Tax Audit

✓ Tax audit is the verification of the books of accounts of an Assessee to validate the income tax computation and compliance with the laws of Income Tax.
✓ Auditing of books of accounts must be carried out by a certified Chartered Accountant.
✓ The provisions relating to tax audit are provided under Section 44AD of the Income Tax Act. According to Section 44AB, a tax audit is required for the following persons
✓ The following class of Persons required tax audit as per the provision of income tax act namely:-
Every person,—
a) Carrying on business shall, if his total sales, turnover or gross receipts, as the case may be, in business exceed or exceeds one crore rupees in any previous year; or
b) Carrying on profession shall, if his gross receipts in profession exceed fifty lakh rupees in any previous year; or
c) carrying on the business shall, if the profits and gains from the business are deemed to be the profits and gains of such person under section 44AE or section 44BB or section 44BBB, as the case may be, and he has claimed his income to be lower than the profits or gains so deemed to be the profits and gains of his business, as the case may be, in any previous year; or
d) carrying on the profession shall, if the profits and gains from the profession are deemed to be the profits and gains of such person under section 44ADA and he has claimed such income to be lower than the profits and gains so deemed to be the profits and gains of his profession and his income exceeds the maximum amount which is not chargeable to income-tax in any previous year; or
e) Carrying on the business shall, if the provisions of sub-section (4) of section 44AD are applicable in his case and his income exceeds the maximum amount which is not chargeable to income-tax in any previous year,
✓ We Require the following Documents for statutory Audit:
• Authorization letter of our firm:
• Accounting Ledgers i.e. Sales, purchase, receivable, payment, etc
• All purchase and Sales bill
• Bank Statements
• Other documents as may be required at the time of Audit.

We deliver the best services for Tax audits within India and abroad with Professionals Experts.