Section 44AB — the turnover limits, the 30 September date, and a penalty measured as a share of turnover.
A tax audit report in Form 3CA or 3CB with the 3CD annexure is due by 30 September, a month before the return it supports. The CBDT has extended this date in a number of recent years, usually close to it.
Whether you need one at all is the question worth settling early, because the thresholds are not a single number.
Form 3CA / 3CB + 3CD — miss it: 0.5% of turnover, up to ₹1,50,000 under section 271B
Income tax return — audit cases — miss it: ₹5,000 under section 234F, plus interest under 234A
Business turnover above ₹1 crore brings you in. But where cash receipts and cash payments are each 5% or less of the total, the limit rises substantially — which is why a largely digital business can be well above ₹1 crore and still outside audit.
For professionals the limit is gross receipts above ₹50 lakh. And presumptive taxation has its own trigger: declaring profits below the presumptive rate while your income exceeds the exemption limit requires an audit regardless of turnover.
Section 271B charges 0.5% of turnover, capped at ₹1,50,000. On a ₹3 crore turnover that is the full ₹1.5 lakh. Unlike the fixed late-filing fees, this one grows with the business, and it is levied for not getting the audit done rather than for filing the return late.
30 September following the financial year, one month before the return for audit cases. The CBDT has extended this in several recent years.
₹1 crore for business, rising substantially where cash receipts and cash payments are each 5% or less of the total. For professionals the limit is ₹50 lakh of gross receipts.
0.5% of turnover under section 271B, capped at ₹1,50,000.
Not sure whether this one is yours?
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Ask on WhatsAppStandard statutory dates, computed from today. Extensions notified by the CBDT or CBIC, ROC dates that follow your own AGM, and state-administered levies can all differ. General information, not advice on your position — confirm with us before you rely on a date that is close.
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