We all are aware that we will have to go through a tax audit if our turnover exceeds the prescribed number as prescribed by statute i.e. Income Tax Act 1961.
However, have you ever wondered why there is a requirement for tax audits? Or, what are the objectives of tax audits? In [...]
So, you have been working in a company, for more than a year now. But, you have never come across the term HRA benefits. As a result, you don't know how to claim it. Before knowing about claiming your HRA benefits, let us know about it. HRA is an allowance that can be claimed by [...]
The audit of the accounts of the income taxpayer in pursuance of the requirement of section 44AB of Income Tax Act, 1961 by a chartered accountant is called tax audit.Tax Audit and its Legal ProvisionsAs per section 44AB, it is compulsorily required for the following persons to c[...]