Precision-Driven Tax Audits, Delivered On Time
At Lekshmi N Iyer & Associates, we assist businesses in meeting their Income Tax Act, 1961 audit obligations under Section 44AB. Our tax audit process is structured, technology-driven, and focused on preventing penalties and ensuring financial accuracy.
What Our Tax Audit Covers
Audit Planning & Turnover Verification – Sales, receipts, accounting method & books
Form 3CA/3CB & 3CD Reporting – Full coverage of disclosures as per IT Act
Expense Review & Section 40/43B Compliance – Identification of disallowances, TDS lapses, and provisions
GST & TDS Reconciliation – Cross-verification of indirect and direct tax data
Filing & Submission to ITD – Timely upload of reports and backup filing
Includes review of CARO applicability, partner remuneration, presumptive taxes, and depreciation.
Why This Matters
Missing tax audit deadlines can result in financial penalties and scrutiny. Our services help ensure that every entry, ledger, and form aligns with the law—making your financial story audit-ready and error-free.
Aligning records. Avoiding red flags.
Applicability Check
Determine eligibility and applicable forms based on income thresholds.Document Collection & Ledger Review
Review books of accounts, loan statements, sales records, and expenses.Compliance Verification
Check TDS, GST, depreciation, and presumptive tax conditions.Form 3CA/3CB & 3CD Preparation
Populate statutory audit forms with reconciled, accurate entries.Filing & Support
Submit audit reports with acknowledgment, handle follow-up clarifications.
Why Timely Tax Audit Matters
Avoid Penalties
Missing deadlines can trigger ₹1.5L+ in penalties and compliance scrutiny.
Boost Investor Confidence
Clear tax audit reports help startups and SMEs maintain credibility during funding rounds.
Prevent Disallowances
Identify expenses that could lead to tax additions or denial of deductions.
Align with GST/TDS
Ensure your direct tax data matches other government filings.
Tax Audit FAQs
Common questions about income tax, compliance, and litigation support in India.
When is tax audit required?
It’s mandatory under Section 44AB if turnover/professional receipts exceed threshold or certain tax schemes are opted out of.
What’s the penalty for late tax audit filing?
₹1.5 lakh or 0.5% of turnover—whichever is lower.
Do I need both tax audit and statutory audit?
Yes, if applicable under respective laws. They serve different purposes.
Is TDS reconciliation part of the audit?
Yes, we check TDS deduction, payment, and matching with expense entries.
