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Complete Tax Audit Assistance at your Fingertips

Break the Barriers! Get Professional Aid & Hands-On Guidance on your Taxation Audits to Legally Save your Hard-earned Money

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Startup India

Online Legal India is now recognized by Department for Promotion of Industry and Internal Trade under Startup India.

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Online Legal India is a ISO certified body, assuring the quality professional services to aspiring startups.

Importance of Tax Audits in India

Transactions

Proper Maintenance of Transactions

Tax Audit requires the updated data of every day transactions and financial records that helps in effortlessly maintaining the financial affairs’ records

Tax Practices

Reduces Fraudulent Tax Practices

Through properly managed and calculated Tax Audits, the chances of facing any taxation frauds get reduced

Cash Flow

Appropriate Cash Flow Management

In the process of Auditing the Taxations, the concerned Individual or Business Venture can track the total income and financial claims from the marketplace in a proper manner

Time Saving

Time Saving

While conducting the Tax Audit in a proper manner, a business organization will make the process easier for the country’s taxation regulatory board and saves a lot of time by eliminating the administrative hassles

Legal Facilitation

Legal Facilitation

Income Tax Audits are the credentials that can be used to any Assessing Officials or the Regulating Authorities and getting the beneficial Govt. schemes

Notable Legal Compliances of Tax Audit

Section 44AB

Section 44AB states the General Regulations of the Tax Audit procedure

Who are liable to get the Tax Audit done -

  • An Individual conducting business with an annual turnover of upto 1 Crore and above
  • An Individual engaged in any profession and earning upto 50 Lakhs and above
  • An Individual who falls under the taxation scheme under Section 44AE but claims that lower Business Profit as per Section 44AE calculations
  • An Individual being qualified for the taxation schemes under Section 44AD but later claims a lower business profit than the presumptive taxation amount. It happens in cases where the income on record exceeds the ‘tax-free’ category amount

Different Forms of Tax Audit

  • Form 3CA & Form 3CD

    In case a Taxpayer chooses to get the Accounts Audited under any Prescribed Law other than Section 44AB, then the applicable form is the Form 3CA and the submitted details to be noted in the Form 3CD
  • Form 3CB & Form 3CD

    In case a Taxpayer conduct the Audit under the provisions of Section 44AB of the relevant Act, then the Form 3CB and other submitted details to be noted in the Form 3CD

Section 44AE

Relevant for the Business Ventures specialising in Hiring, Leasing, or Plying of Goods Carriages

Section 44AD

Applicable for any other Business Ventures mentioned under Section 44AE

Section 44BB

Applicable for Non-Resident Indians involved in business activities in the Minerals, Oil Industry

Section 44BBB

Applicable for International Organizations involved in any sort of Civil Construction Business, or Power Projects

Due Date for Conducting Tax Audit

Any Business Individual or Entity falls under Section 44AB required to to get their Accounts Audited and get the Audit Report on or before 30th September for the corresponding Financial Year

Penalties for Non-Compliance of Tax Audit

As per the Income Tax Act, 1961, the non-compliance of Tax Audit would lead to Penalty of whichever is lower form the followings -

  1. 0.5% of the total Sales amount or Annual Turnover or Gross Receipts
  2. Rs. 1,50,000

How we work?

1

Fill the Form and Make the Payment

2

Get a Call from our In-House CAs & Taxation Experts

3

Submit the Documents, and Records as Requested

4

The CAs will Analyze, and Begin with the Tax Audit Process

5

Following the Completion of the Tax Audit, we will get your Approval for the same

6

Finalised and Approved Tax Audit report will be submitted to the Income Tax Department

👍

Rajesh Kewat
Rajesh Kewat

Founder of Online Legal India

Zee News
Meet Rajesh Kewat, The Small Town Entrepreneur Behind Online Legal India's Success
TEDx
From Rs. 2000 Salary to Multi-Crore Turnover Company | Rajesh Kewat | TEDxPradhikaran.
Forbes
Mr. Rajesh Kewat getting featured in the special edition of Forbes India Magazine - Showstoppers 2022-23
Asia One
Rajesh Kewat, the MD of FastInfo Legal Services Pvt Ltd, owns a movie-like story; a man who lost everything for his love & attained great success within just 500 days with his innovative business.
Mid Day
Rajesh Kewat Conferred with Businessman of the Year Award at Brands Impact NFA 2022.

Past Experiences

Oxford Pearson Educamp

‘Kahin par pohochne ke liye, kahin se nikalna bohot zaroori hota hai’

- Yeh Jawani Hain Deewani

The Founder & MD of Online Legal India, Mr. Rajesh Kewat actually had the courage to sacrifice his well paid job at Oxford and turn his startup dream into a crore turnover company.
You don’t need MONEY to build your business empire, what you need is big dreams & a SHARP MIND! If you got it, try it.

- Rajesh Kewat

Why Us?

recognized

Recognized by Govt. of India

Happy Customers

1 Lakh+ Happy Clients Across India

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ISO Certified

Data Security

Data Security & Trust

Experts

Trained & Professional Experts

On Time

On Time Service

Quick

Super Fast Service

User OLI

Quick Response Team

Affordable

Affordable Than Other Professionals

Associated with

TATA
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Appreciated / Awarded by

Zee News
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Asia one

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FAQ

Can I submit the Audit Reports of multiple FYs at a single time?

No. As per the legal provisions of the Income Tax Act, 1961, the Tax Audit for any Financial Year is required to be filed within 30th September of the following assessment year.

Is it required to visit any Department or Govt. Offices for the Tax Audit process?

Is GST Audit falls under the Tax Audit provision?

Are the NRIs mandated to conduct the Tax Audit?