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Indian Tax Firm
Welcome to Indian Tax Firm– Your Gateway to Financial Empowerment!
At Indian Tax Firm , we are dedicated to providing exceptional tax accounting and audit services tailored to meet the unique needs of our clients. With a team of experienced professionals and a commitment to excellence, we strive to deliver accurate, reliable, and personalized solutions to individuals and businesses alike.
Who is mandatorily subject to tax audit?
A taxpayer is required to have a tax audit carried out if the sales, turnover or gross receipts of business exceed Rs 1 crore and in case of profession exceed Rs 50 lakhs in the financial year. However, a taxpayer may be required to get their accounts audited in certain other circumstances. We have categorised the various circumstances in the tables mentioned below:
How to get in 4 easy steps
Gather Documentation
The first step in tax accounting is to gather all relevant financial information, including income statements
01
Meeting with Auditor
In many cases, the taxpayer will meet with the auditor to discuss the audit process, clarify any questions or concerns, and provide additional information or explanations as needed.
02
Examination of Records
The auditor will examine the taxpayer’s records and financial documents to verify the accuracy and completeness of the reported income, deductions, credits, and other tax-related items.
03
Appeal Process
If the taxpayer disagrees with the audit findings, they may have the option to appeal the decision through an administrative review process or, in some cases, through the courts.
04
Get all the only you need
At Indian Tax Firm, we understand that financial well-being is the cornerstone of a fulfilling life.
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Why Choose Us
We understand that when it comes to managing your finances,
you deserve nothing but the best.
you deserve nothing but the best.
Expertise
Our team comprises highly skilled professionals with extensive experience and expertise in tax accounting and audit services.
Tailored Solutions
We understand that every client is unique, so we offer personalized solutions tailored to meet your specific needs and goals.
Client Satisfaction
We strive to build long-term relationships with our clients by delivering exceptional service,and maintaining the highest standards of professionalism and integrity.
Transparent
You can trust us to provide clear explanations, timely updates, and proactive advice to help you make informed decisions.
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What Our Client Says
Krishna Patel
Customer
I recently had the pleasure of exploring the features of Indian Tax Firm, and I must say it has been a game-changer in how I manage my finances.
Puja Asodariya
Customer
One of the standout features of Indian Tax Firm is its exceptional customer support. The responsive team is quick to queries and concerns.
Radha Khut
Customer
The real-time updates and interactive charts provide a clear overview of your financial health, empowering you to make informed decisions.
Frequently Asked Questions
We specialize in providing comprehensive tax accounting and audit services. This includes tax planning, preparation of tax returns, audit and assurance services, compliance reviews, financial statement audits, internal control assessments, and advisory services.
Our services cater to a wide range of clients, including individuals, small businesses, corporations, partnerships, non-profit organizations, and government entities. Whether you’re an individual taxpayer or a large corporation, we have the expertise to meet your needs.
The duration of a tax audit can vary depending on the complexity of the issues involved, the responsiveness of the taxpayer, and the workload of the tax authorities. Some audits may be resolved relatively quickly, while others may take several months or even years to complete.
Tax accounting involves the preparation, analysis, and presentation of financial information for tax purposes. It focuses on complying with tax laws and regulations while minimizing tax liabilities.
A tax audit is conducted by tax authorities to ensure taxpayers are accurately reporting their income and deductions and complying with tax laws. It aims to verify the accuracy of tax returns and may result in adjustments to tax liabilities or penalties for non-compliance.
Tax audits can be triggered by various factors, including discrepancies or inconsistencies in tax returns, unusually high deductions or credits, random selection by tax authorities, or red flags identified through data matching programs.
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