Income Tax audit report has to be filed in:
Form 3CA– Where the books of accounts of the business or profession of the person have been audited under any other law, Form 3CA is required to be filed.
Form 3CB– Where the books of accounts of the business or profession of the person have not been audited under any other law, in such a case Form 3CB is required to be filed.
Form 3CD – Form 3CD is the form that has to be filed in both of the above cases. Form 3CD is the Statement of particulars to be furnished under section 44AB.
How and when tax audit report shall be furnished?
Tax auditor shall furnish tax audit report online at https://www.incometaxindiaefiling.gov.in
by using his login details in the capacity of ‘chartered accountant’. Taxpayer shall also add CA details in their login portal. After uploading audit report by tax auditor, it should either be accepted/rejected by taxpayer. Where it is rejected for any reason, all the procedures need to be followed again until the taxpayer accpects the the audit report.
NOTE: Tax audit report shall be filed on or before the due date of filing the return of income under section 139(1) i.e., 30th November of the subsequent year where a taxpayer has entered into an international transaction and 30th September of the subsequent year in case of other taxpayers.
If a taxpayer is required to conduct audit u/s 44AB but fails to get his accounts audited, then he will be liable for penalty under section 271B. Penalty will be levied for failure to get the accounts audited or failure to furnish a report of audit as required u/s 44AB. Penalty shall be levied 1.5% of total sales or Rs. 1,50,000, whichever is less.