freelancers in India should adhere to several compliance measures to steer clear of tax audit issues. These steps help ensure accurate reporting and maintain transparency in their financial dealings. There are following steps for Tax Audit Report for Freelancers: 1. Maintain Accurate Records: Freelancers… Read More »
Compliance Measures for Architectural Compliance measures for Architectural, Engineering, and Surveying Services to avoid tax audit issues in India can be outlined as follows: ◘ Proper Record Keeping: Maintain comprehensive and accurate records of financial transactions, invoices, receipts, and expenses. This documentation serves as crucial evidence during tax audits and ensures transparency in your… Read More »
Tax Audit Report Penalty & Dedline Tax Audit Report Penalty & Dedline, if a freelancer in India has a turnover of more than Rs. 1 crore in a financial year, they are required to get their accounts audited by a chartered accountant. The due date for filing the tax audit report for freelancers is 30th… Read More »
Key Components of Tax Audit Report The Tax Audit Report for computer repair and maintenance services in India comprises several key components that require accurate and comprehensive addressing. 1. Business and Financial Information: The report begins with essential details about the business, such as its name, address, PAN (Permanent Account Number), and a brief… Read More »
TaxAuditReport for MotorTruck In India, the threshold limit and due date of TaxAuditReport for MotorTruck Rental Services are important considerations. Threshold Limit: The threshold limit for tax audit under Section 44AB of the Income Tax Act, 1961, for businesses providing Motor & Truck Rental Services is applicable when the gross receipts or turnover from… Read More »
Tax Audit Report for Computer Repair Yes, individuals or businesses providing Computer Repair and maintenance services may require a Tax Audit Report under certain circumstances. In India, as per the Income Tax Act, a Tax Audit is mandatory for businesses or professionals whose total turnover or gross receipts exceed the prescribed threshold limit. For… Read More »
Tax Audit for Computer Sales The primary objective of conducting a tax audit for computer sales and services businesses is to ensure that the businesses are complying with all applicable tax laws and regulations. This includes ensuring that the businesses are correctly reporting their income, deductions, and credits, and that they are paying the… Read More »
Tax Audit Reports for Automotive Repair The threshold limit for Tax Audit Reports for Automotive Repair services in India is Rs. 1 crore in case the cash receipts do not exceed 5% of the total receipts. If the cash receipts exceed 5% of the total receipts, then the threshold limit is Rs. 10 crores.… Read More »
