Audit Preparation & Tax Compliance
Getting books audit-ready — reconciliations, schedules and documentation for statutory and tax audits, plus GST and TDS compliance checks.
- Estimate Cost
- ₹10,000 – ₹75,000
- Typical duration
- 10 days
Service overview
Preparing a business's books, schedules and documentation so that statutory and tax audits run smoothly, and checking that GST, TDS and income tax positions are compliant before the auditor or the tax department finds the gaps.
Who needs it? / When is it needed?
- Companies approaching their statutory audit
- Businesses liable to tax audit under Section 44AB
- Businesses with unreconciled GST, TDS or bank balances
- First-time audit clients
What to expect from the WCP Professionals
- Audit-readiness review of the trial balance and ledgers
- Reconciliation of GST returns with books and GSTR-2B
- TDS reconciliation with Form 26AS and returns
- Preparation of audit schedules — fixed assets, debtors, creditors, loans and provisions
- Compilation of supporting documents requested by auditors
- List of compliance gaps with corrective steps
Key deliverables
- Audit-ready trial balance and schedules
- GST and TDS reconciliation statements
- Document index for the auditor
- Compliance-gap report
Standard turnaround time
Usually 5–15 working days, depending on the state of the books and volume of transactions.
Government fees, timelines & key outcomes
No government fee for audit preparation. Any shortfall found in GST or TDS is payable with interest, ideally before the audit or return due date.
The tax audit report is due one month before the income tax return due date.
Key outcomes: a faster, cleaner audit with fewer qualifications and fewer tax notices.
Forms & filings involved
- Supports the statutory audit report and the tax audit report in Form 3CA/3CB with Form 3CD
- Corrective GST (DRC-03) or TDS correction filings, where gaps are found
Documents required
- Trial balance, ledgers and bank statements
- GST returns and GSTR-2B
- TDS returns and Form 26AS
- Fixed-asset invoices, loan statements and confirmations
- Prior-year audit report and observations
What we need from you
- Access to books and portals (GST, TRACES, income tax)
- Responses to reconciliation differences
- Auditor's requirement list, if already issued
Important conditions
Audit preparation does not replace the audit; the independent auditor forms their own opinion.
The professional preparing the books cannot be the statutory or tax auditor of the same entity.
Additional information
A tax audit is required where business turnover exceeds ₹1 crore (₹10 crore where cash transactions are within 5%) or professional receipts exceed ₹50 lakh.
The estimated cost covers indicative professional fees only. Government fees, stamp duty and taxes are payable at actuals.
How it works
- 1. Raise a service enquiry describing your requirement.
- 2. A Relationship Manager reviews it and opens it for bidding.
- 3. Pay into escrow and assign the professional you select.
- 4. Track progress to completion, then accept and release payment.
Frequently asked questions
What makes books audit-ready?
Reconciled bank, GST and TDS balances, supported schedules for assets and liabilities, and documents indexed for the auditor.
When is a tax audit required?
When business turnover exceeds ₹1 crore (₹10 crore with cash transactions within 5%) or professional receipts exceed ₹50 lakh.
Can the accountant also be the auditor?
No. The auditor must be independent of the person who prepares the books.
What if GST or TDS shortfalls are found?
They can be paid with interest before the audit or due date, which usually reduces penalties.