Tax Audit

This audit is required under section 44AB of Income Tax Act. This audit includes reporting in prescribed form 3CA & Annexure in form 3CD.

The scope includes Verification of

  • Details of nature of business
  • Method of accounting
  • Books of account maintained
  • Modvat credit availed
  • Payment of cash in excess of Rs. 20,000/-
  • Proper deduction of TDS & payment of TDS in time
  • Dividend Distribution
  • Acceptance & Repayment of Loan
  • Payment of penalty
  • Payment to related parties
  • Prior period expenses
  • Disallowance u/s 14A etc.

On the basis of this report, the assessing officer takes Decision for tax assessment. The appointment of tax auditor is made by the management.