J S D K & ASSOCIATES is Tax Auditors in Pune, it provides Audit services in Pune Dharashiv, Shewalwadi, Bhosari, and Saswad.
What is a tax audit?
An "audit" is a check, review, verification, or examination of a record, transaction, account, etc. The process of examining and verifying a taxpayer's financial records to ensure compliance with income tax regulations is known as a tax audit.
The Income Tax Act of 1961's Section 44AB addresses the audit of the accounts of a specific group of people who are either professionals or people operating businesses. The class of taxpayers specified in this section are required by law to have a chartered accountant audit their books.
The different sections of the Income Tax law pertaining to these accounts will be examined and verified by the CA. In short, a tax audit is the audit that is mandated by Income Tax Act, 1961 Section 44AB.
An audit report is the audit's output. The chartered accountant compiles this report, which includes his or her conclusions and observations regarding the subject of the audit's compliance.