Quick answer
Who needs a tax audit?
Businesses with turnover above ₹1 crore (₹10 crore if cash is within 5%) and professionals with receipts above ₹50 lakh, plus some presumptive and F&O cases. The report is due by 30 September and must be signed by a practising Chartered Accountant.
Who needs a tax audit?
- Businesses with turnover above ₹1 crore. The limit is ₹10 crore if cash receipts and cash payments are each within 5% of the total.
- Professionals with gross receipts above ₹50 lakh.
- Businesses and professionals using presumptive taxation who declare a lower profit than the scheme allows, in some cases.
- F&O traders above these limits, and in some loss years.
Not sure if you need one? Send us your turnover and how you are paid, and we will tell you.
Key dates and penalty
- The tax audit report is due by 30 September after the financial year ends.
- The income tax return for audited taxpayers is due by 31 October.
- For FY 2025-26, the government extended these to 21 October 2026 for the audit report and 21 November 2026 for the return.
- Not getting a required audit can attract a penalty of 0.5% of turnover, up to ₹1.5 lakh.
What we do
- Finalise your books and reconcile them with GST returns, TDS records and Form 26AS.
- Prepare the schedules: fixed assets and depreciation as per income tax rules, loans, related party transactions, and other details the audit report needs.
- Prepare clause-by-clause workings for the tax audit report (Form 3CD, which becomes Form 26 for audits of tax year 2026-27 onwards).
- Coordinate with our associate practising Chartered Accountant, who reviews, signs and uploads the audit report.
- File your income tax return on time after the audit.
Companies also need a statutory audit under the Companies Act, by a practising Chartered Accountant, whatever their turnover. We prepare the books and schedules for that too. See ROC annual compliance.
What clients say
I had a great experience with silvia consultancy firm. They handled my auditing, tax filing, GST, and FSSAI work very efficiently and professionally. The team is knowledgeable, responsive, and always ready to clarify doubts.
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Common questions
Who signs my tax audit report?
A tax audit report can only be signed by a practising Chartered Accountant. Ours is signed by our associate practising Chartered Accountant, after we prepare the books and workings.
When should we start the tax audit?
Ideally by July. Starting early leaves time to fix gaps in books, GST or TDS before the 30 September due date.
I am a professional using presumptive taxation. Do I need an audit?
Usually not, if your receipts are within the limit and you declare at least the presumptive income. If you declare less, an audit may be needed. We check your case.
Get a clear quote today
Send us a WhatsApp with a line about your situation. The first consultation is free, and we reply within one working day, usually the same day.