Tax Audit & Filing

One should understand that the return you are filing currently is for the income earned during the Financial Year 2021-22 (01 April 2021 to 31 March 2022). The Assessment year will be the year in which you file your returns and declare to the Income Tax Department.

What is TAX AUDIT

Nature of Business or Profession
Category
of
Taxpayer
When is the
audit
mandatory?

Any professions

Any

If gross receipts from the profession during the relevant previous year exceed Rs. 50 lakhs.

Business

Both payment and receipt in cash do not exceed 5% of the total receipts and payment, respectively.

If total sales, turnover or gross receipt from the business during the previous year exceeds Rs. 10 crores.

Business

Either payment or receipt in cash exceeds 5% of the total receipts and payment, respectively.

If total sales, turnover or gross receipt from the business during the previous year exceeds Rs. 1 crore

Income Tax Filing Due Dates

For FY 2021-22 :

30 Sept 2022

Tax Audit Report

(Other than Transfer Pricing)

30 Nov 2022

ITR Filing of transfer pricing cases

31 Dec 2022

Belated or Revised return filing (for FY 2021-22)

31 Oct 2022

Transfer Pricing Report (undertaken International or Specified Domestic Transactions)

31 Oct 2022

ITR Filing (for tax audit cases without transfer pricing)

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