Section 44AB of the Income-tax Act, 1961 contains the provisions for the tax audit of an entity. As per these provisions, tax audit shall be conducted by a Practicing Chartered Accountant who ensures that the taxpayers have maintained proper books of account and complied with the provisions of the Income-tax Act.
In this article, Taxmann’s Advisory and Research Team (Income Tax) have prepared 94 FAQs about the tax audit and bifurcated those into various categories such as:
‣ Introduction & Applicability of Tax Audit
‣ Due Date & Process to File Tax Audit Report
‣ Computation of Gross Receipts or Turnover
‣ Income Computation & Disclosure Standards (ICDS)
‣ Method of Accounting, GST & Ind AS
‣ Disclosure & Reporting in Form 3CD
