Commercial's Professional Guide to TAX AUDIT (Financial Years 2024–2025 and 2025–2026)
 

Commercial's Professional Guide to TAX AUDIT – 8th Edition, 2025 is a comprehensive and updated commentary designed to serve as a reliable companion for tax professionals, chartered accountants, and corporate finance teams engaged in Tax Audits under Section 44AB of the Income Tax Act, 1961. This edition is thoroughly revised to include the latest amendments as per the Finance Act, 2025, updated CBDT circulars, revised tax audit forms (Form 3CA, 3CB, and 3CD), and updated guidance from ICAI and judicial precedents.

Covering both Financial Years 2024–25 and 2025–26, the book offers deep insights into the legal provisions, reporting requirements, documentation standards, and practical audit considerations for different types of entities including companies, LLPs, proprietorships, professionals, and firms.

With its structured layout, exhaustive commentary, real-world illustrations, and compliance tools, this guide is an indispensable resource for ensuring accuracy, avoiding penalties, and adhering to statutory audit obligations efficiently and effectively.

Key Features:

• ✅ Covers FYs 2024–25 and 2025–26: Dual-year coverage makes it a valuable resource for both ongoing and upcoming audit assignments.

• ✅ Updated as per Finance Act 2025: Includes all relevant amendments impacting tax audit reporting, deductions, thresholds, and disclosures.

• ✅ Detailed Clause-wise Commentary: Exhaustive interpretation of each clause of Form 3CD, with examples and reporting checklists.

• ✅ Practical Audit Checklists: Includes ready-to-use audit programs, client information formats, working papers, and documentation templates.

• ✅ ICAI Guidance and Judicial Precedents: Incorporates relevant ICAI announcements, FAQs, and leading case laws for authoritative clarity.

• ✅ Industry-specific Audit Guidance: Highlights reporting nuances in sectors like manufacturing, trading, service industry, professionals, and NGOs.

• ✅ Reporting under ICDS & GST Impact: Clear treatment of Income Computation and Disclosure Standards (ICDS) and GST implications in Tax Audit.

• ✅ Special Scenarios Covered: Includes audit of presumptive income cases, multiple businesses, transfer pricing, depreciation, and capital vs. revenue disputes.

Why This Book is Essential:

• 🔹 Essential Reference for Tax Professionals: Serves as a go-to guide for practicing Chartered Accountants and tax consultants handling diverse client profiles.

• 🔹 Helps Ensure Accurate & Timely Compliance: Avoids errors in tax audit reports and ensures adherence to statutory timelines and audit standards.

• 🔹 Ideal for Firms & Corporate Teams: A perfect companion for internal audit departments, finance professionals, and compliance officers.

• 🔹 Useful for CA Final & Post-qualification Learners: A great academic aid for CA students and young professionals developing their audit expertise.

• 🔹 Practical Focus with Actionable Tools: Designed for real-world use, helping professionals deliver thorough and compliant audit reports.

Commercial's Professional Guide to TAX AUDIT – 8th Edition, 2025 is your all-in-one manual for conducting Tax Audits with confidence and precision. Backed by expert analysis, updated law, and hands-on tools, this book ensures that tax audit reporting for FYs 2024–25 and 2025–26 is error-free, timely, and fully compliant with Indian tax laws.