Tax Audit in Guwahati

A tax audit is a Chartered Accountant’s examination of the books of a business or profession whose turnover crosses the limits in section 44AB, reported in Form 3CD. GBA conducts the audit, prepares the clauses and files the report on the portal.

Who it is for

Who needs this?

Businesses with turnover above the section 44AB threshold in the financial year
Professionals with gross receipts above the professional threshold
Taxpayers opting out of presumptive taxation who declare lower profit than the deemed rate
Clients whose auditor needs to be appointed early enough to meet 30 September

The work

What does GBA do?

Confirm whether the audit applies, including the cash-receipt and payment tests
Verify books, vouchers, TDS compliance, GST reconciliation and related-party disclosures
Prepare all clauses of Form 3CD with working papers
File Form 3CA or 3CB with 3CD and coordinate the return so both go in on time

What to bring

Books of account and bank statements for the year
GST returns and TDS returns filed
Fixed asset register and loan statements

Questions

Questions about this service

Direct answers about tax audit from GBA, Guwahati.

What is the due date for a tax audit report?

The tax audit report is normally due by 30 September following the financial year, and the related return by 31 October. Both dates are occasionally extended by the CBDT.

What happens if a tax audit is not done?

A penalty under section 271B of 0.5 percent of turnover, up to Rs 1,50,000, can be levied unless there is reasonable cause. The return is also treated as defective in some cases.

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