Income Tax Audit Limits For AY 2023-24
For the Assessment Year 2023-24, understanding the Income Tax Audit Limits is crucial for individuals and businesses alike. Income Tax Audit is mandatory for certain taxpayers, including businesses with a turnover exceeding a specified threshold. These limits determine who must undergo a detailed audit of their financial records by a Chartered Accountant. By staying informed about the Income Tax Audit Limits for AY 2023-24, taxpayers can ensure compliance with tax regulations and avoid penalties.