Income Tax Audits

There are various kinds of audit being conducted under different laws such as company audit/statutory audit  conducted under company law provisions, cost audit, stock audit etc. Similarly, Income tax law also mandates an audit called ‘Tax Audit’. As the name itself suggests, Tax audit is an examination/review of accounts of any business /profession carried out by the taxpayer from an income tax viewpoint. A Tax audit makes the process of income computation for filing of  return of income, much easier.


*This package covers only one Tax Return

Package Details

Tax auditor shall furnish tax audit report online by using his login details in the capacity of ‘chartered accountant’. Taxpayer shall also add CA details in their login portal. Once audit report is uploaded by tax auditor, same should either be accepted/rejected by taxpayer in their login portal. If rejected for any reason, all the procedures need to be followed again till the audit report is accepted by the taxpayer.

Tax audit report shall be filed on or before the due date of filing the return of income i.e., 30 November of the subsequent year in case taxpayer has entered into an international transaction and 30 September of the subsequent year in case of other taxpayers.

Who is mandatorily subject to tax audit?

Following categories of taxpayers are required to get tax audit done:

Category of person

Threshold

Carrying on business (not opting for presumptive taxation scheme*) Total sales, turnover or gross receipts exceed Rs 1 crore
Carrying on business (opting presumptive taxation scheme under section 44AD Declares taxable income below the limits prescribed under the presumptive tax scheme and has income exceeding the basic threshold limit
Carrying on profession Gross receipts exceed Rs 50 lakhs
   
Carrying on the profession eligible for presumptive taxation under Section 44ADA Claims profits or gains lower than the prescribed limit under presumptive taxation scheme and income exceeds maximum amount not chargeable to tax
Carrying on the business and is not eligible to claim presumptive taxation under Section 44AD due to opting for presumptive taxation in one tax year and not opting for presumptive tax for any of the the subsequent 5 consecutive years If income exceeds maximum amount not chargeable to tax in the subsequent 5 consecutive tax years from the tax year where presumptive taxation is not opted for

Our Process

  • Sign Up on Haxtax.com.
  • Send your Documents 
  • Document submission .
  • Documents varification.
  • Relax and seet back ,we will follow up with you .
  • Do not forget giving your feedback 

Documents Needed

  • PAN and Aadhar card copy
  • Bank Statement for the respective financial year
  • Income tax audit report of privious year

For Enquiries

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Call : 7505111555