Tax-audit checker (s.44AB)
Three triggers: business turnover above ₹1,00,00,000 (or ₹10,00,00,000 when both cash receipts and cash payments are ≤ 5%); profession receipts above ₹50,00,000; or declaring below the presumptive deemed profit while still having taxable income.
Result
No s.44AB audit required (on the inputs given)
- Audit due: 30 September of the assessment year.
- Return due (audit cases): 31 October of the assessment year.
- s.271B penalty if missed: 0.5% of turnover, capped at ₹1,50,000.
NOT financial advice - seek advice from a professional for your specific situation
Read the matching guide: Tax audit under s.44AB →
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