Comprehensive Income Tax Audit & Compliance
End-to-end audit services with strict adherence to Section 44AB and CBDT guidelines.
Audit & Assurance
Income Tax Audit Services in Hyderabad
Comprehensive Income Tax Audits for Businesses and Professionals. There are many types of audits conducted under various laws.
What is an Income Tax Audit?
An Income Tax Audit is a detailed examination of a taxpayer's books of accounts, records, and financial statements conducted under the Income Tax Act, 1961. It ensures that the income and deductions declared are accurate and comply with tax regulations. Under Section 44AB of the Income Tax Act, certain taxpayers are mandatorily required to conduct a Tax Audit. At AXIAFIN, we provide Income Tax Audit services in Hyderabad, ensuring that your business remains compliant and audit-ready at all times.
When is a Tax Audit Mandatory?
As per Section 44AB, a taxpayer must undergo a tax audit if the turnover, sales, or gross receipts exceed ₹1 crore during the financial year. However, there are specific circumstances under which a tax audit becomes mandatory. Our income tax auditors in Hyderabad ensure that your audit is conducted as per Finance Act updates and CBDT guidelines.
- For businesses with turnover exceeding ₹1 crore (₹10 crore if cash transactions ≤ 5%).
- For professionals whose gross receipts exceed ₹50 lakhs in a financial year.
- For presumptive taxation cases under sections 44AD, 44ADA, and 44AE where income is lower than prescribed limits.
Recent Amendments in Tax Audit Provisions
The Finance Acts of 2020 and 2021 introduced major changes to the threshold limits for tax audit under Section 44AB. These amendments aim to reduce compliance burden for small and medium businesses with predominantly digital transactions.
- Finance Act 2020 — Threshold raised from ₹1 crore to ₹5 crore for taxpayers with cash receipts and payments limited to 5% of total transactions.
- Finance Act 2021 — Effective April 1, 2021, threshold further increased to ₹10 crore if cash transactions do not exceed 5% of total transactions.
About the Audit Report — Forms 3CA, 3CB and 3CD
Tax auditor furnishes the report in either Form 3CA or Form 3CB. Form 3CA is used when a person is already mandated to get accounts audited under any other law. Form 3CB is used when a person is not required to get accounts audited under any other law. Tax auditor must furnish prescribed particulars in Form 3CD, which forms part of the audit report.
Key Advantages
Why Choose AXIAFIN for Income Tax Audit Services
Form 3CA/3CB/3CD Reports
Accurate preparation of audit reports with all prescribed particulars in Form 3CD.
Section 44AB Expertise
Expert guidance on Tax Audit under Section 44AB, including presumptive taxation cases.
Finance Act Advisory
Up-to-date advisory on Finance Act amendments and threshold updates.
Digital Tax Audit
Digital tax audit and filing support — fully online and paperless workflows.
100% Compliance
Our mission is to simplify the audit process while ensuring 100% compliance with all Income Tax laws in India.
Why AXIAFIN
Why Choose AXIAFIN for Income Tax Audit Services in Hyderabad
At AXIAFIN, we combine professionalism, accuracy, and expertise to deliver the best income tax audit services. Our team handles every step — from books examination, compliance testing under Section 44AB, preparation of Form 3CA / 3CB / 3CD, to final upload on the Income Tax portal — ensuring your business stays audit-ready throughout the year.
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The Process
How we deliver
01
Eligibility Check
Determine applicability under Section 44AB based on turnover or gross receipts.
02
Books Review
Detailed examination of books of accounts, vouchers, and financial statements.
03
Form 3CA / 3CB
Prepare the appropriate audit report form based on existing audit obligations.
04
Form 3CD Particulars
Complete prescribed particulars covering all clauses of Form 3CD.
05
Portal Upload
Digital sign and upload the tax audit report on the Income Tax portal.
Embracing the Income Tax Audit
Look ahead to the future of income tax audit and the opportunities for digital transformation, collaboration, and continuous improvement in the audit profession.