To reduce the compliance burden on the smallest businesses, industry bodies have formally requested the government to amend Section 44AB of the Income Tax Act. The proposal seeks to exempt all micro-enterprises with a turnover of up to ₹10 crore from mandatory tax audits, regardless of their profit margins. This move is expected to save small business owners between ₹75,000 and ₹1.5 lakh annually in compliance and accounting costs.
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To reduce the compliance burden on the smallest businesses, industry bodies have formally requested the government to amend Section 44AB…
The startup funding landscape started 2026 on a strong note with significant rounds in healthcare and consumer brands. FutureCure Health,…
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Under the newly operational Export Promotion Mission (EPM), the government has introduced two major interventions to help small businesses enter…
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Expansion of Tax Audit Exemptions for Micro Enterprises
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