Form No 3cb: Fill & Download for Free

As per provisions of section 44AB of the Income tax Act, 1961, Audit of accounts of certain persons carrying on business or profession is required to be done by Chartered Accountant if their turnover cross the limit specified under this section.As per rule 6G of Income Tax Rule, 1962Tax Audit Report is required to be submitted in specified form i.e. Form 3CA/3CD or 3CB/3CD.The report of audit (i.e. Audit Certificate) required to be furnished under section 44AB shallin the case of a person who carries on business or profession and who is required by or under any other law to get his accounts audited, be in Form No. 3CA. (https://www.incometaxindia.gov.in/forms/income-tax%20rules/103120000000007765.pdf)in the case of a person who carries on business or profession, but not being a person referred to in clause (a), be in Form No. 3CB. (https://www.incometaxindia.gov.in/forms/income-tax%20rules/103120000000007766.pdf)The statement of particulars required to be furnished under section 44AB is annexed in Form No. 3CD. (i.e. Form 3CD is annexure to Form 3CA/3CB) (https://www.incometaxindia.gov.in/forms/income-tax%20rules/103120000000007767.pdf)Limit (Turnover Limit for Audit) specified under section 44AB is as under,Category of Taxpayer : Limit from FY 2016-17 OnwardsBusiness (Not opting Presumptive Income Scheme) : 1 croresBusiness (opting Presumptive Income scheme u/s 44AD) : 2 croresProfessionals (Whether opting Presumptive Income Scheme u/s 44ADA or not) : 50 Lakhs

Yes, it is required to file 3CA and 3CD. Not 3CB though.Proviso 3 to Section 44AB of Income Tax Act:Provided also that in a case where such person is required by or under any other law to get his accounts audited, it shall be sufficient compliance with the provisions of this section if such person gets the accounts of such business or profession audited under such law before the specified date and furnishes by that date the report of the audit as required under such other law and a further report by an accountant in the form prescribed under this section.So audit report under this Section 44AB will be required, which means 3CA and 3CD is required.Rule 6G of Income Tax Rules:6G. (1) The report of audit of the accounts of a person required to be furnished under section 44AB shall,—(a)in the case of a person who carries on business or profession and who is required by or under any other law to get his accounts audited, be in Form No. 3CA ;(b)in the case of a person who carries on business or profession, but not being a person referred to in clause (a), be in Form No. 3CB.(2) The particulars which are required to be furnished under section 44AB shall be in Form No. 3CD.]So every company will have to file 3CA and 3CD.However no separate tax audit is needed, since all information will be covered under Statutory audits.

Section 44AB of the Income Tax Act 1961, contains the provisions for the tax audit.This section makes it obligatory for a person carrying on business to get his accounts audited by a chartered accountant, and to furnish by the ‘specified date’, the report in the prescribed form of such audit, if the total sales, turnover, or gross receipts in business in the relevant previous year exceed or exceeds the prescribed limit.Tax Audit refers to the independent verification of the books of accounts of the assessee by a chartered accountant, to form an opinion on the matters related to taxation compliances carried out by the assessee as per Income Tax Act 1961 and rules made thereunder.While preparing the books of accounts of the business or profession for the purpose of income tax filing, the assessee has to comply with the provisions of the Income-tax Act, 1961 particularly from section 28 to section 44DB.The report of the tax audit conducted by the chartered accountant is to be ​furnished in the prescribed form and to be electronically filed The form prescribed for audit report in respect of audit conducted under section 44AB​ is Form No. 3CA/3CB and the prescribed particulars are to be reported in Form No. 3CD.Failure to get books audited under Section 44AB, lead to penalty under Section 271B, the penalty shall be lower of the following amounts:0.5% of the total sales, turnover, or gross receipts, as the case may be, in business, or of the gross receipts in the profession, in such year or years.Rs. 1,50,000.However, according to section 271B​, no penalty shall be imposed if reasonable cause for such failure is proved.