Tax Audit Services - Section 44AB

Professional Tax Audit by Expert Chartered Accountants

Starting from ₹25,000

Complete Form 3CA/3CB/3CD preparation | Books verification | Compliance guarantee

What is Tax Audit Under Section 44AB?

Tax Audit is a mandatory audit of books of accounts required under Section 44AB of the Income Tax Act for businesses and professionals meeting specified criteria. A qualified Chartered Accountant examines the accounts, verifies compliance, and issues an audit report.

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Business Audit

Required if business turnover exceeds ₹1 crore in a financial year (₹10 crore if 95% receipts are digital payments)

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Professional Audit

Mandatory if gross receipts from profession exceed ₹50 lakh in a financial year

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Presumptive Taxation

Required if profit declared is less than prescribed rates under Section 44AD (8%) or 44ADA (50%)

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Due Date

Tax Audit report must be obtained by September 30 and ITR filed by October 31 of assessment year

Who Needs Tax Audit?

⚠️ Mandatory Tax Audit Applies To:

  • Business with total sales/turnover/gross receipts exceeding ₹1 crore
  • Business opting for presumptive taxation (Section 44AD) but declaring profit less than 8% of turnover
  • Business with turnover exceeding ₹10 crore (if 95% or more receipts are digital)
  • Professionals with gross receipts exceeding ₹50 lakh in the financial year
  • Professionals under Section 44ADA declaring profit less than 50% of gross receipts
  • Specified persons (carrying on business) as per Section 44AB clauses

Exemptions from Tax Audit

Our Tax Audit Services

Comprehensive tax audit solutions ensuring complete compliance and accurate reporting

Tax Audit Process

Simple 6-step process for hassle-free tax audit completion

1

Initial Consultation

Discuss business nature, turnover, and audit requirements

2

Document Collection

Submit books of accounts, bank statements, bills, and supporting documents

3

Books Examination

Detailed verification of accounts, transactions, and compliance

4

Query Clarification

Resolve queries, obtain additional documents if needed

5

Report Preparation

Draft Form 3CA/3CB and Form 3CD with complete particulars

6

Report Filing & ITR

Upload audit report and assist with ITR filing by due date

Documents Required for Tax Audit

Comprehensive checklist of documents needed for smooth tax audit

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Books of Accounts

  • ✓ General Ledger
  • ✓ Cash Book / Bank Book
  • ✓ Purchase & Sales Register
  • ✓ Journal Entries
  • ✓ Trial Balance
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Financial Documents

  • ✓ Profit & Loss Account
  • ✓ Balance Sheet
  • ✓ Bank Statements (all accounts)
  • ✓ Fixed Asset Register
  • ✓ Stock Register
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Bills & Invoices

  • ✓ Purchase Bills/Invoices
  • ✓ Sales Bills/Invoices
  • ✓ Expense Bills
  • ✓ Import/Export Documents
  • ✓ Debit/Credit Notes
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Tax Documents

  • ✓ GST Returns (GSTR-1, 3B)
  • ✓ TDS Certificates (26AS)
  • ✓ TDS Returns Filed
  • ✓ Previous Year ITR & Audit Report
  • ✓ Tax Payment Challans
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Business Documents

  • ✓ PAN Card
  • ✓ Aadhaar Card
  • ✓ Business Registration Certificate
  • ✓ Partnership Deed / MOA-AOA
  • ✓ GST Registration Certificate
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Additional Documents

  • ✓ Loan Agreements
  • ✓ Asset Purchase Invoices
  • ✓ Rent Agreements
  • ✓ Salary Register
  • ✓ Audit Report of Previous Year

Tax Audit Fees & Pricing

Transparent and competitive pricing based on business complexity

Turnover Range Tax Audit Fees Scope of Work
Up to ₹2 Crores ₹25,000 - ₹35,000 Basic audit, single location, simple transactions
₹2 Cr - ₹5 Crores ₹35,000 - ₹50,000 Standard audit with moderate complexity
₹5 Cr - ₹10 Crores ₹50,000 - ₹75,000 Detailed audit, multiple locations possible
Above ₹10 Crores ₹75,000+ Comprehensive audit, customized pricing

💡 Factors Affecting Tax Audit Fees:

