According to the Companies Act, 2013, there are number of laws framed in India that regulate various audit types, such as an income tax audit, cost audit, stock audit, statutory or company audit. An income tax audit determines whether a person or a company has properly filed their tax returns for the assessment year or not. The guidelines for an income tax audit are outlined in Section 44AB of the Income Tax Act of 1961.

The objective of an income tax audit does not require Taxpayers who are required to have their accounts audited under any other law than Section 44AB of the Income Tax Act of 1961 to get their accounts reviewed. In such cases, the accounts pursuant to any other law may be shown as a tax audit report for the purpose of submitting income tax returns. Prior to the deadline, the audit report must be submitted.

Regulations pertaining to an income tax audit in India are also outlined in the following provisions of the Income Tax Act of 1961-

• For Non-Resident Indians (NRIs) engaged in the business of specialising in the mineral oil industry, such as exploration, see Section 44BB.
• International Company engaged in the business of undertaking certain power projects or other types of civil construction, see Section 44BBB
• Any business, excluding those listed under Section 44AE, is covered by Section 44AD.
• Rules for income tax audits of qualified professionals are mentioned in Section 44ADA.
• The companies that specialise in leasing, employing, and operating goods carriages are the subject of section 44AE.