Compliant. Accurate. Hassle-Free.
A Tax Audit under the Income Tax Act is more than just a compliance requirement — it is a crucial check on the accuracy of your business’s financial and tax reporting. At Korpfintax, our team of Chartered Accountants ensures your Tax Audit is conducted meticulously, minimizing the risk of scrutiny, penalties, and future tax litigation.

What is a Tax Audit?
A Tax Audit is an examination and reporting of accounts of a business or profession by a Chartered Accountant, as per Section 44AB of the Income Tax Act, 1961. The purpose is to ensure that income and deductions claimed are correctly reported, and that tax laws are properly complied with.
The auditor files a Tax Audit Report in Form 3CA/3CB along with Form 3CD on the income tax portal.

Applicability of Tax Audit (AY 2024-25 Onwards)
A tax audit is applicable in the following cases:

For Businesses
Turnover exceeds ₹1 crore, OR
If Turnover exceeds ₹10 crore, and cash receipts/payments exceed 5% of total receipts/payments, tax audit is mandatory.

For Professionals
If Gross receipts exceed ₹50 lakh in a financial year.
Presumptive Taxation Cases (Sections 44AD, 44ADA, 44AE)
If income is claimed lower than the deemed income, and total income exceeds the basic exemption limit.

Our Tax Audit Services Include:

Verification of books of account, ledgers, and financials
Computation of taxable income under different heads
Checking depreciation, TDS compliance, loans & advances
Filing of Form 3CA/3CB & Form 3CD on the Income Tax Portal
Detection and reporting of non-compliances
Advisory on disclosures, tax savings, and compliance measures

Benefits of Tax Audit

Ensures legal compliance under Section 44AB
Avoids penalties for late or incorrect filing
Brings transparency in books of accounts
Reduces chances of scrutiny by tax authorities
Facilitates accurate tax planning and savings

Why Choose Korpfintax?

Expert Chartered Accountants with years of experience
Timely filing with proper documentation
Focused on accuracy, efficiency, and compliance
Strict confidentiality and ethical standards
Serving clients across trading, manufacturing, IT, healthcare, and service sectors