Tax Connect
madhuvridhi
Tag: Tax Audit
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Daily Books of Account Data and Documents Backup on Indian Servers: The New Legal Mandate Under Rule 46(8)
The books of account and other documents specified in sub-rules (1), (4) and (6) maintained in electronic mode shall remain accessible in India at all times, and the back-up of such books of account and other documents maintained in electronic mode, shall be kept in servers physically located in India, and shall be updated on…
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Increase in Tax Audit Limit Budget 2021
Under section 44AB of the Act, every person carrying on business is required to get his accounts audited, if his total sales, turnover or gross receipts, in business exceed or exceeds one crore rupees in any previous year. In case of a person carrying on profession he is required to get his accounts audited, if his gross…