Terms & Conditions - Tax Audit

Welcome to Bizeneed India Private Limited. These Terms and Conditions constitute a legally binding agreement between you ('User', 'you', or 'your') and Bizeneed India Private Limited ('Company', 'we', 'us', or 'our') governing your engagement of our Tax Audit services. These Terms are framed in strict accordance with the Income Tax Act, 1961, the Companies Act, 2013, the Indian Contract Act, 1872, the Information Technology Act, 2000, and all other applicable Indian laws and regulations. Please read these Terms carefully before engaging our services. By requesting a quotation, accepting a service proposal, or providing any documents for the purpose of a tax audit, you agree to be bound by these Terms in their entirety. If you do not agree with any provision of these Terms, you must not proceed with the service engagement.

• These Terms govern all engagements for Tax Audit services under Section 44AB of the Income Tax Act, 1961
• The Platform operates as a technology-enabled intermediary connecting you with qualified Chartered Accountants for tax audit services
• By engaging our Tax Audit services, you confirm you have read, understood, and agree to these Terms
• If you act on behalf of a company or legal entity, you represent that you have the authority to bind that entity to these Terms
• Continued engagement with our services after any modifications to these Terms constitutes acceptance of the updated Terms
• Questions regarding these Terms should be directed to legal@bizeneed.in

Our Tax Audit services are designed to assist businesses and professionals mandated under Section 44AB of the Income Tax Act, 1961. The scope includes tax audit of accounts under Section 44AB (including Form 3CD preparation for tax audit reports under Section 44AB read with Rule 6G), preparation and furnishing of Form 3CA/3CD for audit reports under Section 44AB, preparation of Form 3CB for audit reports under Section 44AB applicable to specified persons, review of books of accounts and financial statements for compliance with the Income Tax Act, 1961, verification of tax deducted at source (TDS) and tax collected at source (TCS) compliance, review of tax deducted at source and tax collected at source compliance under Sections 206C and 206B, reconciliation of audited financial statements with income tax returns, advisory on tax audit observations and compliance requirements, assistance with electronic filing of the audit report under Section 44AB with the Income Tax Department, and any other incidental services required for the completion of the tax audit engagement. The specific scope of work for each engagement shall be as detailed in the respective service agreement or engagement letter.

• Tax audit of accounts under Section 44AB of the Income Tax Act, 1961, and preparation of Form 3CD (Report of Audit under Section 44AB)
• Preparation and furnishing of audit report under Section 44AB including verification of all statements and disclosures required under Rule 6G
• Review of books of accounts, financial statements, and accounting records for compliance with the Income Tax Act, 1961
• Verification of TDS/TCS compliance under Sections 206C, 206B and related provisions
• Reconciliation of audited financial statements with income tax returns filed under the Income Tax Act
• Advisory on tax audit observations, compliance requirements, and corrective measures
• Assistance with electronic filing of the audit report with the Income Tax Department
• Services are provided by qualified Chartered Accountants in accordance with the Chartered Accountants Act, 1949

You are required to provide all necessary information, documents, and cooperation to enable the timely and complete conduct of the tax audit. This includes providing audited financial statements for the relevant assessment year, books of accounts including journals, ledgers, trial balances, and subsidiary books, supporting documents for all income, expenditure, assets, and liabilities claimed in the financial statements, copies of income tax returns filed for preceding assessment years, details of tax deducted at source (TDS) and tax collected at source (TCS) compliance, details of tax deductions and collections made under the Income Tax Act, PAN cards and other identification documents of the entity and authorised signatories, bank statements and reconciliation statements, details of related party transactions and disclosures required under Section 40A(2), statutory registers and records maintained under applicable laws, and any other documents, explanations, or information reasonably required by the auditor for the conduct of the tax audit. You represent that all information and documents provided are true, complete, and accurate to the best of your knowledge.

• Provide audited financial statements, including Profit and Loss Account, Balance Sheet, and Cash Flow Statement for the relevant assessment year
• Submit complete books of accounts including journals, ledgers, trial balances, and all subsidiary books
• Provide supporting documents for all income, expenditure, assets, and liabilities claimed in the financial statements
• Furnish copies of income tax returns filed for the preceding three assessment years
• Provide complete details of TDS/TCS compliance, challans, and quarterly/ annual statements
• Share PAN cards, identification documents, and authorisation letters of all authorised signatories
• Provide bank statements, reconciliation statements, and details of all bank accounts
• Disclose all related party transactions as required under Section 40A(2) of the Income Tax Act, 1961
• Cooperate with the auditor and respond to queries within the agreed timelines

