Tax Audit Services
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Our clients are our foremost assets hence we always tend to
provide customer centric tax compliance services. We deliver services keeping
ourselves in their shoes and thus delivering what exactly client expects.
Clients look for CA who understand all rules, regulations and Indian tax system
and delivers best services. K
M GATECHA & CO LLP has also team of experts professional blended with
expert tax knowledge and diverse experience. We provide best tax audit services
in Ahmedabad. As best CA in Ahmedabad our services includes accounting,company
formation,tax filing, etc.
Best Tax Audit Services in Ahmedabad
What is tax audit?
Section 44AB of the Income Tax Act 1961 states that if the turnover or total annual income of a business exceeds a prescribed limit, its accounts must be audited by a chartered accountant. The CPA provides its findings and observations in the tax audit report on forms 3CA/3CB and 3CD.A tax audit services is an independent examination of an entity’s books by an auditor, as required by the Income Tax Act 1961. Tax audits and the timely, transparent and clearly documented filing of tax returns is an important task for any assessee undergoing an audit. To achieve this goal, an independent tax auditor is needed to perform the task.
K M GATECHA & CO LLP is your best choice and trusted confidant, our team of experienced and dedicated auditors will add value to your account for best tax audit services in Ahmedabad. We truly understand the sensitivity and importance of tax company for businesses and other assessees and ensure that the highest level of ethical standards and the highest quality are maintained in our services.
What are objectives of tax audit in India?
- Ensure that accounting books are properly maintained and correct and have them certified by a chartered accountant.
- Auditors identify discrepancies in the books of accounts so that they can be corrected and accurate accounts maintained.
- Provide the required information, including deduction, depreciation, and legal compliance in the reporting format prescribed by the tax authority.
- Ensure that tax returns are accurate and filed correctly in accordance with the Income Tax Act.
Got a Question?
FAQ on tax audit services
All assessee whose turnover exceed limit specified under income tax are eligible for tax audit.
Tax audit limit for professional is Rs.50 lacs.
1) Login to https://eportal.incometax.gov.in/iec/foservices using PAN and password.
2) Navigate to Authorised partner section > My Chartered Accountant (CA) > Add CA.
Income tax audit is required to check various compliances by taxpayer under section 44AB with income tax provisions and also aims to fulfill requirements of Income Tax law.
Tax audit is as per Income Tax Act and statutory audit is as per various statues for eg: company audit as per company law.
Penalty for non filing of Tax audit report is lower of two from below as per section 271B:
1) 0.5% of the total sales, turnover, or gross receipt
2) Rs. 1,50,000
For assesses whose accounts are audited under any other law, tax audit report is prepared by auditor in form 3CA and annexure to audit report in form 3CD and for all other assesses tax audit report is prepared by auditor in form 3CB and annexure to audit report in form 3CD.
The law requires tax audit reports to be submitted by September 30 of the relevant assessment year. For assessees responsible for transfer pricing audits, the deadline is November 30 of the relevant assessment year.
Tax audit can be done with help of chartered accountant or firm of chartered accountant.
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