ax Audit Report is a report that is required to be filed by certain taxpayers in India as per the provisions of the Income Tax Act, 1961. Tax audit is the examination of a taxpayer’s tax return and other relevant financial information in order to ensure that the tax liability is calculated and paid correctly. Tax audit helps in reducing tax evasion and increasing the tax base.

Tax Audit is mandatory for certain taxpayers whose turnover exceeds a certain limit or those who carry out a profession that comes under the purview of Section 44AD, 44ADA, or 44AE of the Income Tax Act, 1961. The due date for filing the Tax Audit Report is 30th September of the assessment year.

The Tax Audit Report is to be prepared by a Chartered Accountant and contains various details about the taxpayer, such as the name, PAN, address, nature of business, etc. The report also includes details about the taxpayer’s books of accounts, such as the method of accounting, compliance with accounting standards, etc. In addition to this, the Tax Audit Report also contains details about various tax-related transactions, such as depreciation, tax deductions, tax exemptions, etc.

The Tax Audit Report is required to be filed in Form No. 3CA and Form No. 3CB. Form No. 3CA is to be filed by taxpayers who are required to get their accounts audited under any other law, while Form No. 3CB is to be filed by taxpayers who are not required to get their accounts audited under any other law.

In addition to the Tax Audit Report, the taxpayer is also required to file Form No. 3CD, which contains a statement of particulars required to be furnished under section 44AB of the Income Tax Act, 1961. Form No. 3CD contains details about various tax-related transactions, such as depreciation, tax deductions, tax exemptions, etc.

Manisha Mohol and Associates provides Tax Audit services to its clients in accordance with the provisions of the Income Tax Act, 1961. The firm helps its clients in preparing the Tax Audit Report and filing it in the correct format within the due date.