{"id":17301,"date":"2023-08-30T12:14:01","date_gmt":"2023-08-30T12:14:01","guid":{"rendered":"https:\/\/vibrantfinserv.com\/kb\/?p=17301"},"modified":"2024-04-12T10:02:56","modified_gmt":"2024-04-12T10:02:56","slug":"tax-audit-report-for-automobile","status":"publish","type":"post","link":"https:\/\/vibrantfinserv.com\/kb\/tax-audit-report-for-automobile\/","title":{"rendered":"45. What is the threshold limit and due date of tax audit report for Automobile Dealers?"},"content":{"rendered":"<h2 style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-18 alignleft\" src=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/05\/Logo-Vibrant-FinServ-300x143.png\" alt=\"\" width=\"103\" height=\"49\" srcset=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/05\/Logo-Vibrant-FinServ-300x143.png 300w, https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/05\/Logo-Vibrant-FinServ.png 482w\" sizes=\"auto, (max-width: 103px) 100vw, 103px\" \/><img loading=\"lazy\" decoding=\"async\" class=\"alignright\" src=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/76.jpg\" alt=\"Tax Audit Report for Automobile\" width=\"310\" height=\"163\" \/>Tax Audit Report for Automobile<\/h2>\n<h4><\/h4>\n<p><span style=\"color: #000000;\">Tax Audit Report for Automobile dealers stands at Rs. 10 crore, provided that cash transactions remain below 5% of the total transactions.<\/span><\/p>\n<p><span style=\"color: #000000;\"> This means that if an automobile dealer&#8217;s total turnover during a financial year is Rs. 10 crore or more, and if the cash receipts and cash payments do not exceed 5% of the total receipts and payments, then the dealer is required to get his\/her books of accounts audited by a chartered accountant.<\/span><\/p>\n<p><span style=\"color: #000000;\">The due date for filing the tax audit report is 30th September of the assessment year following the financial year in which the audit was conducted. <\/span><\/p>\n<p><span style=\"color: #000000;\">For example, if the audit is conducted for the financial year 2023-2024, then the due date for filing the report is 30th September 2024.<\/span><\/p>\n<p><strong><span style=\"color: #000000;\">For more information visit this site<\/span>: <a href=\"https:\/\/www.mca.gov.in\/\">https:\/\/www.mca.gov.in\/<\/a><\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft\" src=\"https:\/\/encrypted-tbn0.gstatic.com\/images?q=tbn:ANd9GcSXjYfYGLzGuuvNS7HVls9nMX3_7Fd7VRazfw&amp;usqp=CAU\" alt=\"Know Tax Audit Limit for FY 2019-20 and FY 2020-21 for Business and Profession - Faceless Compliance\" width=\"243\" height=\"136\" \/><\/p>\n<p><span style=\"color: #000000;\">Please note that the threshold limit for tax audit can be different for different categories of taxpayers.<\/span><\/p>\n<p><span style=\"color: #000000;\"> For example, the threshold limit for tax audit for a company is Rs. 20 crore.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center;\"><strong><span style=\"color: #000000;\">For further details access our website:<\/span> <a href=\"https:\/\/vibrantfinserv.com\">https:\/\/vibrantfinserv.com<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>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&#8217;s total turnover during a financial year is Rs. 10 crore or more, and if the cash receipts and cash payments do\u2026 <span class=\"read-more\"><a href=\"https:\/\/vibrantfinserv.com\/kb\/tax-audit-report-for-automobile\/\">Read More &raquo;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":17448,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2540],"tags":[3839,3840,3674],"class_list":["post-17301","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tax-audit","tag-autodealertaxaudit","tag-taxauditguidelines","tag-taxauditinfo"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Tax Audit Report for Automobile\/ Article\/ VibrantFinserv-<\/title>\n<meta name=\"description\" content=\"Tax Audit Report for Automobile dealers stands at Rs. 10 crore, provided that cash transactions remain below 5% of the total transactions. -\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/vibrantfinserv.com\/kb\/tax-audit-report-for-automobile\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tax Audit Report for Automobile\/ Article\/ VibrantFinserv-\" \/>\n<meta property=\"og:description\" content=\"Tax Audit Report for Automobile dealers stands at Rs. 10 crore, provided that cash transactions remain below 5% of the total transactions. -\" \/>\n<meta property=\"og:url\" content=\"https:\/\/vibrantfinserv.com\/kb\/tax-audit-report-for-automobile\/\" \/>\n<meta property=\"og:site_name\" content=\"Knowledge Base | Vibrant Finserv\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-30T12:14:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-12T10:02:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/76.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"310\" \/>\n\t<meta property=\"og:image:height\" content=\"163\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"kbadmin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"kbadmin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/vibrantfinserv.com\/kb\/tax-audit-report-for-automobile\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/vibrantfinserv.com\/kb\/tax-audit-report-for-automobile\/\"},\"author\":{\"name\":\"kbadmin\",\"@id\":\"https:\/\/vibrantfinserv.com\/kb\/#\/schema\/person\/51e4fe2a2fecbd55efb5d87c1afe5345\"},\"headline\":\"45. 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