TaxAudit for Traders
Sure, The due date of TaxAudit for Traders & Stores is 30th September of the subsequent year.
If the turnover of the business exceeds INR 10 crores in a financial year.
However, if the trader has entered into an international transaction, then the due date of tax audit is 30th November of the subsequent year.
The tax audit required to conducted by a Chartered Accountant in accordance with the provisions of Section 44AB of the Income Tax Act, 1961.
The auditor will verify the books of accounts of the trader and ensure that the income tax returns have been file correctly.
The penalty for non-compliance with the tax audit requirement is INR 10,000.
To visit: https://www.mca.gov.in/
For further details access our website: https://vibrantfinserv.com