Tax Audit
Vaibhav Chavan & Co., a leading Chartered Accountant firm in Pune, specializes in providing expert Tax Auditing services mandated by the Income Tax Act. Our experienced professionals conduct a detailed examination of financial records, ensuring compliance with Section 44AB of the Income Tax Act, 1961.
Our comprehensive Tax Auditing services cater to businesses with turnovers exceeding Rs 1 Crore and professionals with incomes surpassing Rs 50 lakh. We act as a reliable guide, offering proactive advice on maintaining proper books of accounts and ensuring accurate filing of tax returns.
We understand the significance of the Presumptive Taxation Scheme under Sections 44AD and 44ADA for businesses and professionals with turnovers below Rs 2 crore and incomes below Rs 50 lakh. This scheme eliminates the need to maintain books of accounts, offering a simplified approach to tax compliance.
Our services extend beyond numbers, focusing on an in-depth analysis of turnovers, covering duty drawback, interest income, and transaction receipts. We exclude specific items such as the sale or purchase of fixed assets, rental income, and reimbursements to ensure accuracy in turnover calculations.
The objectives of our Tax Auditing services encompass meticulous maintenance of books of accounts, reporting any discrepancies promptly, and providing comprehensive reports in accordance with specified forms (3CA/3CB and 3CD). A Tax Audit proves financially beneficial for businesses, offering credibility, assurance to shareholders, and contributing to a positive reputation.
Our tax auditors submit reports online, leveraging advanced technology for efficiency and accuracy. Clients can conveniently accept or reject reports through their personalized login portal, ensuring transparency in the process. Adhering to the due date for filing tax returns post Tax Audit (September 30th of the current year), Vaibhav Chavan & Co. prioritizes timely compliance.
In addition to Tax Auditing, we offer a range of Audit Services:
- Internal Audit: Assessing a company’s internal controls, corporate governance, and accounting processes for enhanced efficiency.
- Statutory Audit: Statutory Audit, mandated by law, ensures accuracy in financial records, compliance with laws, and a true depiction of a company’s financial health. Conducted by independent Accountants, it upholds transparency and legal standards.
- Forensic Audit: Detecting, improving, or mitigating the chances of fraud or misappropriation of resources/funds through forensic auditing.
- Cost Reduction Audit: Identifying loopholes in business operations, processes, and transactions and suggesting cost-effective measures.
- Management Audit: Collaborating closely with management to enhance efficiency in specific operational management functions.
- Revenue Audit: Scrutinizing tax return figures against business records to ensure accuracy and compliance.
- Financial Statements Audit: Ensuring financial statements align with Indian GAAP, US GAAP, J GAAP, and IFRS.
- Audit Support: Offering unparalleled support in the audit process, enhancing efficiency either independently or alongside existing teams.
Choosing Vaibhav Chavan & Co. for Tax Auditing services ensures not only regulatory compliance but also credibility, assurance, and financial benefits for your business. Our dedication to tailored solutions, timely compliance, and client satisfaction makes us a reliable partner for businesses and professionals seeking expert tax-related guidance in Pune and beyond.
Feel free to reach out to us for any inquiries or to initiate a Tax Audit.