Tax Audit Limits for AY 2024 25
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- เผยแพร่เมื่อ 8 ก.ค. 2024
- Are you prepared for the upcoming financial year? Stay ahead of the game with our comprehensive guide on the Tax Audit Limit for Assessment Year 2024-25. In this informative video, we break down the crucial details about tax audit thresholds, exemptions, and changes that will impact individuals and businesses. Whether you're a taxpayer, accountant, or business owner, understanding the tax audit limit is essential for proper financial planning. Watch now to ensure you're in compliance and ready for the new financial year!
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Tags,
gst update,income tax update,Tax audit limits,Tax audit tunrover limit,Tax Audit,Income tax audit limit,Tax audit limit for AY 2024-25,24-25 tax audit limit,punishment clause tax audit
Video timeline
0:00 Intro to topic
0:24 Turnover limit for tax audit
2:09 Tax Audit if 44AD opted
6:11 Punishment clause of Tax Audit
9:46 Tax audit limit for professionals
13:11 Outro
Sir I have earlier also requested to make a detail video on Tax Audit. Please consider before tax audit season. Please Please Please. This is my 56 times please I am telling you
Sir i will definitely try
Nice video bhaiya
good information ✌🙏
BHAI JI HOLI MUBARAK
Guru ji namaste ❤😊
In case of loss from business or profession what would be the turnover limit for tax audit?
TIA
Hello sir ..Please Make video for tax audit in case of services sector..like Advertising...
Please Upload video for Gstr 3B settlement last March 3B pending ITC And Tax liability
My client turnover is 65 lacs and NP is > 8%
So not tax audit is required na?
Sir very useful but I have one doubt pls reply....here Total income means income from business or profession only or from all heads like salary, HP, CG , other sources, business ?
Sir,My turnover may cross 2 Cr..But my business Received only Digital receipts..No cash receipt..But cash withdrawal from current and savings account..I want to appear for New limit ..Then shall I file ..6 percent ..and 8 percent please clarify
Sir Ji Mene FY 22-23 44AD me ITR file kiya tha or udin generate ni kiya
But abhi home Lona ke liye apply kiya to bank wale udin ke bina Lona ni de rhe h to Ab Kya kre??
Please Reply
Sir Trade Name Change Hone Ke Baad Biil Book Bhe Change Hogi
TURNOVER GST KE SATH NIKALE YA BINA GST
LLP company h 1.5 cr turnover h...or abhi startup h... tax audit applicable hoga ya nahi
So if my gross receipts are 20 lakhs and i want to show profit (income) as 2 lakhs ... Audit would not be mandatory?
Already explain in video
STCG ke case me bhi turnover crore me ho to kya audit hota hai.
No
44ad mein 24.25 ki itr bhrte gai ab next a.y. 25.26 mein Audit Kara liye nhi honskata 5 years tak nhi nikl skate
Sir GST Registration me supplier ka legal name and trade name different Hai
GSTR 2A/2B me supplier ka konsa name reflect Hoga trade name or legal name?
Trade name hi reflect hoga
Aur samne wali party proprietorship hogi isliye legal name and trade name me difference to hoga hi
In the first year my book audited. Can a 3 year audit is compulsory
No such kind of provision ..you can audit your books of account whenever your tornover exceeds 1cr( other than 44AD)
2022-23. Tornover exceed 1cr you need to get audit
2023-24. Tornover less than 1 cr no need of audit
@@naveenparsa9865 current year my tourover not be exceed 1cr . But last year mera account ka audit hua tha kisi ne mera ko bataya tha ki 3 year audit Compulsory hai ..
Turnover means including GST or excluding GST
Excluding Gst
@@naveenparsa9865 Thanks for the reply
Ek aur case sir agar koi man lo ay 21-22 me 44ad me itr file karta hai aur agar ay 22-23 me 44ad se opt-out hokar 6/8% se kam profit hone par tax audit bhi kara leta hai. To ay 23-24 me vo fir se 6% se jyada profit dikhana chahta hai to itr 4 file kar sakta hai ya normal itr 3 hi file karna hoga
Once you opt out 44AD you cant filed return under 44 AD upto 5 FY (upcoming). So in your case you can file ITR 3 only ..total income exceed badoc excemption limit you need to get audit your books of accounts
@@naveenparsa9865 ji lekin Maine kai tax practitioner ko 1st year 44ad 2nd year normal provision because of tax audit then 3rd year fir se 44ad me itr file karte dekha hai to kya aap bata sakte hai ki isse kya paresani aa sakti hai aur kya aapko pata hai ki generally practice me log rules ko follow bhi karte hai ya nahi
@@deepakpatel4083 as per income tax act once you opted out 44AD you can not file under 44AD upto 5 years. And if you filed department may issue notice in future . And penalise 0.5% of tornover or 150000 WEL.. if suppose that year your Total GTI more than BE limit
@@naveenparsa9865 ye kuchh points likh raha hu please agar koi point galat ho to bata dena-
1. 1st year se 44ad me itr file karo hamesha 6/8 percentage se jyada income dikha kar tax audit nahi karna
2 . 1st year se normal provision me itr file karo chahe profit 6/8% se kam dikhao fir v tax audit nahi lagega
3. 1st 44ad me itr file kiya, 2nd year turnover jyada hone par tax audit kara liye 3rd year se fir se turnover 1cr se kam hone par normal provision me hi 6/8 % se jyada profit dikha kar next 5 year tak ITR file kro ya fir kam profit dikhana ho to income basic exemption limit se kam rakho
Please ek last bar confirm kar dijiye
Sir agar koi banda 1st year se hi 44ad opt n karke normal itr 3 file kar raha hai aur agar profit 6% se kam dikha Raha hai ex turnover 80 lack profit 4 lack(below 6%) to kya tax audit mandatory hai please sir yes or no me reply de dijiye bs
Here tornover is not exceeding 1 cr so no need of tax audit. suppose if you filed under 44AD in previous year and CY if you filed under normal return and if your total income exceed basic excemption limit then Tax audit is mandatory.
Ex: previous filed under 44AD
CY under normal return and total income exceed Badic excemption limit then tax audit mandatory
@@naveenparsa9865 thanks
ek aur question puchha hai maine comment me us case me bhi kya ho sakta hai bata dijiye
Sir ye chart konse aap mai banate ho aap
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