Income Tax Audit

Home Income Tax Audit

Complete Tax Audit Assistance at your Fingertips

Break the Barriers! Get Professional Aid & Hands-On Guidance on your Taxation Audits to Legally Save your Hard-earned Money.

Quick Registration for Online Tax Audit

Consult with CA | Quick Process | 100% Data Privacy

What is the Tax Audit process?
Which Act of the Indian Govt. oversees the Tax Audit process in the country?
Who can conduct the Tax Audit procedure?


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How We Work?


01

Step 01

Fill the Form and Make the Payment

02

Step 02

Get a Call from our In-House CAs & Taxation Experts

03

Step 03

Submit the Documents, and Records as Requested

04

Step 04

The CAs will Analyze, and Begin with the Tax Audit Process

05

Step 05

Following the Completion of the Tax Audit, we will get your Approval for the same

06

Step 06

Finalised and Approved Tax Audit report will be submitted to the Income Tax Department

Online Tax Audit Packages


Rs.14999

Request Callback
  • Upto Rs. 50 Lakhs Annual
    Turnover
  • ■ Bank Statement checking BRS
  • ■ Input Tax reconciliation in GST
  • ■ TDS Reconciliation
  • ■ Books of Accounts Checking
  • ■ Deprecation of FA
  • ■ Sec-43 B
  • ■ Sec-40A &40A(3)
  • ■ Applicability of ICDS
  • ■ Sec- 269SS & 269ST
  • ■ Tax Audit Report filing- 3CD &3CA
  • ■ Finalization of Computation
  • ■ Stock Valuation
  • ■ Deemed Dividend
  • ■ Profit Analysing & Tax Determination

Rs.24999

Request Callback
  • Upto Rs. 1 Crore Annual Turnover
  • ■ Bank Statement checking BRS
  • ■ Input Tax reconciliation in GST
  • ■ TDS Reconciliation
  • ■ Books of Accounts Checking
  • ■ Deprecation of FA
  • ■ Sec-43 B
  • ■ Sec-40A &40A(3)
  • ■ Applicability of ICDS
  • ■ Sec- 269SS & 269ST
  • ■ Tax Audit Report filing- 3CD &3CA
  • ■ Finalization of Computation
  • ■ Stock Valuation
  • ■ Deemed Dividend
  • ■ Profit Analysing & Tax Determination

Rs.39999

Request Callback
  • For Rs. 1 - 5 Crores Annual
    Turnover
  • ■ Bank Statement checking BRS
  • ■ Input Tax reconciliation in GST
  • ■ TDS Reconciliation
  • ■ Books of Accounts Checking
  • ■ Deprecation of FA
  • ■ Sec-43 B
  • ■ Sec-40A &40A(3)
  • ■ Applicability of ICDS
  • ■ Sec- 269SS & 269ST
  • ■ Tax Audit Report filing- 3CD &3CA
  • ■ Finalization of Computation
  • ■ Stock Valuation
  • ■ Deemed Dividend
  • ■ Profit Analysing & Tax Determination

Rs.49999

Request Callback
  • For Rs. 5 - 10 Crores Annual
    Turnover
  • ■ Bank Statement checking BRS
  • ■ Input Tax reconciliation in GST
  • ■ TDS Reconciliation
  • ■ Books of Accounts Checking
  • ■ Deprecation of FA
  • ■ Sec-43 B
  • ■ Sec-40A &40A(3)
  • ■ Applicability of ICDS
  • ■ Sec- 269SS & 269ST
  • ■ Tax Audit Report filing- 3CD &3CA
  • ■ Finalization of Computation
  • ■ Stock Valuation
  • ■ Deemed Dividend
  • ■ Profit Analysing & Tax Determination

Importance of Tax Audits in India



Proper Maintenance of Transactions

Tax Audit requires the updated data of every day transactions and financial records that helps in effortlessly maintaining the financial affairs’ records

Reduces Fraudulent Tax
Practices

Through properly managed and calculated Tax Audits, the chances of facing any taxation frauds get reduced


Appropriate Cash Flow Management

In the process of Auditing the Taxations, the concerned Individual or Business Venture can track the total income and financial claims from the marketplace in a proper manner

Time Saving

While conducting the Tax Audit in a proper manner, a business organization will make the process easier for the country’s taxation regulatory board and saves a lot of time by eliminating the administrative hassles

Legal Facilitation

Income Tax Audits are the credentials that can be used to any Assessing Officials or the Regulating Authorities and getting the beneficial Govt. schemes

Notable Legal Compliances of Tax Audit

Based on the business type and the annual turnover status, there are categories under which the GST return filing could be carried out:


Section 44AB

Section 44AB states the General Regulations of the Tax Audit procedure

Who are liable to get the Tax Audit done -

• An Individual conducting business with an annual turnover of upto 1 Crore and above

• An Individual engaged in any profession and earning upto 50 Lakhs and above

• An Individual who falls under the taxation scheme under Section 44AE but claims that lower Business Profit as per Section 44AE calculations

• An Individual being qualified for the taxation schemes under Section 44AD but later claims a lower business profit than the presumptive taxation amount. It happens in cases where the income on record exceeds the ‘tax-free’ category amount

Different Forms of Tax Audit -

• Form 3CA & Form 3CD In case a Taxpayer chooses to get the Accounts Audited under any Prescribed Law other than Section 44AB, then the applicable form is the Form 3CA and the submitted details to be noted in the Form 3CD

• Form 3CB & Form 3CD In case a Taxpayer conduct the Audit under the provisions of Section 44AB of the relevant Act, then the Form 3CB and other submitted details to be noted in the Form 3CD

Section 44AE

Relevant for the Business Ventures specialising in Hiring, Leasing, or Plying of Goods Carriages

Section 44AD

Applicable for any other Business Ventures mentioned under Section 44AE

Section 44BB

Applicable for Non-Resident Indians involved in business activities in the Minerals, Oil Industry

Section 44AD

Applicable for International Organizations involved in any sort of Civil Construction Business, or Power Projects

    Due Date for Conducting Tax Audit
  • Any Business Individual or Entity falls under Section 44AB required to to get their Accounts Audited and get the Audit Report on or before 30th September for the corresponding Financial Year
    Penalties for Non-Compliance of Tax Audit
  • As per the Income Tax Act, 1961, the non-compliance of Tax Audit would lead to Penalty of whichever is lower form the followings -
    1. 0.5% of the total Sales amount or Annual Turnover or Gross Receipts
    2. Rs. 1,50,000

FAQs

Can I submit the Audit Reports of multiple FYs at a single time?
Is it required to visit any Department or Govt. Offices for the Tax Audit process?
Is GST Audit falls under the Tax Audit provision?
Are the NRIs mandated to conduct the Tax Audit?