Tax Audit
A Tax Audit is a review of your business's financial records conducted under Section 44AB of the Income Tax Act. It is mandatory for:
✅ Businesses with turnover exceeding ₹1 crore (₹10 crore if cash transactions are within the prescribed limit).
✅ Professionals with gross receipts over ₹50 lakhs.
The audit is performed by a Chartered Accountant and the audit report is filed in Form 3CA/3CB along with Form 3CD.
Starts from ₹4,500/-
Timeline : 7-15 Days
Proprietorship
Benefits
✅ Compliance Assurance: Meets legal requirements and avoids penalties.
✅ Financial Accuracy: Identifies errors or misstatements in accounts.
✅ Improved Credibility: Increases trust with banks, investors, and stakeholders.
✅ Helps in Tax Planning: Provides insights for lawful tax saving.
✅ Ease in Loan Processing: Audited financials support faster approval
Documents Required
✅ GST Crediantials
✅ Income Tax Returns of Crediantials
✅ Financial Statements (Balance Sheet, P&L, Cash Flow)
✅ Books of accounts – Ledger, Journal, Cash Book, Bank Book
✅ Bank Statements and loan documents
✅ Details of fixed assets and depreciation
✅ Sales and purchase registers
✅ Expense vouchers and payroll records
✅ TDS returns and challans
✅ Agreements/contracts (if applicable)
✅ Stock register and inventory details
Proprietorship
Deliverables
✅ Audit Report (Form 3CA or 3CB)
✅ Statement of particulars (Form 3CD)
✅ Summary of audit observations and recommendations
✅ Signed copy of audited financial statements