Income Tax Audit
What is tax audit?
The provisions for an Income Tax audit are covered under section 44AB of the Income Tax Act of 1961. The Income Tax audit is an examination of an individual’s or organisation’s tax returns by any outside agency to verify that all the income, expenditure and deduction information are filed correctly. Tax audits have been made mandatory by the Income Tax Act that states that all taxpayers are required to get the accounts of their business or organisation audited according to the provision of the act.
Under section 44AB, the audit aims to ascertain the factual veracity of returns filed and the accomplishment of other requirements as per applicable rules. The Chartered Accountant performing the tax audit has to submit all his/her findings and observations in the form of an audit report. The audit report is given as per format available in the form numbers 3CA/3CB and 3CD.
Section 44AB
Section 44AB gives the provisions concerned to the class of taxpayers who are required to get their accounts audited from a chartered accountant.
Tax
- Income Tax
- Income Tax Return (ITR)
- Income Tax Login
- E-Tax
- Capital Gains Tax
- Direct Tax
- Excise Duty
- Advance Tax
- Custom Duty
- Self Assessment Tax
- Corporate Tax
- Income Tax Limit
- Income Tax Audit
- Income Tax Deductions
- Withholding Tax
- Income Tax Return Last Date
- How To Save Income Tax
- Income Tax Scrutiny
- Income Tax Penalty
- Income Tax On Savings Bank Interest
- Income Tax For Pensioners
- Income Tax For Senior Citizens
- Income Tax Refund
- Income Tax Refund Status
- Income Tax Return Forms
- Income Tax Documents
- Income Tax For Self Employed
- Income Certificate
About TDS
ITR Forms
Tax Forms
Sections Income Tax Act
- Section 80C
- Section 80GG
- Section 80DDB
- Section 80E
- Section 80TTA
- Section 80CCD
- Section 80D
- Section 80U
- Section 194A
- Section 194H
- Section 194I
- Section 115BAC
- Section 154 of Income Tax Act
- Section 44ad of Income Tax Act
- Section 80G of Income Tax Act
- Section 139 of Income Tax Act
- Section 24 of Income Tax Act