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Income Tax Audit Filing Services
We are also providing Income Tax Audit Filling services. For more than 5 years, Indiabizline Online Solutions has been helping clients for audit filling in Mumbai. Income Tax Audit Filling services in Wadala. Audit Filling services in Wadala. Audit Filling services in Sion.Income Tax Audit filling services in Antophill. Audit Filling services all over the Mumbai. We provide all tax consultant related services in Wadala, Kurla, Sion, Antophill Mumbai India. At Indiabizline, Our CA provides all types of tax consultant service regarding audit filling all over the Mumbai and for delivering results.
Audit For Campany/NGO/School
There are various kinds of audit being conducted under different laws such as company audit/statutory audit conducted under company law provisions, cost audit, stock audit etc. Similarly, Income tax law also mandates an audit called ‘Tax Audit’. As the name itself suggests, Tax audit is an examination/review of accounts of the business /profession from income tax viewpoint such as income, deductions, compliance with income tax law etc. Tax audit makes the income computation for filing the return easy.
Objectives of tax audit
Tax audit is being conducted to achieve the following:
- Ensure proper maintenance and correctness of books of accounts and certification of the same by tax auditor
- Reporting of observations/discrepancies noted by tax auditor after a methodical examination of books of account
- Reporting prescribed information such as tax depreciation, compliance of various provisions of income tax law etc. This in turn enables and also saves time of tax authorities in verifying the correctness of income tax return filed by the taxpayer such as total income, claim for deductions etc.
Procedure of Audit
It involves the following steps.
- Examination of accounts and other details.
- Forming an audit opinion.
- Preparing an audit report.
You will need to give the auditor access to following details and documents.
- Objectives and by-laws of the trust.
- Balance Sheet.
- Details of income and expenses during the audit period.
- Profit and Loss account.
- Details of application of income for charitable or non-charitable purposes.