Comprehensive Overview of Tax Audits Under Income Tax Laws

Ampuesto India14 Jan, 2025Finance

Tax audits are an essential mechanism designed to ensure transparency, accuracy, and compliance within the framework of income tax regulations. This comprehensive guide delves into the concept of tax audits, explaining their importance for businesses and individuals alike. Learn who is mandated to undergo a tax audit based on turnover thresholds, professional income limits, and other qualifying criteria.