Applicability of Income Tax Audit #taxaudit #incometax #charteredaccountant @curiousca

Tax Audit is applicable since the year 1984. The provision of Section 44AB
requires providing inputs useful for completing assessment of income.

Section 44AB of the Income-tax Act contains provisions pertaining to the tax
audit under the Income Tax Audit. A tax audit is an examination of a
taxpayer’s books of account and other relevant record. The examination is
conducted to ensure that during the tax audit, the person responsible for
issuing the tax audit report is expected to verify the financial statements
based on which income computation is based are true and fair and
particulars furnished in form No. 3CD are true and correct. A tax audit is a
measure which is initiated to curb incorrect tax practices. Tax audit is
allowed to be carried out only by the practicing-chartered accountants.

This Video is small summarisation of applicability of tax audit for AY 2022-23.

This is for educational purpose and not any professional advice or any claim. For any errors or complaints you can write us on Taxherbs@gmail.com

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