Bulletproof Your Tax Compliance: Professional Tax Audits Under Section 44AB for Absolute Regulatory Peace of Mind.
Applicability (2026)
- Business Entities: Turnover > ₹1 Crore (or ₹10 Crores if 95%+ digital payments)
- Professionals: Gross receipts > ₹50 Lakhs
- Presumptive Taxation Opt-out: Taxpayers opting out of Sections 44AD/44ADA
Penalties
Section 271B
0.5% of turnover or ₹1,50,000 (whichever is lower)
Expense disallowance
Disallowance of key business expenses
Loss carry forward
Loss of right to carry forward business losses
Scrutiny risk
"Full Scrutiny" AI-based risk flagging