Businesses and professionals whose turnover or receipts exceed the prescribed limits are required to get their accounts audited under Section 44AB.
Our process
- Assessment of applicability for the year
- Examination of books of account, vouchers and supporting documents
- Verification of clause-wise particulars required in Form 3CD
- Discussion of observations with the assessee
- Issue of report in Form 3CA or 3CB with Form 3CD and online upload
The audit is carried out independently and in accordance with the Guidance Note issued by ICAI.
At a glance
- Applicability assessment
- Examination of books and records
- Form 3CA / 3CB and 3CD reporting
- Clause-wise documentation
- Online upload of the report
Documents generally required
- 1Books of account and trial balance for the year
- 2Bank statements and loan statements
- 3Stock records and the year-end stock statement
- 4GST returns and TDS returns filed for the year
- 5Register of fixed assets with invoices for additions
- 6Details of loans and deposits accepted or repaid
- 7Details of payments to related persons
- 8Previous year's tax audit report and income tax return
This is a general list. The documents actually needed depend on the facts of each case and will be confirmed when the work is taken up. Please do not send documents through this website.
Frequently asked questions
Who is required to get accounts audited under the income tax law?
Audit is required when turnover or gross receipts exceed the limits prescribed in the law, and in certain cases where income is declared below the presumptive rates. Applicability is assessed on the facts of each case for the relevant year.
When should the work begin?
The audit report is to be furnished by the date specified in the law. Beginning soon after the close of the year, once the books are finalised, leaves time to resolve queries before that date.
These answers are general information, not professional advice. The position in a particular case depends on its facts and the law in force.