Income Tax Audit Services
Professional income tax audit services ensuring statutory compliance, risk mitigation, and comprehensive review by qualified chartered accountants.
Professional Tax Audit Services
Comprehensive income tax audit services to ensure compliance with statutory requirements, identify tax optimization opportunities, and provide assurance on financial reporting.
150+ Audits Completed
Successfully completed over 150 income tax audits across various industries.
Timely Completion
All audits completed within statutory timelines with comprehensive reporting.
100% Compliance
Ensuring complete compliance with income tax audit requirements and standards.
Our Audit Services
Comprehensive range of income tax audit services covering all aspects of tax compliance and assurance.
Statutory Tax Audit
Mandatory tax audit under Section 44AB for businesses with turnover exceeding prescribed limits.
Internal Tax Audit
Comprehensive internal audit to ensure tax compliance and identify potential issues.
Compliance Review
Detailed review of tax compliance including return filing, TDS, and advance tax payments.
Transaction Audit
Specific transaction audits for mergers, acquisitions, and complex business arrangements.
Financial Audit
Comprehensive financial audit with focus on tax implications and compliance requirements.
Audit Representation
Expert representation during departmental audits and investigation proceedings.
Types of Income Tax Audits
Different types of audits with their applicability thresholds and requirements.
Section 44AB Audit
₹1 Crore (Business), ₹50 Lakhs (Professional)Mandatory audit for businesses exceeding turnover/receipt thresholds
Requirements:
- Annual turnover exceeds ₹1 crore
- Professional receipts exceed ₹50 lakhs
- Presumptive taxation opt-out
- Cash receipts exceed ₹1 crore
Transfer Pricing Audit
₹1 Crore (International Transactions)Audit of international transactions and specified domestic transactions
Requirements:
- International transactions exceed ₹1 crore
- Specified domestic transactions
- Related party transactions
- Transfer pricing documentation
Company Audit
All CompaniesMandatory audit for all companies under Companies Act and Income Tax Act
Requirements:
- All private limited companies
- Public limited companies
- One Person Companies (OPC)
- Foreign companies
Trust/Society Audit
Variable ThresholdsAudit requirements for trusts, societies, and charitable organizations
Requirements:
- Income exceeds basic exemption
- Total receipts exceed ₹25 lakhs
- 12A/80G registration holders
- Foreign contribution recipients
Our Audit Process
Systematic and comprehensive audit process ensuring thorough examination and compliance verification.
Pre-Audit Planning
1-2 weeks- Understanding business operations
- Risk assessment and planning
- Document requirement list
- Audit timeline preparation
Field Work
2-4 weeks- Books of accounts examination
- Vouching and verification
- Internal control assessment
- Compliance testing
Report Preparation
1-2 weeks- Audit findings compilation
- Report drafting
- Management discussions
- Final report preparation
Filing & Compliance
1 week- Form 3CD preparation
- Audit report filing
- Compliance certificates
- Follow-up actions
Key Compliance Areas
Critical areas of focus during income tax audit to ensure comprehensive compliance review.
Book Maintenance
Proper maintenance of books of accounts as per Income Tax Act
Key Checkpoints:
- Cash book maintenance
- Ledger accounts properly written
- Supporting vouchers available
- Bank reconciliation updated
Expense Verification
Verification of business expenses and their genuineness
Key Checkpoints:
- Business purpose verification
- Supporting documents available
- TDS compliance on payments
- Disallowed expenses identification
Income Recognition
Proper recognition and reporting of all income sources
Key Checkpoints:
- Revenue recognition principles
- Undisclosed income identification
- Capital vs revenue classification
- Exempt income reporting
TDS Compliance
Tax deducted at source compliance and reconciliation
Key Checkpoints:
- TDS applicability check
- Correct TDS rates applied
- Timely deposit and filing
- Form 16A issuance
Benefits of Our Audit Services
Value-added benefits from our professional income tax audit services.
Need Professional Income Tax Audit?
Get expert income tax audit services ensuring compliance and risk mitigation.