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Section 44AB - Audit of accounts of certain persons carrying on business or profession - Income-tax Act, 1961

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..... crore rupees”, the words “five crore rupees” had been substituted; or] (b) carrying on profession shall, if his gross receipts in profession exceed 21[ fifty lakh rupees ] in any 3[previous year; or (c) carrying on the business shall, if the profits and gains from the business are deemed to be the profits and gains of such person under 16[section 44AE] 4[or section 44BB or section 44BBB], as the case may be, and he has claimed his income to be lower than the profits or gains so deemed to be the profits and gains of his business, as the case may be, in any 17[previous year; or],] 18[(d) carrying on the 22[ profession ] shall, if the profits and gains from the 22[ profession ] are deemed to be the profits and gains of such p .....

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Section 44AB - Audit of accounts of certain persons carrying on business or profession - Income-tax Act, 1961

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..... o get his accounts audited 11[***], it shall be sufficient compliance with the provisions of this section if such person gets the accounts of such business or profession audited under such law before the specified date and 12[furnishes by] that date the report of the audit as required under such other law and a further report 13[by an accountant] in the form prescribed under this section. Explanation.-For the purposes of this section,- (i) "accountant" shall have the same meaning as in the Explanation below sub-section (2) of section 288; 14[(ii) "specified date", in relation to the accounts of the assessee of the previous year relevant to an assessment year, means 31[date one month prior to] the 15[the due date for furn .....

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Section 44AB - Audit of accounts of certain persons carrying on business or profession - Income-tax Act, 1961

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..... 988, w.e.f. 1-4-1989 and later on amended by the Finance Act, 1994, w.e.f. 1-4-1994, read as under : '(ii) "specified date", in relation to the accounts of the previous year relevant to an assessment year means,- (a) where the assessee is a company, the 30th day of November of the assessment year; (b) in any other case, the 31st day of October of the assessment year.' 15. Substituted for "31st day of October", by the Finance Act, 2008, w.e.f. 1-4-2008. Further Substituted vide Finance Act, 2012, w.e.f. 01-04-2013, before it was read as:- "the 30th day of September of the assessment year" 16. Substituted vide Finance (No. 2) Act, 2009 with effect from 1-4-2011, before it was read as, "section 44AD o .....

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Section 44AB - Audit of accounts of certain persons carrying on business or profession - Income-tax Act, 1961

