Tax Audits under Income Tax Act
Descriptions
A Tax Audit under Section 44AB of the Income Tax Act is a mandatory examination of the accounts of certain businesses and professionals to ensure that their income, deductions, and compliance with tax laws are accurately reported. It helps verify the correctness of financial records, compliance with accounting standards, and timely payment of taxes. Conducting a proper tax audit not only ensures compliance but also minimizes the risk of scrutiny, penalties, or disallowances by the Income Tax Department.
Our team of qualified Chartered Accountants conducts comprehensive tax audits in accordance with the provisions of the Income Tax Act. We ensure accurate financial reporting, timely submission of audit reports, and full compliance with statutory requirements. With our professional guidance, you can maintain transparency, reduce tax risks, and enhance the credibility of your business in the eyes of regulatory authorities.
Key Highlights:
- Conducting tax audits under Section 44AB and other applicable provisions
- Verification of books of accounts, income, and deductions
- Preparation and filing of Form 3CA, 3CB, and 3CD
- Advisory on tax compliance, risk mitigation, and reporting accuracy
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