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3CB 3CD Audit

Get Accurate Form 3CB & 3CD Audits Today!

Tired of Tax Season Stressing You Out? Let FRIENDSTAX Help! Get Accurate Form 3CB and 3CD Audits so you can start to have fun with your Finances Again.

What is Form 3CB & 3CD Audit?

Form 3CB and 3CD are income tax compliance documents required by the Income Tax Department in India. They are used to assess an individual’s or company’s tax liability for a given financial year. This is done by filing these forms on an annual basis, along with the relevant annexures, which include details of all taxable income that has been earned during a given financial year.

The information provided in Forms 3CB and 3CD should be accurate, as it will be audited at the time of filing your IT return. As such, taxpayers must ensure they provide only true and correct information when filling these forms out so as not to face any penalties from the Income Tax Department upon audit.

Particulars of Form 3CB

  • Form 3CB is a statement of particulars of auditor’s report, which is used for tax audits in India.
  • It is applicable to every person or business whose income exceeds the limit prescribed in the Indian Income Tax Act.
  • The form requires the auditor to provide details about their audit work, such as test checks, books of account, and other relevant documents.
  • The purpose of the form is to ensure that taxpayers are paying the correct amount of taxes on their income.
  • It should be filed with the Income Tax Department along with Form 3CD within 30 days of receiving the tax audit order.
  • In case of any discrepancies, the taxpayer may be asked to furnish additional evidence or clarify certain points.

Particulars of Form 3CD

  • Form 3CD is a document to be filed as part of the annual GST audit under section 44AB of the Income Tax Act, 1961.
  • This document is required to be filed by companies with a turnover exceeding Rs 1 crore in the previous year.
  • The form is required to be submitted for all tax years on or before the due date, which is usually 30th September of the respective assessment year.
  • Form 3CD consists of details about the audit and details of the audited accounts.
  • It also includes details regarding payments and deductions, advance taxes, tax collected at source, self-assessment taxes, fringe benefits, and disallowances.
  • It further contains details regarding depreciation and assets, income from business or profession, income from other sources, and total income and loss.
  • Taxpayers have to provide the details of transactions and information related to deductions such as expenditures incurred on sales, advertisement, business promotion, etc.
  • Lastly, the form contains a summary of the total profit or loss calculated during the year and the total tax liability of the taxpayer.

Why Choose FRIENDSTAX for 3CB & 3CD Audit?

  • FRIENDSTAX is a leading provider of 3CB & 3CD audit services in India.
  • Our experienced and knowledgeable team of professionals is dedicated to providing clients with the most accurate and up-to-date audit reports.
  • We offer an easy-to-use, user-friendly platform to help clients simplify and streamline their tax audit process.
  • Our team of experts can provide you with tailored advice and guidance to ensure your audit is conducted in accordance with the applicable laws and regulations.
  • We also provide a comprehensive GSTR-9C preparation service to ensure all your taxes are accurately calculated and filed on time.
  • All our services are available at competitive prices so you can be sure you're getting the best value for your money.

Documents Required for 3CB & 3CD Audit

  • A copy of the balance sheet, income statement, and schedules.
  • Form 3CB.
  • Form 3CD.
  • An audit report of financial statements for the preceding financial year.
  • Details of depreciations including opening and closing balances.
  • Details of assets disposed of in the relevant assessment year.
  • List of Sundry Debtors & Creditors.
  • GST returns filed for the period under audit.
  • Details of unutilized input tax credit.
  • Certified copies of statutory books like the register of members, register of debenture holders, etc.
  • Other documents may be required as per the nature of the business.
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