Tax Audit

Tax Audit Services for Businesses and Professionals

Keeping your accounts in order is important for every business. When a tax audit becomes applicable, understanding the requirements, preparing the necessary records and completing the reporting process on time can save unnecessary stress.

LEGALLY helps eligible businesses, professionals and taxpayers organise their financial information and understand the documentation required for tax audit compliance. We review the information provided, coordinate the preparation of relevant records and assist with the applicable reporting process.

Who May Need Tax Audit Assistance?

Tax audit requirements depend on the nature of your business or profession, turnover or gross receipts, income declared and the conditions prescribed under the Income-tax Act. Our service is intended for taxpayers who need help assessing these requirements and preparing for the applicable audit process.

What We Help With

• Initial review of tax audit applicability
• Collection and organisation of books of accounts
• Review of financial statements and supporting records
• Assistance with information required for Form 3CA, Form 3CB and Form 3CD, as applicable
• Coordination with the practising Chartered Accountant responsible for conducting and signing the audit
• Assistance with filing the applicable audit report and checking submission status

Documents You May Need

Depending on your business or profession, the documents may include financial statements, books of accounts, bank statements, sales and purchase records, expense details, GST returns, previous income tax returns and other supporting documents.

Our Process

First, we understand your business activity and review the information you share. We then identify the records required for the applicable compliance process, help organise the documents and coordinate the next steps. Any audit report that requires certification must be completed and signed by a qualified practising Chartered Accountant.

Clear Guidance, Proper Documentation

Every taxpayer's situation is different. The applicability of a tax audit, the reporting requirements and the filing deadline depend on the facts of the case and the law applicable for the relevant financial year.

Contact LEGALLY to discuss your requirements, expected documents, professional fees and the appropriate next steps. Fees for a Chartered Accountant's audit and certification may be quoted separately, depending on the scope of work.