Mastering Income Tax Audits Under Section 44AB: Criteria, Reporting, and Penalties Explained

The blog explains audits, particularly focusing on income tax and tax audits to verify financial accuracy and compliance. It outlines audit types, turnover limits, submission deadlines, and penalties for non-filing. Understanding this process ensures transparency, reduces legal risks, and supports proper tax management. Careful audit preparation is critical to maintain financial integrity and avoid significant fines.