Tax and Balance Sheet Audit

A Tax Audit ensures compliance with tax laws by verifying a business’s financial records, mandated under Section 44AB of the Income Tax Act. A Balance Sheet Audit examines a company’s assets, liabilities, and equity to ensure financial accuracy and transparency. Both audits help in regulatory compliance and fraud prevention.

Required Documents:

• Financial statements (Balance Sheet, P&L Statement).
• Books of accounts and vouchers.
• GST Returns and ITR details.
• Loan statements (if applicable).

Information:

• Mandatory for businesses with turnover above ₹1 crore or professions with receipts above ₹50 lakhs.
• Audit ensures compliance with tax laws.