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  1. Notification No. Notification No. 33/2018 - Dated: 20-7-2018 - Income-tax (8th Amendment) Rules, 2018
  2. Notification No. 2/2018 - Dated: 5-4-2018 - Procedure for registration and submission of Form No. 61 as per Rule 114D of Income-tax Rules, 1962.
  3. Notification No. 58/2017 - Dated: 3-7-2017 - Income –tax (18th Amendment) Rules, 2017
  4. Notification No. 1/2017 - Dated: 17-1-2017 - Procedure for registration and submission of statement of financial transactions (SFT) as per section 285BA of Income-tax Act, 1961 read with Rule 114E of Income-tax Rules,...
  5. Notification No. 87/2016 - Dated: 29-9-2016 - Income Computation and Disclosure Standards (ICDS) - New ICDS to be effective from AY 2017-18
  6. Notification No. 88/2016 - Dated: 29-9-2016 - Income-tax ( 23rd Amendment) Rules, 2016
  7. Notification No. S.O.420(E) - Dated: 4-6-1999 - Income-tax (Fourteenth Amendment) Rules, 1999
  8. Notification No. 33/2014 - Dated: 25-7-2014 - Income-tax (7th Amendment) Rules, 2014 - New Form No. 3CA, Form No. 3CB and Form No. 3CD
  9. Notification No. 36/2009 - Dated: 13-4-2009 - Income-tax (Tenth Amendment) Rules, 2009 - Insertion of item no. 17A to the form 3CD
  10. Notification No. S.O.1986 - Dated: 26-8-1993 - Due date for furnishing of tax audit reports by working partners of firms for the asessment year 1993-94
  11. Notification No. S.O.258 - Dated: 19-1-1993 - Extension of due dates for furnishing of return of income/loss and obtaining of Tax Audit Report by Company assessees for assessment year 1992-93
  12. Notification No. 280/2004 - Dated: 16-11-2004 - Income-tax (Fourteenth Amendment) Rules, 2004
  13. Notification No. 208/2006 - Dated: 10-8-2006 - Income-tax (Ninth Amendment) Rules, 2006
  1. Section 80JJAA - Deduction in respect of employment of new employees
  2. Section 71 - Access to business premises.
  3. Section 44D - Special provisions for computing income by way of royalties, etc., in the case of foreign companies
  4. Section 44BBB - Special provision for computing profits and gains of foreign companies engaged in the business of civil construction, etc., in certain turnkey power projects
  5. Section 44BBA - Special provision for computing profits and gains of the business of operation of aircraft in the case of non-residents
  6. Section 44BB - Special provision for computing profits and gains in connection with the business of exploration, etc., of mineral oils
  7. Section 44B - Special provision for computing profits and gains of shipping business in the case of non-residents
  8. Section 44AF - Special provisions for computing profits and gains of retail business
  9. Section 44AE - Special provision for computing profits and gains of business of plying, hiring or leasing goods carriages
  10. Section 44ADA - Special provision for computing profits and gains of profession on presumptive basis.
  11. Section 44AD - Special provision for computing profits and gains of business on presumptive basis.
  12. Section 288 - Appearance by authorised representative
  13. Section 271B - Failure to get accounts audited
  14. Section 206C - Profits and gains from the business of trading in alcoholic liquor, forest produce, scrap, etc.
  15. Section 194J - Fees for professional or technical services
  16. Section 194I - Rent
  17. Section 194H - Commission or brokerage
  18. Section 194C - Payments to contractors and sub-contractors
  19. Section 194A - Interest other than Interest on securities
  20. Section 139B - Scheme for submission of returns through Tax Return Preparers
  21. Section 139 - Return of income
  22. Section 115AD - Tax on income of Foreign Institutional Investors from securities or capital gains arising from their transfer
  23. Section 115AC - Tax on income from bonds or Global Depository Receipts purchased in foreign currency or capital gains arising from their transfer
  24. Section 115AB - Tax on income from units purchased in foreign currency or capital gains arising from their transfer
  25. Section 115A - Tax on dividends, royalty and technical service fees in the case of foreign companies
  26. Rule 6G - Report of audit of accounts to be furnished under section 44AB
  27. Rule 31AA - Statement of collection of tax under proviso to sub-section (3) of section 206C.
  28. Rule 31A - Quarterly statement of deduction of tax or collection of tax
  29. Rule 3 - Form of return of net wealth
  30. Rule 125 - Electronic-payment of tax
  31. Rule 12 - Return of income
  32. Rule 114E - Furnishing of statement of financial transaction.
  33. Rule 114D - Time and manner in which persons referred to in rule 114C shall furnish a statement containing particulars of Form No. 60.
  34. Form No. 3CD - Statement of particulars required to be furnished under Section 44AB of the Income Tax Act, 1961
  35. Form No. 3CB - Audit report under section 44AB of the Income-tax Act, 1961, in the case of a person referred to in clause (b) of sub-rule (1) of rule 6G
  36. Form No. 3CA - Audit report under section 44AB of the Income-tax Act, 1961, in a case where the accounts of the business of a person have been audited under any other law
  37. Manual - Section 44BBB - Special provision for computing profits and gains of foreign companies engaged in the business of civil construction
  38. Manual - Section 44BB - Special provision for computing profits and gains in connection with the business of exploration etc. of mineral oils
  39. Manual - Section 44AB - Audit of accounts of certain persons

 

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