  • Annual turnover and transaction volume
  • Number of business locations and branches
  • Complexity of transactions (import/export, related party transactions)
  • Quality and maintenance of books of accounts
  • Industry type and regulatory requirements
  • Timeline and urgency of completion

Benefits of Professional Tax Audit

Legal Compliance

Ensure full compliance with Income Tax Act provisions and avoid penalties for non-filing

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Error Detection

Identify accounting errors, tax calculation mistakes, and compliance gaps before tax filing

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Tax Optimization

Discover legitimate deductions, exemptions, and tax-saving opportunities

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Financial Accuracy

Get accurate financial statements verified by qualified CA for business decisions

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Penalty Protection

Avoid heavy penalties for non-compliance or incorrect tax calculations

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Business Insights

Gain valuable insights into business performance and financial health

Penalties for Non-Compliance

Understanding the consequences of not getting tax audit done

⚠️ Penalties Under Income Tax Act:

  • Section 271B: Penalty of 0.5% of total sales/turnover/gross receipts OR ₹1,50,000, whichever is LESS, for failure to get accounts audited
  • Section 271B: Penalty for not getting accounts audited before specified date
  • Section 271A: Penalty up to ₹1,50,000 for failure to maintain books of accounts
  • Prosecution: Rigorous imprisonment up to 1 year under Section 276CC for willful failure to furnish audit report
  • Interest: Interest under Section 234A, 234B, and 234C for delayed tax payments
  • Late Filing Fee: Fee under Section 234F up to ₹10,000 for delayed ITR filing

Important Due Dates

Event Due Date Remarks
Tax Audit Report September 30 Audit report must be obtained by this date
ITR Filing (Tax Audit) October 31 For cases requiring tax audit
ITR Filing (TP Cases) November 30 For cases involving transfer pricing
Revised Return December 31 Last date to file revised return

Why Choose Sidhi & Associates for Tax Audit?

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Expert CA Team

15+ years experienced chartered accountants specialized in tax audit and compliance

Timely Delivery

Guaranteed completion before due dates with no last-minute hassles

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100% Accuracy

Thorough verification ensuring error-free audit reports and tax computations

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Data Security

Complete confidentiality and secure handling of your financial information

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Dedicated Support

Personal CA assigned for your audit with direct communication channel

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Competitive Pricing

Transparent pricing with no hidden charges, customized quotes available

Frequently Asked Questions

Q1: What is the turnover limit for tax audit?

A: Tax audit is mandatory if business turnover exceeds ₹1 crore (or ₹10 crore if 95% receipts are digital) or if professional gross receipts exceed ₹50 lakh in a financial year.

Q2: What is Form 3CD?

A: Form 3CD contains detailed particulars required to be furnished by the auditor covering various aspects like method of accounting, profits & gains from business, depreciation, deductions claimed, loans & advances, and other specific disclosures.

Q3: What is the difference between Form 3CA and 3CB?

A: Form 3CA is used when accounts are subject to audit under any other law (like Companies Act), while Form 3CB is used in all other cases where only tax audit under Section 44AB is required.

Q4: Can I file ITR without tax audit if eligible?

A: No, if you meet the criteria for tax audit, you must get the audit done and obtain the audit report before filing ITR. Filing without audit when required will lead to penalties and the return may be considered defective.

Q5: How long does tax audit take?

A: Depending on the size and complexity of business, tax audit typically takes 2-4 weeks from the date of receiving complete documents. We recommend starting the process by August to complete before September 30 deadline.

Q6: Do I need to maintain books of accounts?

A: Yes, if your business is liable for tax audit, you must maintain regular books of accounts including cash book, ledger, journal, and supporting documents like bills, vouchers, bank statements, etc.

Q7: What happens if I miss the tax audit deadline?

A: Missing the September 30 deadline can result in penalty under Section 271B (up to ₹1.5 lakh or 0.5% of turnover, whichever is less) and you cannot file ITR on time, leading to additional penalties and interest.

Q8: Is tax audit required for professionals?

A: Yes, professionals (doctors, lawyers, consultants, etc.) with gross receipts exceeding ₹50 lakh must get tax audit done under Section 44AB.

Get Your Tax Audit Done Today!

Don't miss the deadline! Contact our expert CAs for professional tax audit services

✓ Free Consultation | ✓ Transparent Pricing | ✓ Timely Delivery | ✓ Expert Team