Download Tax Audit Income Tax Form 3CB PDF
You can download the Tax Audit Income Tax Form 3CB PDF for free using the direct download link given at the bottom of this article.
|File name||Tax Audit Income Tax Form 3CB PDF|
|No. of Pages||2|
|File size||232 KB|
|Date Added||Sep 24, 2022|
Tax Audit Income Tax Form 3CB Overview
In respect of a taxpayer carrying on any business or profession but who is not required to have his accounts audited under any other law. A proprietorship entity or partnership firm, having a turnover of more than Rs 1 crore and not opting for presumptive income scheme, is not required to get its accounts audited under any law other than income tax. So, it will submit Form 3CB.
If the taxpayer does not get his accounts audited or does not file the audit report, the Assessing Officer can levy penalty u/s 271B. Rs 1,50,000 Minimum penalty which may be 0.5% of the total sales, turnover or gross receipts, however, if the taxpayer gives reasonable reasons for non-compliance, no penalty shall be levied.
|Article||Tax Audit Income Tax Form 3CB|
|Beneficiary||All income tax payers|
|The gain||Beneficial to audit|