Today news
About the same in other media
I-T dept enables tax audit utility form for FY’20, FY’21
Reading now: 900
The income tax Department has enabled the tax audit utility form on its portal for financial year 2019-20 and 2020-21. Under the I-T Act, taxpayers are required to get their accounts audited if the sales, turnover or gross receipts of business exceed Rs 10 crore, while in case of professionals, the limit was over Rs 50 lakh in 2020-21 (AY 2021-22). The last date for filing the tax audit report for the 2020-21 fiscal is January 15, 2022.
For fiscal 2019-20 i.e. AY 2020-21, limit was Rs 5 crore for businesses and Rs 50 lakh for professionals and due date for original tax audit report was January 15, 2021. However, companies can still file the revised tax audit report for that year to rectify errors.
Nangia & Co LLP Director, Audit & Assurance,
Read more on financialexpress.comAbout this in other media
Your Queries (Income Tax): Understand reason for income tax notice before filing rectified return financialexpress.com /3 years ago
Main S Korea’s Presidential Candidates Oppose Crypto Tax – But Gov’t Won’t Budge cryptonews.com /3 years ago
ESG oriented blockchain wants on-chain ‘nutrition labels’ for every commodity exchanged cointelegraph.com /3 years ago
Show more
The website finance-news.co is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
