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 such services exceed ₹1 crore during the financial year.
If the gross receipts exceed this threshold, the taxpayer must have their accounts audited by a chartered accountant and provide the tax audit report.
The due date for filing the tax audit reports for businesses providing Motor & Truck Rental Services aligns with the due date for filing the income tax return, which is generally September 30th of the assessment year.
This due date may be subject to changes based on notifications issued by the government.
To visit: https://www.mca.gov.in/
For further details access our website: https://vibrantfinserv.com