Tax Audit
Ensure Full Compliance & Avoid Penalties
A Tax Audit under Section 44AB of the Income Tax Act is mandatory for certain individuals and businesses based on their turnover or type of income. At Tax Wheel Associates, we offer expert and compliant tax audit services tailored to your business type and financial structure.
What is a Tax Audit?
A Tax Audit is a review of your books of accounts and related records by a certified professional to ensure they comply with the Income Tax Act. It also involves submitting Form 3CA/3CB and 3CD electronically to the Income Tax Department.
Who Needs a Tax Audit?
Businesses with turnover over ₹1 crore (₹10 crores if cash transactions ≤ 5%)
Professionals with gross receipts over ₹50 lakhs
Presumptive Income Scheme (44AD, 44ADA) users declaring lower than presumptive income
Cases where audit is mandatory under other laws (like Companies Act, etc.)
