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Question ID : 42195

Tax audit

In AY2020-21 assessee filed his return of income after getting tax audit done under proviso of Sec44AB(d) as his net profit was Less than 8%. Now in AY2021-22, the assesse has incurred loss/profit below 8%, and his total income below taxable income. 1. Is tax audit is required for AY2021-22. 2. If other income exceeds taxable limit whether tax audit is required

Posted by Sadhana N.Kubal on Dec 15, 2021

Filed Under DIRECT TAXES

Answer ID : 81392

If total Income less than Basic exemption limit then audit not required otherwise audit should be done.

Posted by VINAY BHARGAV KUMAR G on Dec 24, 2021