August 1, 2024
Tax Audit for Proprietorship Firm- Guidance by WynSwell
In India, the Income Tax Act mandates a tax audit for certain categories of taxpayers to ensure the accuracy of income tax returns filed. For proprietorship firms, understanding the requirements and nuances of a tax audit is crucial to maintaining compliance and avoiding penalties. This article delves into the intricacies of the income tax audit…
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WynSwell Developer (Team C)
July 30, 2024
Income Tax Audit in India
When is an Income Tax Audit Required on a Mandatory Basis in India? Understanding the Limits Introduction In India, income tax audits are mandated by the Income Tax Act, 1961, under various sections, depending on the type of taxpayer and their financial activities. Understanding these mandatory requirements, including specific financial thresholds, helps businesses and individuals…
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WynSwell Developer (Team C)
July 30, 2024
CA for Business Audit
Chartered Accountant as Auditor for Income Tax Audits: What You Need to Know Introduction When it comes to income tax audits, the role of the auditor is crucial in ensuring that financial statements are accurate and compliant with tax laws. While auditors can come from various backgrounds, Chartered Accountants (CAs) are often the preferred choice…
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