Income Tax Audit A tax audit is an examination of a tax return by the IRS to see whether income and deductions are correct and it is mandator under Section 44AB of the Income Tax Act of 1961. Any person conducting conducting business whose total sales or turnover exceeds Rs. 1 Crore, and any person conducting profession whose gross profits from profession exceed Rs. 50 Lakhs in the previous year, is required to have his tax audited by a Chartered Accountant. Visit - https://bit.ly/2S73JAq #IncomeTax #IncomeTaxAudit #india #Registration #finance #legalservices #india #business