What is a Tax Audit? As the name suggests tax audit is an examination of books of account of any business or profession from a tax compliance viewpoint. It involves the assessment of income tax returns, deductions claimed, income earned, and other provisions of the income tax act. A tax audit can be conducted only by a Chartered Accountant in practice. In which form the tax audit report has to be obtained? Form No. 3CA/3CB is a format of audit report, whereas Form 3CD is a statement of particulars required to be furnished under Section 44AB of the Income-tax Act. Where an assessee is required to get his books of accounts audited under any other law, it is sufficient for him to get his accounts audited under that law and furnish a report of such audit and a report in form 3CA and 3CD by a Chartered Accountant by the prescribed due date Category of Taxpayer Form for Audit Report Annexure to Audit Report If the books of account of the assessee ...
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