Tax Audit Services in Tirupati
Professional Tax Audit and Compliance Support
CARVI AND ASSOCIATES, Chartered Accountants in Tirupati, provides professional tax audit services for eligible businesses, professionals, firms and other taxpayers. We assist with reviewing financial records, assessing applicable tax audit requirements and supporting accurate reporting and timely compliance under the Income-tax Act.
A tax audit helps examine relevant books of account and financial information to identify reporting requirements and verify the particulars required for tax audit reporting. The applicability of a tax audit depends on the nature of the business or profession, turnover or gross receipts, the relevant statutory conditions and, where applicable, presumptive taxation provisions.
Our Tax Audit Services
Our tax audit assistance may include:
Tax audit applicability review: Assessing whether a tax audit may be required based on the facts and applicable provisions.
Books of account review: Reviewing relevant accounting records, financial statements and supporting documents.
Form 3CA, Form 3CB and Form 3CD assistance: Supporting the preparation and review of applicable tax audit reports and particulars.
Tax-related reporting review: Examining relevant expenses, deductions, tax particulars and disclosures.
Compliance and e-filing support: Assisting with the applicable tax audit reporting and filing process.
Discrepancy identification: Highlighting inconsistencies or missing information that may require clarification before reporting.
The exact scope of work depends on the taxpayer’s circumstances and the applicable legal requirements.
Who May Need Tax Audit Assistance?
Our services may be relevant to:
Businesses and traders
Professionals and consultants
Partnership firms and other eligible entities
Businesses evaluating the conditions for presumptive taxation
Taxpayers who need to determine their tax audit reporting obligations
Tax Audit Turnover Limits
The general tax audit thresholds commonly considered under Section 44AB include:
Businesses: A general turnover threshold of ₹1 crore, subject to applicable provisions.
Eligible businesses: A higher threshold of ₹10 crore may apply where both cash receipts and cash payments do not exceed the prescribed 5% limits.
Professionals: A general gross-receipts threshold of ₹50 lakh, subject to applicable provisions.
These thresholds are not the only factors in determining tax audit applicability. Presumptive taxation provisions and other conditions may also affect the requirement. The applicable law and facts should be reviewed before reaching a conclusion.
For a detailed explanation, read our article: Tax Audit Turnover Limit for FY 2025-26: ₹1 Crore, ₹10 Crore & ₹50 Lakh Explained
Our Tax Audit Process
Initial assessment: Understand the nature of your business or profession and identify the relevant reporting period.
Document collection: Obtain the books of account, financial statements and supporting records required for review.
Applicability review: Assess the relevant tax audit provisions and reporting requirements.
Financial review: Examine relevant accounting information, tax particulars and supporting documents.
Reporting and filing: Assist with the applicable tax audit report and e-filing process, subject to the agreed scope of work.
Documents Generally Required
Depending on the nature of the case, the documents may include:
Trial balance, ledger accounts and books of account
Financial statements and bank statements
Sales, purchase and expense records
GST returns and relevant reconciliations
TDS details and other tax records
Details of loans, fixed assets and depreciation
Prior-year tax audit reports and income-tax returns, where relevant
Other supporting information required for the engagement
The final document list will depend on the taxpayer’s circumstances.
Why Choose CARVI AND ASSOCIATES?
We follow a structured and compliance-focused approach to reviewing financial records and supporting tax audit reporting. Our focus is on clear communication, careful examination of relevant information and helping clients understand their compliance responsibilities.
We serve businesses and professionals seeking Chartered Accountant assistance in Tirupati and the surrounding areas.
Frequently Asked Questions
Is tax audit mandatory when turnover exceeds ₹1 crore?
A tax audit may be required depending on the applicable provisions and the facts of the case. Eligible businesses may qualify for the higher ₹10 crore threshold when the prescribed cash receipt and payment conditions are satisfied. Other provisions may also affect applicability.
What is the tax audit limit for professionals?
The general threshold is ₹50 lakh in gross receipts, subject to applicable provisions and the taxpayer’s circumstances.
What are Forms 3CA, 3CB and 3CD?
Form 3CA or Form 3CB is used for the relevant audit report, depending on whether the accounts are required to be audited under another law. Form 3CD contains the prescribed particulars for tax audit reporting, where applicable.
Can you help determine whether my business requires a tax audit?
Yes. We can review the relevant business details, turnover or gross receipts and applicable statutory conditions to help assess the requirement.
Contact CARVI AND ASSOCIATES
If you need assistance with tax audit applicability, reporting or compliance, contact CARVI AND ASSOCIATES, Chartered Accountants in Tirupati.
Phone: +91 9505969799
Email: info@carviassociates.com
Office: 23-2-168/4C, 2nd Floor, Prashanti Plaza, New Balaji Colony, Near SDHR College, Tirupati, Andhra Pradesh – 517502.
