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Sai Vishnu

Income Tax & GST Con... • 11h

🚀 Everything You Need to Know About TAX AUDIT in Just 5 Minutes! 📊💡 🔎 What is a Tax Audit? A tax audit is a detailed examination of a taxpayer’s books of accounts to verify: ✅ Income & Deductions ✅ Compliance with the Income Tax Act, 1961 ✅ Proper maintenance of records 📌 Who Needs a Tax Audit? 💼 Businesses & Professionals exceeding threshold limits under Section 44AB must get their accounts audited. 📝 Key Highlights: 📊 Turnover limits for businesses & professionals 📑 Mandatory forms – 3CA, 3CB, 3CD, 3CE ⏳ Due date – 30th September every year ⚠️ Penalty – 0.5% of turnover or ₹1,50,000 (whichever is lower) 💡 Why is Tax Audit Important? ✔ Ensures transparency & compliance ✔ Prevents tax evasion ✔ Reduces tax risks 📢 Aspiring CAs & Finance Enthusiasts – SAVE THIS POST! 🔖 Let's make finance simple and accessible! 🚀 Tag a friend who should know this! #TaxAudit #Finance #IncomeTax #CA #Audit #Taxation 👉🏻 #SecretsOnFinance

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