Tax Audit

Tax audit is conducted by qualified Chartered Accountants under Section 44AB of Income Tax Act and various provisions of GST Act. It provides independent verification of financial records and tax compliance.

Why Choose Professional Tax Audit in Nashik?

Professional tax audit ensures compliance with tax laws, identifies potential issues, provides credibility to financial statements, and helps in optimal tax planning and risk management.

Types of Tax Audits

• Income Tax Audit (Section 44AB)
• GST Annual Audit
• Internal Audit
• Concurrent Audit
• Special Audit (by IT Department)
• Transfer Pricing Audit

Tax Audit Fees in Nashik

Professional tax audit fees range from Rs. 15,000 to Rs. 75,000 depending on business complexity, turnover, and scope of audit. Small business audits cost Rs. 15,000-25,000, while large business audits cost Rs. 50,000-75,000.

Documents Required for Tax Audit

• Complete Books of Accounts
• Bank Statements and Cash Books
• Purchase and Sales Registers
• Fixed Assets Register
• Income Tax Returns and Computations
• GST Returns and Records

Tax Audit Process

The tax audit process involves 6 comprehensive steps:

Who Requires Tax Audit in Nashik?

• Businesses with Turnover > Rs. 1 Crore
• Professional Income > Rs. 50 Lakhs
• Companies and LLPs
• Partnership Firms
• Individuals with Business Income
• Entities claiming Presumptive Taxation
• Businesses under GST Audit Requirement
• Export-Import Businesses
• Manufacturing Companies
• Service Providers with High Turnover

Conclusion

Tax Audit in Nashik is essential for ensuring compliance with tax regulations and maintaining financial credibility. Professional audit services provide comprehensive review and certification, helping businesses meet statutory requirements.