Tax Audit

Tax Audit

A tax audit is applicable when:

• Business turnover exceeds 1 crore (10 crore if cash transactions are within 5% of total receipts and payments).
• Professional receipts exceed 50 lakh.
• Presumptive taxation cases (44AD/44ADA/44AE) where income is declared below the prescribed limit and total income exceeds the basic exemption limit.

Our Service Offerings Include:

• Conducting Tax Audits under Section 44AB for eligible businesses and professionals.
• Verification of books of accounts and financial statements for accuracy and compliance.
• Preparation and certification of Form 3CA/3CB and Form 3CD.
• Review of depreciation, deductions, and disallowances to ensure correct income computation.
• Identification of tax risks and internal control gaps, with recommendations for improvement.
• Guidance on presumptive taxation compliance under Sections 44AD, 44ADA, and 44AE.

At Tax Monks, we ensure every tax audit is conducted with integrity, precision, and transparency, helping clients stay compliant while strengthening their financial systems.