Freelancers, SMEs Warned as ICAI Representation to CBDT Highlights Section 44AB
The Institute of Chartered Accountants of India (ICAI) has raised serious concerns with the Central Board of Direct Taxes (CBDT) about Section 44AB of the Income Tax Act. This section makes a tax audit compulsory once income or turnover crosses a set limit. Many freelancers, small businesses, and startups are now reaching that point because…