TL;DR for CAs
- Turnover and presumptive opt-out drive tax audit applicability.
- Form 3CA/3CB and 3CD disclosures must match books.
- Report clauses on TDS, loans, and ratios carefully.
What it is
Tax audit under Section 44AB requires a CA to report on books and prescribed particulars for eligible assessees.
Who it applies to
Businesses/professionals crossing turnover thresholds or failing presumptive conditions.
Key provisions
- Forms 3CA/3CB and 3CD
- Due dates linked to ITR
- Clause-wise reporting on compliance
Practical tips for CAs
Use a clause ownership matrix. Freeze trial balance before 3CD drafting.
Common mistakes
Incomplete TDS reporting; wrong turnover computation; late upload without UDIN.
For general guidance only. Verify with the latest Finance Act, GST notifications, and ICAI guidance notes before advising clients.