What is the extension of audit?

There will be no further extension for filing of audit reports related with Assessment Year 2020-21 (Financial Year 2019-20). The last date for filing various audit reports under the Income Tax Act, including tax audit report and report in respect of international/specified domestic transaction, is January 15.

Can audit date extended?

The date for furnishing audit report has been extended to October 31, from September 30, for the same assessment year. For corporate taxpayers and individual taxpayers liable to tax audit, the due to date of filing return for AY 2021-22 has been extended to November 30 from October 31.

Is GST audit date going to extend?

The due date to file GSTR-9 & GSTR-9C for the FY 2019-20 has been further extended up to 31st March 2021. The due date to file GSTR-9 & GSTR-9C for the FY 2019-20 has been extended up to 28th February 2021.

What is the due date for statutory audit?

Due date for Statutory Audit report and Income Tax Return filing: 10.01. 2021 – As extended. The due date for filing Income tax Returns by the taxpayers (who does not require to get their accounts audited) for FY 2019-20 has been further extended to 10th January 2021 from December 31st, 2020 and November 30, 2020.

What is GST audit due date?

Due dates for submission of GST Audit report GSTR-9 and GSTR-9C are due on or before 31st December^ of the subsequent fiscal year. The due date can get extended through a CBIC notification.

How is tax audit limit calculated?

Tax Audit Limit for AY 2020-2021 The tax audit limit of Rs 1 crore has been increased to Rs 5 crore with effect from AY 2020-21 (FY 2019-20) if the taxpayer’s cash receipts are limited to 5% of the gross receipts or turnover, and if the taxpayer’s cash payments are limited to 5% of the aggregate payments.

What is the last date of company audit?

According to the income tax law, for individuals whose accounts are not required to be audited and who usually file their income tax return using ITR-1 or ITR-4 forms, the deadline to file ITR is July 31. The deadline for taxpayers, like companies or firms, whose accounts are required to be audited is October 31.

What is the tax audit limit for AY 2021 22?

Although section 44AB limit is still Rs. 1 crore and 44AD limit is 2 Crore (except specified above)….Tax Audit Limit for Individual/HUF/firm engaged in Profession.