When turnover crosses the prescribed limit, the accounts must be audited and the audit report uploaded before the return is filed. Leaving it to the last week risks a penalty. We start early: finalising books, reconciling GST turnover with the accounts, and preparing the details the audit report asks for.
The tax audit report itself is examined and signed by a practising Chartered Accountant, as the law requires. We coordinate the whole process so you deal with one office.
Who needs Tax Audit Assistance?
- Businesses with turnover above ₹1 crore (higher limit applies where cash dealings are minimal)
- Professionals with receipts above the prescribed limit
- Presumptive-scheme taxpayers declaring lower profit than the scheme rate
- Businesses asked by a bank to submit audited accounts
Documents required
- Books of account or Tally backup
- Bank statements of all accounts
- GST returns for the year
- Loan statements and fixed-asset bills
- Stock statement as on year end
Our process
- 1Books are reviewed and closing entries passed
- 2GST, TDS and bank reconciliations are prepared
- 3Audit is carried out and the report signed by a Chartered Accountant
- 4The report is uploaded and the income tax return filed
Questions about Tax Audit Assistance
What happens if tax audit is missed?
A penalty linked to turnover can be levied, subject to a maximum amount, unless there is reasonable cause. Starting on time avoids the issue.
Is audit needed if I show 8% or 6% profit?
Eligible businesses under the presumptive scheme generally do not need an audit if they declare at least the scheme rate. We check eligibility for your case.
Who signs the audit report?
Only a Chartered Accountant in practice can sign it. We arrange and coordinate that for you.
Tax Audit Assistance near you
We provide this service to clients across Rohini and nearby localities: