Income Tax : Understand every reporting requirement under Form 3CD as amended by the Finance Act, 2026. This guide explains clause-wise disclos...
Income Tax : Understand who must undergo a tax audit under Section 44AB, the applicable turnover limits, audit forms, filing procedure, due dat...
Income Tax : Tax Audit Form 26 now requires reporting of both quantity and value of principal stock, purchases, and sales. The key takeaway is ...
Income Tax : The article analyses whether declaring profits below presumptive rates automatically triggers tax audit under the Income-tax Act, ...
Income Tax : The Income Tax Act, 2025 introduces detailed reporting requirements for books maintained in electronic form. Tax auditors must now...
CA, CS, CMA : The UDIN portal will now validate turnover, gross receipts, and presumptive tax conditions before allowing UDIN generation for tax...
CA, CS, CMA : UDIN generation now requires disclosure of preceding year audit details for specific audit categories. The update strengthens audi...
Income Tax : Gujarat HC has directed CBDT to ensure that there is a mandatory one-month gap between date for furnishing tax audit reports (unde...
Income Tax : Rajasthan High Court granted a one-month extension for filing TARs under Section 44AB for AY 2025-26, citing delayed audit utility...
Income Tax : The Pune Chartered Accountants' Society has requested an extension for tax audit and ITR filing deadlines for FY 2024-25, citing t...
Income Tax : ITAT Chennai held that the assessees bona fide belief, based on the Departments consistent acceptance of interest income as Income...
Income Tax : The Tribunal held that audit under section 44AB depends on turnover, not taxability of income. Exempt entities must still comply i...
Income Tax : ITAT Delhi allows Henna Industries' appeal, deleting a Rs. 9.30 lakh disallowance made by the CPC under Section 143(1), confirming...
Income Tax : HC directed CBDT to issue a circular extending due date for filing income tax returns to 30th November 2025, especially for taxpay...
Income Tax : The Gujarat High Court has issued notice to the Union of India, demanding an explanation for not extending the Income Tax Return (...
Income Tax : CBDT Circular 15/2025 extends the AY 2025-26 ITR filing deadline for audited accounts from Oct 31 to Dec 10, 2025. Audit reports a...
CA, CS, CMA : ICAI sets limit of 60 tax audit assignments per CA or partner annually, effective from 1 April 2026, replacing earlier 2008 guidel...
Income Tax : CBDT amends Income Tax Rules, effective April 1, 2025, revising Form 3CD, MSME interest provisions, buyback reporting, and loan/de...
Company Law : NFRA issues order penalizing CA Pawan Jain and Mis Kumar Jain & Associates for lapses in issuing reports under Income Tax Act for ...
Income Tax : Read Circular 18/2023 from the Government of India Ministry of Finance. Learn about the extension of the filing deadline for Incom...
CBDT extends due dt for filing of Income Tax Returns & audit reports from 30th Sept, 2018 to 15th Oct, 2018 for all assessees liable to file ITRs for AY 2018-19 by 30.09.2018, after considering representations from stakeholders. Liability to pay interest u/s. 234A of IT Act will remain. F.No. 225/358/2018/ITA.II Government of India Ministry […]
Tax Audit under Section 44AB of Income Tax Act A tax audit is an examination of an organization’s or individual’s tax return to verify that financial information is being reported correctly. Tax Audit is attracted on an Individual or an organisation on fulfilling the required conditions of the Income Tax act. 1. What are the […]
BJP economic Cell (Rajasthan), State Co-Convener CA R P Vijay & CA Sachin Kumar Jain have requested Honble FM to extend due date for submission of Tax Audit Reports and Income Tax Returns from 30 September, 2018 to 31 October, 2018 in the case of corporate assesses and where tax audit is applicable so that […]
Tax Audit ensures the correctness of Books of Accounts maintained by tax payer & Income is computed as per Income Tax Act. It is required to by conduct by a whole time practicing Chartered Accountant. It makes the Income Computation for filling the return easy. It is furnished in Form no. 3CA/3CB & Form no. 3CD.
South Gujarat textile traders association is the leading trade organization of south Gujarat. It is representing more than 40000 traders of surat and entire south Gujarat. The association has played vital role in disseminating awareness about GST and has held hundreds of meetings to clarify the doubts of the trade and industry.
I would like to attract your attention for seeking an extension of the Tax Audit date of 30th September 2018 being totally unjustified to look towards the fraternity of Chartered Accountants to complete their job within few days against the statutory availability of 180 days.
ICAI has for the third time in less than a month made a request for Extension for extension of time for submission of Tax Audit Reports and related returns from 30th September, 2018 to 31st October, 2018. Earlier ICAI has made representation dated 31st August, 2018 and 10th September, 2018. Read ICAI 1st Representation on […]
The Karnataka State Chartered Accountants Association (R) (in short ‘KSCAA’) is an association of Chartered Accountants, registered under the Karnataka Societies Registration Act, in the year 1957. KSCAA is primarily formed for the welfare of Chartered Accountants and represents before various regulatory authorities to resolve the professional problems faced by chartered accountants and business community.
AGFTC and ITBA has Requested Honourable Finance MInister to extend due date of 30th Sept. 2018 for submission of Tax Audit Reports and related I. Tax Returns for Ass. Yr. 2018-19 to 30th November 2018 vide its representation dated 17/09/2018. Relevant Text of the representation is as follows:- INCOME TAX BAR ASSOCIATION, AHMEDABAD Aayakar Bhavan, […]
Taxation Bar Association, Ludhiana has requested CBDT to extend the due date for furnishing the tax audit report and Income Tax tax return to be extended for a month to 31st October 2018. Relevant Text of Representation is as follows:- Sub: Request for Extension of due date for filing tax audit report and return of […]
