Income Tax Audit under section 44AB

As per the Income-tax Act 1961, it is obligatory for the following persons carrying on business or profession to get his accounts audited on or before the September 30 by a Chartered Accountant:

  • If the total sales, turnover or gross receipts in business exceeds Rs. 100 lakhs (1 Crore) in any of the previous years; or
  • If the gross receipts in profession exceeds Rs. 25 lakhs in any of the previous years; or
  • If the assessee covered under the provision of section 44AD claims his profits to be lower than the profits deemed under presumptive basis and his income exceeds the basic exemption limit

Tax Audit report to be furnished in Prescribed Forms

Tax audit report is required to be furnished in the prescribed forms 3CA/ 3CB/ 3CD by September 30, which is certified by the Chartered Accountant.

We at Shubham Anand & Co., provide tax audit services as per section 44AB of Income Tax Act, 1961.

Our Tax Audit Services designed:

  • To ascertain/derive/report as per the requirements of Form Nos. 3CA/3CB and 3CD.
  • To ensure that the books of account and other records are properly maintained, that they truly reflect the income of the taxpayer and claims for deduction are correctly made by him.
  • To check on fraudulent practices
  • Each minute aspects and provisions of section 44AB, Form 3CA, 3CB & 3CD considered