📍Visakhapatnam, Andhra Pradesh
Tax Audit (Section 44AB) for Visakhapatnam Businesses
Mandatory audit of accounts by a Chartered Accountant for businesses and professionals crossing prescribed turnover/gross receipts thresholds, as required under Section 44AB.
Tax Audit under Section 44AB of the Income Tax Act, 1961 in Visakhapatnam — Local Context
Section 44AB mandates a CA-conducted tax audit for businesses with turnover exceeding ₹1 crore (or ₹10 crore for digital transactions). Visakhapatnam's port logistics, steel ancillaries, retail, and construction sectors produce a large pool of audit-liable entities. The audit report (Form 3CA/3CB + 3CD) must be filed before the ITR due date — 31 October for most businesses.
Regulatory Office
Income Tax Commissionerate, Visakhapatnam
Administers tax audit compliance, scrutiny assessments, and penalty proceedings under Section 271B (penalty for non-audit: 0.5% of turnover or ₹1.5L, whichever is lower).
Typical Visakhapatnam Scenarios
- Steel ancillary manufacturer in Gajuwaka crossing ₹1Cr turnover — first-time 44AB audit, Form 3CD clause-by-clause documentation
- Vizag-based shipping agent with revenue from port services — specific disclosure requirements for commission income and TDS reconciliation
- Construction contractor in Rushikonda IT Park project — presumptive vs regular income determination before deciding audit applicability
Who We Serve in Visakhapatnam
Income Tax Commissionerate VisakhapatnamICAI Visakhapatnam BranchVizag PortGajuwaka Industrial Area
Why Harun Raaj & Associates in Visakhapatnam
We are an ICAI-registered CA firm (Membership No. 238303) based in Visakhapatnam. Every output — certificate, return, or advisory — is reviewed and signed by a CA and carries a UDIN for authenticity. We handle the full regulatory workflow so your team doesn't have to — from document collection through filing or certification.
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