Section 44AB — Is Tax Audit Applicable to You?
Under Section 44AB of the Income Tax Act, businesses with a turnover exceeding ₹1 crore (₹10 crore if >95% transactions are digital) and professionals with gross receipts exceeding ₹50 lakhs are required to get their accounts audited by a Chartered Accountant.
CA Vaibhav conducts thorough tax audits, ensuring all clauses of Form 3CD are accurately reported and the audit report is filed before the October 31 deadline.
Form 3CA / 3CB
Audit report under Section 44AB — Form 3CA for existing audit cases, 3CB for others.
Form 3CD Reporting
Detailed statement of particulars required under Rule 6G — all 44 clauses accurately reported.
Transfer Pricing
Form 3CEB for international and specified domestic transactions with related parties.
Presumptive Tax Verification
Verification of presumptive taxation under Sec 44AD, 44ADA, and 44AE where applicable.
Timely Filing
We ensure audit completion and report filing well ahead of the statutory deadline.
Penalty Avoidance
Avoid 0.5% of turnover penalty (min ₹1.5L) for non-compliance with tax audit provisions.
Tax Audit Process
Books Examination
Review of books of accounts, vouchers, and supporting documents.
Clause-wise Verification
Systematic verification of all 44 clauses of Form 3CD with cross-referencing.
Audit Report Preparation
Preparation of Form 3CA/3CB and Form 3CD with all required particulars.
Digital Filing
Filing of audit report on the Income Tax e-filing portal with digital signature.