Mandatory Tax Audit Services in Ahmedabad under Section 44AB | A M Global
Tax Audit Services in Ahmedabad provided by A M Global are designed to ensure seamless compliance for businesses and professionals falling under the mandatory purview of Section 44AB of the Income Tax Act, 1961. A Tax Audit is a comprehensive examination of your business’s financial records to verify compliance with the various provisions of the Income Tax law before the final Income Tax Return (ITR) is filed.
For taxpayers in Ahmedabad, Gujarat, missing the audit deadline or submitting an inaccurate report can result in a significant penalty—the lower of 0.5% of turnover or ₹1,50,000. Our experienced Chartered Accountants (CAs) offer meticulous service, ensuring your audit is completed accurately, timely, and with maximum disclosure and minimal scrutiny.
Who Needs Mandatory Tax Audit Services in Ahmedabad?
Understanding the specific applicability of Section 44AB is the first critical step. A M Global helps you determine if your business or profession meets the mandatory audit criteria:
| Category of Taxpayer | Threshold/Condition for Mandatory Audit |
| Business | Turnover exceeds ₹1 Crore (The limit is extended to ₹10 Crore if cash transactions are $\le$ 5%). |
| Profession | Gross receipts exceed ₹50 Lakhs. |
| Presumptive Scheme (44AD/ADA) | Declares income lower than the prescribed rate and total income exceeds the basic exemption limit. |
By utilizing specialized Tax Audit Services in Ahmedabad, you ensure that your financial statements and disclosures are legally sound and prepared according to the requirements of the Income Tax Department.
The Critical Process of Tax Audit and Reporting
The tax audit is conducted and reported through specific forms that require detailed technical compliance:
1. Filing of Form 3CA/3CB and Form 3CD
The audit process culminates in the electronic filing of the audit report, which must be uploaded by a practicing Chartered Accountant:
Form 3CB: The primary audit report format used when the accounts are not required to be audited under any other law (like the Companies Act).
Form 3CA: The primary audit report used when the accounts are already audited under any other law.
Form 3CD: This is the detailed ‘Statement of Particulars’ annexed to Form 3CA or 3CB. It contains 44 clauses requiring specific disclosures related to business structure, accounting methods, adherence to various tax provisions (like TDS/TCS, disallowances), and reconciliation with GST data Tax Audit Services in Ahmedabad.
Key Benefits of Choosing A M Global for Your Tax Audit in Ahmedabad
A Tax Audit is much more than a compliance formality; it’s a vital health check for your business, providing credibility and reducing legal risk.
Risk Mitigation: Our meticulous review helps identify and rectify discrepancies, disallowed expenses (e.g., non-compliance with Section 40A(3) for cash payments), and errors before they are flagged by the Income Tax Department Tax Audit Services in Ahmedabad .
Increased Credibility: An independent audit report enhances your business’s credibility when dealing with banks for loans, applying for tenders, or attracting investors in Ahmedabad.
Timely Compliance: We manage the entire process to ensure the Tax Audit Report is filed by the statutory due date (typically September 30th, often extended to October 31st/November 30th), which is critical for the subsequent ITR filing.
We work in close coordination with your accounts team to verify every aspect, from sales and purchase registers to inventory records. For complete details on the legal implications of non-compliance, you can refer to the official site of the Income Tax Department, India.
We also offer integrated GST Reconciliation Services to ensure your turnover reported in the Tax Audit aligns perfectly with your GSTR-3B and GSTR-1 filings, preventing scrutiny.
Frequently Asked Questions (FAQs) about Tax Audit Services in Ahmedabad
1. What is the penalty for not getting a Tax Audit done?
The penalty for failure to get a Tax Audit conducted or to furnish the report on time is the lower of 0.5% of the total sales/turnover or ₹1,50,000, as per Section 271B.
2. Does a professional (like a doctor or architect) need a Tax Audit in Ahmedabad?
Yes. If the gross receipts from the profession exceed ₹50 Lakhs in the financial year, a tax audit under Section 44AB is mandatory Tax Audit Services in Ahmedabad.
3. What is the UDIN requirement for a Tax Audit Report?
UDIN (Unique Document Identification Number) is a mandatory 18-digit number generated by the CA Institute for every Tax Audit Report. Our CAs ensure the report is validly certified and filed with the mandatory UDIN.
4. Can a CA who maintains my books also conduct the Tax Audit?
No. A Chartered Accountant who has prepared or written the books of accounts for the business cannot be appointed as the tax auditor for the same business, as this compromises auditor independence. Our firm ensures independent and professional Tax Audit Services in Ahmedabad.