Income Tax Audit
At AMG Associates, we provide comprehensive Income Tax Audit Services in Ahmedabad, helping businesses and professionals meet their mandatory tax audit requirements under Section 44AB of the Income Tax Act. Our team of Chartered Accountants and tax experts ensures your tax audit is completed accurately, on time, and in full compliance with regulatory requirements.
What is a Tax Audit? (Section 44AB)
A tax audit is a mandatory examination of a taxpayer’s financial records to verify:
✔ Accuracy of income tax returns filed
✔ Compliance with accounting standards
✔ Proper maintenance of books of accounts
✔ Eligibility for deductions and exemptions
Who Needs Income Tax Audit in Ahmedabad?
Mandatory Audit Requirements
Businesses with turnover > ₹1 crore (₹10 crore if 95% digital transactions)
Professionals with gross receipts > ₹50 lakh
Businesses opting for presumptive taxation but declaring lower profits
Cases where audit is specifically required under other sections
Our Tax Audit Clientele
Manufacturers and traders
Professionals (Doctors, CAs, Architects)
Startups and SMEs
E-commerce businesses
Partnership firms and LLPs
Our Complete Tax Audit Services
1. Full-Scope Tax Audit
Examination of financial statements
Verification of accounting records
Compliance checking with tax laws
Preparation of audit reports (Form 3CA/3CB & 3CD)
2. Specialized Audit Services
Startup tax audit compliance
International transaction audits
Capital gains verification
Related party transaction audits
3. Tax Audit Representation
Handling income tax department queries
Responding to audit notices
Representing before tax authorities
Tax Audit Process at AMG Associates
Initial Assessment
Understand your business operations
Identify potential audit risk areas
Document Collection
Financial statements
Bank statements and ledgers
Invoices and expense vouchers
Previous tax returns
Detailed Examination
Verification of income sources
Scrutiny of deductions and exemptions
Reconciliation of books with tax returns
Report Preparation
Drafting Form 3CA/3CB (Auditor’s report)
Preparing Form 3CD (Detailed particulars)
Finalizing audit findings
Filing & Compliance
Submission to income tax department
Handling post-filing requirements
Key Benefits of Our Tax Audit Services
✔ Avoid penalties (0.5% of turnover or ₹1,50,000)
✔ Identify tax savings opportunities
✔ Improve financial reporting systems
✔ Prepare for future funding/investments
✔ Maintain good compliance record
Tax Audit Documents Checklist
Financial Documents
Balance Sheet and P&L Statement
Bank statements for all accounts
Cash book and ledger copies
Business Records
Sales and purchase registers
Stock inventory records
Asset purchase/sale documents
Tax Documents
GST returns and reconciliations
TDS/TCS returns and certificates
Previous years’ tax audit reports
Common Tax Audit Issues We Resolve
✅ Discrepancies between books and tax returns
✅ Unreconciled cash transactions
✅ Improper expense documentation
✅ Incorrect depreciation claims
✅ Related party transaction reporting
Frequently Asked Questions
Q: What is the due date for tax audit filing?
A: September 30th (extended to October 31st in some years)
Q: Can tax audit be done without CA?
A: No, only practicing Chartered Accountants can conduct tax audits
Q: What if I miss the tax audit deadline?
A: Penalty of 0.5% of turnover or ₹1,50,000 (whichever is lower) applies
Q: Is digital signature mandatory for tax audit?
A: Yes, all tax audit reports require CA’s digital signature
Q: Can tax audit reduce my tax liability?
A: Proper audit often identifies legitimate deductions to optimize taxes
Get Expert Tax Audit Assistance Today!
Ensure full compliance and avoid penalties with our professional Income Tax Audit Services in Ahmedabad.
📞 Call Now: +91 8320184186
