A Tax Audit is made compulsory by the Income Tax Act if the annual gross turnover/receipts of the assesse exceed the specified limit. Turnover More than1 Crore / 5 Crores with certain conditions If % Net profit is less than 8% If % Net profit is less than 6% only if gross total turnover or receipts received through banking mode & not by Cash Tax audit is conducted in Sec 44AB of the Income Tax Act,1961 by an Auditor in Anna Nagar.

Due Date: 30th September of the Current Financial Year