Tax Audit is a compulsory audit under section 44AB of the Income Tax Act in India which is conducted if the total turnover of a person exceeds prescribed threshold. Tax Audit Report is given by the Chartered Accountant to the person in form 3CD prescribed under the Income Tax Act. At the time of filing of the return of income relevant data from the Tax Audit Report has to be filled in the Return of Income.
Tax Audit is compulsory audit under the Income Tax Act in India which is conducted if the total turnover of a person exceeds Rs. 25,00,000 (25 lakhs) for professionals and Rs. 2,00,00,000 (2 crores) for persons other than professionals.
