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Statutory Audit

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Rs.18,999/ +Taxes* Onwards


  • To ensure the book of account and other records of assessee are porperly mainained.
  • Report the requirements of Form no 3CA/3CB and 3CD
  • Facilitate the organization of tax laws by person proper arrangement of accounts before tax authorities considerly save the the time of passing officers in carrying out routine verification.
  • Book of account correctly reflect the income of tax payers and deduction are correct declared

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Tax Audit

A tax audit is an examine of an organization’s or individual’s tax return to verfy that financial information is being reported correctly. Typically, your tax return is chosen for audit when something you have entered on your return is out of the ordinary. The chances of being singled out for closer scruntiny are statistically low; there are factors that could increase your odds of receiving notice. Fortunately, there are measures you can take now to minimize future problems. The provision for tax audits in India are covered under section 44AB of the income tax Act 1961. There are three types of IRS audit.
Mail audits:- A mail audit is the simplest types of IRS examination and does not require you to meet with an auditor in person. Usually, the IRS requests additional documentation to substantiate various items you report on tax return.
Office audits:-Audit office is an in person audit deportment at a local IRS office. These audits are more in complexity than mail audits and usually include questioning by an audit officer about information on your return. You can say to bring specific information to an office audit, like as the record of business and the books or bank statement and receipts.
Field audits:-It is the largest type of examination that the IRS conducts. An IRS agent will conduct the audit at your home or place of business. Usually, field audits are conducted when the IRS is questioning more than just an assumption or two. It is typically very thorugh and will shield many, if not all, items on your return.

Objective of Tax Audit:

  • To ensure the book of account and other records of
    assessee are porperly mainained.
  • Report the requirements of Form no 3CA/3CB and 3CD
  • Facilitate the organization of tax laws by person proper
    arrangement of accounts before tax authorities considerly
    save the the time of passing officers in carrying out routine
    verification.
  • Book of account correctly reflect the income of tax payers
    and deduction are correct declared

Our Package Include

According to section 44AB if the satisfying any of the following conditions:

  • Any business men carrying on profession and gross receipts in profession
    for the year exceed Rs 25 lakhs
  • Any individual carrying on business and his/her total sales, turnover or gross
    receipts for the financial yearexceed 1 crore. As per ICAI guideline turnover is the
    aggregate value for which sales occurred or servie are rendered.
  • Any person carrying on a business where the profits and gains from the
    business are resolute on a presumtive basis under Section 44AE, 44AB, and
    who has claimed their income to be lower than the profits or gains of his business

Penalty

In any one fails to submit with the provisions relating to the Income Tax Audit, there is penalty of 0.5% of the total turnover or Rs. 1, 50,000 whichever is less. However, if a person has a reasonable cause for non filing of the tax audit report, then such a punishment may not be levied on him.