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Tax Audit in Rewa – As per Section 44AB
If you're a business owner, freelancer, or professional in Rewa earning above the specified threshold, a tax audit under Section 44AB of the Income Tax Act may be mandatory for you. At Smart Tax Idea, we provide expert assistance for tax audits—ensuring complete compliance and zero penalties.
Why Choose Our Audit & Assurance Services?
According to Section 44AB, you are required to get your accounts audited if:
- Your business turnover exceeds ₹1 crore (₹10 crore if cash transactions are under 5%).
- Your professional income exceeds ₹50 lakhs.
- You are declaring income under presumptive taxation (Sections 44AD, 44ADA, 44AE) but your income is lower than the presumptive rate and exceeds the basic exemption limit.
- You're a freelancer or consultant with high receipts and need to file accurate ITR.
What Are The objectives of Tax Audits:
Objectives of Tax Audit (Section 44AB)
1
Ensure Accuracy of Income Reporting
To verify that the income, deductions, and claims made in the ITR are accurate and based on proper books of accounts.
2
Prevent Tax Evasion
Helps the income tax department detect and prevent fraud or tax evasion by checking the correctness of financial data.
3
Facilitate Tax Administration
Audited financial statements make it easier for tax authorities to assess tax liability, reducing the chances of disputes and scrutiny.
4
Ensure Compliance with Laws
Ensures that taxpayers follow the accounting standards, tax laws, and other statutory provisions correctly.
5
Encourage Proper Maintenance of Accounts
Motivates businesses and professionals to maintain complete and accurate books of accounts regularly.
6
Ease of Cross-Verification
Helps in cross-checking financial records with GST returns, TDS filings, and other regulatory reports.
7
Increase Credibility
A tax audit report adds credibility to financial statements, which can be useful for securing loans, attracting investors, or during tenders and contracts.
Tax Compliance
Understanding Tax Audit Reports
A Tax Audit Report under Section 44AB is a formal document prepared by Chartered Accountants after examining financial records. It's filed electronically with detailed financial disclosures.
Our expert team ensures your audit complies with all regulatory requirements while maximizing your benefits.
Audit Forms
- Form 3CA - For businesses already under statutory audit
- Form 3CB - For individuals, freelancers & sole proprietors
Form 3CD Components
Business Nature
Accounting Method
Cash Transactions
TDS Compliance
Related Parties
GST Details
Financial Results
Disallowances
Audit Requirements
- Books of accounts
- Bank statements
- Invoices & vouchers
- TDS/GST returns
- Depreciation schedules
- Loan details
Non-Compliance Penalty
Failure to comply with Section 44AB can result in a penalty of 0.5% of turnover, up to a maximum of ₹1,50,000. Avoid penalties by getting your tax audit done on time by experienced professionals in Rewa.
Why Choose Smart Tax Idea for Tax Audit in Rewa?
Experienced Chartered Accountants
Timely and error-free audit reports
Personalized support for businesses, professionals &
freelancers
Expert help with ITR filing post-audit
Trusted by clients across Rewa, Satna & surrounding regions
Need Tax Audit Help in Rewa?
If you're unsure whether a tax audit applies to you, contact us today for a free consultation.
Visit us at our Rewa office
Call/WhatsApp: [ 9340997450 ]
Email: [smarttaxidea@gmail.com]
Tax Audit Services in Rewa – Section 44AB Experts
Smart Tax Idea offers expert-led Tax Audit Services in Rewa under Section 44AB of the Income Tax Act, ensuring your business stays compliant, audit-ready, and penalty-free.
Our qualified Chartered Accountants specialize in business tax audits, income tax audit services, and online tax audit filing for MSMEs, professionals, startups, and NGOs.
✅ Avoid Penalties – Get Your Tax Audit Done Before Deadline
A tax audit under Section 44AB is mandatory if your business or professional income exceeds the prescribed turnover limits. Don’t risk heavy penalties or non-compliance.
Who Needs a Tax Audit in India?
Mandatory Requirements under Section 44AB
Eligibility Criteria
- Businesses with turnover exceeding ₹1 crore (or ₹10 crore if cash transactions < 5%)
- Professionals (e.g., doctors, consultants, freelancers) earning more than ₹50 lakh
- Businesses opting out of presumptive taxation scheme (44AD/44ADA)
- Companies, LLPs, Trusts & NGOs subject to audit under other laws
We Serve
- Wholesalers & Retailers
- Consultants & Doctors
- Manufacturers & Traders
- E-commerce Sellers
- NGOs and Educational Trusts
What is Covered in Our Tax Audit Services?
Comprehensive Support for Section 44AB Compliance
Audit Process
Complete audit under Section 44AB (a to e)
Form Filing
Preparation and filing of Form 3CA/3CB & 3CD
Verification
Verification of books of accounts, ledgers, GST, and bank statements
Report Submission
Detailed audit report submission on the income tax portal
CA Support
Dedicated CA support for queries and notices
What is the Turnover Limit for Tax Audit?
Understand the Thresholds for Compliance
- ₹1 crore: General business turnover limit
- ₹10 crore: If cash receipts/payments < 5%
- ₹50 lakh: For professionals (e.g., doctors, architects, lawyers)
- Audit applicability triggered if taxpayer declares lower income than presumptive scheme minimum
Why Smart Tax Idea?
Partner with Rewa’s Trusted CA Firm
- Expert Chartered Accountants in Rewa, MP
- 100% online tax audit services for pan-India clients
- Transparent process & real-time communication
- On-time filing to avoid late penalties
- Trusted by 100+ businesses across Rewa, Satna, and Jabalpur
Ready to File Your Tax Audit?
Avoid penalties with Rewa’s expert CAs today!
Frequently Asked Questions (FAQs)
Answers to Common Tax Audit Queries
A tax audit is an examination of your financial books by a Chartered Accountant to ensure accuracy and compliance with income tax laws.
Businesses with turnover > ₹1 crore, professionals earning > ₹50 lakh, or any taxpayer opting out of presumptive taxation scheme.
It is 30th September every year for the preceding financial year.
You may face a penalty of 0.5% of turnover or ₹1.5 lakh, whichever is lower.
Yes, Smart Tax Idea offers 100% digital services. Upload your documents securely and our CA will handle everything.
Ready to File Your Tax Audit?
Avoid Penalties – File with Rewa’s Expert CAs Today