Tax Audit
Ensure Income Tax Compliance. Avoid Penalties. Maintain Financial Transparency.
A Tax Audit is a mandatory audit of accounts conducted to ensure that taxpayers comply with provisions of the Income Tax Act. It verifies income, deductions, and tax payments to ensure accuracy and transparency.
OS Management Consulting Services (OSMCS) provides expert Tax Audit services for businesses, professionals, firms, and companies across India.
Who is Required to Conduct Tax Audit?
Tax Audit is mandatory for:
Businesses
-
If turnover exceeds prescribed limits (as per current Income Tax provisions)
Professionals
-
If gross receipts exceed specified limits
Presumptive Taxation Cases
-
If income declared is lower than the prescribed percentage under Sections 44AD, 44ADA, etc.
Turnover limits may vary based on digital transaction percentage and updated government notifications.
Objectives of Tax Audit
- Ensure proper maintenance of books of accounts
- Verify income computation
- Confirm deductions claimed
- Report non-compliance
- Ensure correct tax liability
- Prevent tax evasion
Scope of Tax Audit
Our Tax Audit includes:
- Verification of books of accounts
- Turnover reconciliation
- Expense validation
- TDS compliance check
- GST reconciliation
- Depreciation calculation
- Reporting under Form 3CD
- Submission of audit report
Documents Required for Tax Audit
- Financial Statements
- Trial Balance
- Bank Statements
- GST Returns
- Purchase & Sales Registers
- TDS Returns
- Fixed Asset Register
- Loan & Investment Details
Forms Used in Tax Audit
- Form 3CA – For entities already audited under other laws
- Form 3CB – For entities not required to be audited under other laws
- Form 3CD – Statement of particulars
Due Date for Tax Audit
Tax Audit report must be filed before the prescribed due date under Income Tax provisions (generally 30th September / 31st October depending on applicable year and amendments).
Late filing may attract penalties.
Penalty for Non-Compliance
Failure to conduct Tax Audit may lead to:
- Penalty up to 0.5% of turnover
- Maximum penalty up to ₹1,50,000
- Notice from Income Tax Department
- Disallowance of expenses
- Increased scrutiny
Benefits of Tax Audit
- Legal compliance
- Reduced risk of penalties
- Proper financial reporting
- Better financial discipline
- Easier loan approval
- Improved credibility
Industries We Serve
We provide Tax Audit services to:
- Manufacturing Companies
- Trading Firms
- Retail Businesses
- IT & Software Companies
- Construction Companies
- Healthcare Institutions
- Hospitality Industry
- E-commerce Sellers
- Professionals (Doctors, CA, Lawyers, Consultants)
- Import & Export Businesses
- Startups & MSMEs
Why Choose OS Management Consulting Services (OSMCS)?
- Experienced Chartered Accountants
- Accurate & Compliant Reporting
- Timely Filing of Audit Reports
- Detailed Reconciliation
- Confidential Data Handling
- Compliance Advisory
- Pan-India Service
Our Process
- Consultation & Eligibility Check
- Document Collection
- Books Examination
- Reconciliation & Reporting
- Draft Review
- Final Audit Report Filing
We Serve Across India Including
Andhra Pradesh, Bihar, Chhattisgarh, Gujarat, Haryana, Himachal Pradesh, Jharkhand, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Odisha, Punjab, Rajasthan, Tamil Nadu, Telangana, Uttar Pradesh, Uttarakhand, West Bengal, Delhi, and Chandigarh.
Get Your Tax Audit Completed Professionally
Avoid penalties and ensure complete tax compliance with expert guidance.
OS Management Consulting Services (OSMCS)
📞 +91-9818464539
Professional | Reliable | Compliant Tax Audit Services