Tax audit is an independent review of books of accounts of an entity by auditors required under the Income Tax Act, 1961.
Tax auditing and filing tax return on time with transparency and clear records is an important task for any assessee which is subjected to audit. To achieve this, one needs an independent tax auditor to carry out the task. Harsh Rajani & Co is your best option and trusted confidante when it comes to us, our team of experienced and dedicated auditors will provide value-added services to your accounts. We truly understand the sensitivity and importance of tax for the companies and other assessee, and we make sure we keep top-level of ethical standards and top-notch quality in our services.
Our team of auditors at Harsh Rajani & Co is in this profession for decades, and they have undertaken tax audits for several companies, whether small, medium, or large.
Section 44AB of the Income Tax Act 1961 requires that if the annual gross turnover or receipt of the company exceeds a specified limit, then it must get its accounts audited by a chartered accountant. The chartered accountant provides his findings and observations in his tax audit report in Form numbers 3CA/3CB and 3CD.
A tax audit differs from a statutory audit on many grounds. A statutory audit is conducted to make sure proper reliability, transparency, fairness, and precision are maintained in the financial statements of the company. On the other hand, a tax audit is done for proper maintenance of books and to ensure that true data is reflected in the taxable income and deductions made by the assessee.
