What's included
- Form 3CD
- Audit reports
- CA certificates
Who needs it
- Businesses whose turnover crosses the tax audit limit
- Professionals whose receipts cross the prescribed limit
- All private and public limited companies
- LLPs above the audit thresholds, and entities needing CA certificates
Documents required
- Finalised books of accounts
- Bank statements and loan documents
- Fixed asset register
- GST and TDS returns for the year
- Last year's audit report
How it works
- Readiness reviewCheck books, reconciliations and pending entries.
- Audit fieldworkVouching, verification and queries.
- ReportingAudit report and financial statements, including the tax audit report.
- FilingUpload of audit reports and related returns before the due date.
Timeline: Plan at least a month before the due date.
Frequently asked questions
When is a tax audit required?
When business turnover exceeds ₹1 crore (₹10 crore if cash transactions are within 5%), when professional receipts exceed ₹50 lakh, and in some cases where presumptive income is declared below the prescribed rate. Confirm the limits for your year with us.
What is the due date for the tax audit report?
Usually 30 September after the end of the financial year, unless extended.
Does a small private limited company need an audit?
Yes. Every company must have its accounts audited by a chartered accountant, whatever its size or turnover.