Under the existing provisions of section 44AB,
A person is required to get his accounts audited for the financial year 2011-12
(assessment year 2012-13) if Carrying on business and Total sales, turnover or gross
receipts > 60 Lakh Rupees or Carrying on a profession and Gross receipts > 15 Lakh
Note: It is proposed to increase these threshold limits from the assessment year
Forms available for the Audit report are 3CA, 3CB and 3CD.
The due date for filing of income tax returns for an assessee who is required to
complete a tax audit for his accounts as per section 44AB is 30th September.