What is deadline to file Tax Audit Reports to avoid penalties?
The deadline to file Tax Audit Reports under Section 44AB of the Income Tax Act is September 30. Businesses with turnover above ₹1 crore, or ₹10 crore if 95% of transactions are digital, must file. Professionals earning over ₹50 lakh annually and those under presumptive taxation with lower income must also comply to avoid penalties.