Statutory Compliance Income Tax Act Error Free

Tax Audit

A detailed audit conducted under the Income Tax Act to ensure reporting accuracy, compliance, and tax transparency based on information provided by the assessee.

Overview What's Included Process Flow
Audit Documents
Financial Analysis
Data Charts

Overview Mandatory Compliance

A Tax Audit is an independent verification of a business’s books and compliance with the Income Tax Act. It ensures correct reporting of income, allowable deductions, statutory records, and tax calculations.

For businesses crossing the prescribed turnover or profit thresholds, a tax audit is a mandatory compliance requirement ensuring transparency and accuracy.

Tax Audit Overview
Verified Books Accurate Reporting

What’s Included Scope of Work

Comprehensive verification of your books of accounts.

44AB Compliance

Ensuring adherence to section 44AB of the IT Act.

Books & Records Verification

Detailed check of all financial books maintained.

Sample Vouching & Ledger Scrutiny

In-depth examination of ledgers and vouchers.

Form 3CA/3CB & 3CD Reporting

Filing the required statutory forms accurately.

Related Party Analysis

Scrutiny of transactions with related parties.

Ratio Analysis

Analyzing key financial ratios for consistency.

Transaction Reporting

Reporting under 44AA, 44AD, 40A, etc.

Tax Adjustments

Recommendations for necessary adjustments.

Process Flow Step-by-Step

Our structured approach to a seamless audit.

1

Understanding business tax structure

Analyzing your specific business model and applicability.
2

Reviewing transactions & tax positions

Evaluating entries for compliance with tax laws.
3

Reporting as per Form 3CA/3CD

Drafting the audit report in the prescribed format.
4

Tax risk identification

Highlighting potential risks and non-compliance areas.
5

Report finalisation

Concluding the audit and submitting final documents.

Deliverables Output

What you will receive upon completion.

Form 3CA/3CD Report
Tax audit observation notes
Tax-saving recommendations

FAQ

Quick Answers

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