A tax audit under Section 44AB of the Income Tax Act is mandatory for businesses and professionals above prescribed turnover/gross receipt limits. Amar Pandey & Company offers professional tax audit and statutory audit services in Navi Mumbai to ensure compliance, accuracy, and minimum tax liability for your business.
Who Requires Tax Audit Under Section 44AB?
| Category | Audit Threshold |
|---|---|
| Business (regular) | Turnover exceeds ₹1 crore |
| Business (cash transactions less than 5%) | Turnover exceeds ₹10 crore |
| Professionals | Gross receipts exceed ₹50 lakhs |
| Presumptive taxation (opted out) | If lower income declared than prescribed rate |
Our Audit Services
- Tax Audit (Section 44AB) — Form 3CA/3CB and 3CD preparation and filing
- Statutory Audit — Independent audit of financial statements for companies and LLPs
- Internal Audit — Review of internal controls, processes, and financial systems
- GST Audit (GSTR-9C) — Reconciliation and certification of GST returns
- Bank Audit — Revenue audit, concurrent audit, and stock audit for banks
- NGO / Trust Audit — Audit under Section 12A/80G for charitable trusts
Penalty for Not Getting Tax Audit Done
If a taxpayer required to get a tax audit done fails to do so, the penalty under Section 271B is 0.5% of the turnover or ₹1,50,000 — whichever is lower. This penalty can be avoided by engaging a qualified CA before the due date.
Why Choose Our CA Firm for Audit in Navi Mumbai?
We bring 7+ years of audit experience across industries including trading, manufacturing, retail, professional services, and IT companies in Vashi, Belapur, Nerul, Kharghar, and across Navi Mumbai. We ensure your audit is completed well before the October 31 deadline. Contact us today to schedule your tax audit.