Service fees for Tax Audit services are as communicated in the quotation or service proposal and become binding upon your acceptance. All fees are quoted inclusive or exclusive of GST as explicitly specified at the time of quoting. Government fees, stamp duties, out-of-pocket expenses, courier charges, and any other third-party charges are billed separately and are payable in addition to our professional fees. Payment terms require 50% advance payment upon acceptance of the service proposal, with the balance due upon completion of the audit report and before delivery of the final deliverables. Late payments may attract interest at 18% per annum or the maximum rate permitted under applicable law, calculated from the due date until the date of actual payment. We reserve the right to suspend service delivery for engagements with overdue payments exceeding 15 days. All payments must be made through the official payment channels integrated with the Platform. Professional fees once paid are non-refundable except as provided under our Refund Policy. Any additional work requested beyond the defined scope shall be billed separately at mutually agreed rates.

• Service fees are as communicated in the quotation and become binding upon acceptance
• 50% advance payment is required upon acceptance; balance due upon delivery of the completed audit report
• Fees are inclusive or exclusive of GST as explicitly stated in the quotation or invoice
• Government fees, stamp duties, out-of-pocket expenses, and third-party charges are billed separately
• Late payments attract interest at 18% per annum calculated from the due date to the date of actual payment
• Service delivery may be suspended for engagements with overdue payments exceeding 15 days
• Professional fees are non-refundable except as provided under our Refund Policy
• Additional work beyond the defined scope shall be billed separately at mutually agreed rates

The standard timeline for completion of a Tax Audit engagement is 30 to 60 days from the date of receipt of all required documents and information. This timeline is indicative and subject to extension based on the completeness and quality of documents provided, complexity of the books of accounts and financial transactions, the volume and nature of queries raised during the audit process, responsiveness of your team in addressing queries and providing additional information, and any delays caused by government systems, regulatory requirements, or force majeure events. We shall make reasonable efforts to complete the engagement within the agreed timeline. Any material delay in providing required documents or information shall extend the engagement timeline proportionately. We shall communicate any anticipated delays to you promptly and endeavour to minimise the same. The statutory deadline for furnishing the tax audit report under Section 44AB is the due date of filing of the return of income under Section 139(1). It is your responsibility to ensure documents are provided with sufficient lead time to meet statutory deadlines.

• Standard timeline for Tax Audit completion is 30 to 60 days from receipt of all required documents
• Timelines are indicative and subject to extension based on document quality and complexity
• We shall communicate any anticipated delays promptly and make reasonable efforts to minimise them
• Material delays in providing documents or information shall proportionately extend the engagement timeline
• The statutory deadline is the due date for filing of the return of income under Section 139(1) of the Income Tax Act
• You are responsible for providing documents with sufficient lead time to meet statutory deadlines
• Any extension to timelines must be agreed upon in writing by both parties

We are committed to maintaining the confidentiality of all information provided by you during the course of our engagement. All business data, financial records, documents, and any other information disclosed to us shall be treated as confidential and shall not be disclosed to any third party without your prior written consent, except as required under applicable law, regulation, or court order, or as necessary for the performance of our professional services (such as sharing documents with co-auditors or statutory authorities as mandated). Our team members and any sub-contracted professionals are bound by strict confidentiality obligations. All electronic and physical records of your data shall be stored securely in accordance with applicable data protection laws. Upon completion or termination of the engagement, you may request the return or secure destruction of all confidential information held by us, subject to our professional obligation to retain certain records as mandated under the Chartered Accountants Act, 1949 and the Income Tax Act, 1961. Our confidentiality obligations shall survive termination of the engagement.

• All business data, financial records, and documents provided by you shall be treated as strictly confidential
• Information shall not be disclosed to any third party without your prior written consent
• Disclosure may be made if required under applicable law, regulation, or court order
• Team members and sub-contracted professionals are bound by strict confidentiality obligations
• All records shall be stored securely in accordance with applicable data protection laws
• Upon termination, you may request return or secure destruction of confidential information
• Certain records may be retained as mandated under the Chartered Accountants Act, 1949
• Confidentiality obligations survive termination of the engagement

To the maximum extent permitted under applicable Indian law, including the Income Tax Act, 1961, the Information Technology Act, 2000, and the Consumer Protection Act, 2019, Bizeneed India Private Limited's aggregate liability under any service engagement or claim arising from these Terms shall not exceed the professional fees paid by you for the specific Tax Audit service in the preceding 12 months. We shall not be liable for any indirect, incidental, special, consequential, or punitive damages, including but not limited to loss of profits, loss of data, loss of goodwill, business interruption, loss of business opportunities, penalties, fines, or interest levied by tax authorities, or any other financial loss arising from the use or inability to use our services, even if we have been advised of the possibility of such damages. We are not liable for delays, errors, rejections, adverse orders, or adverse outcomes caused by government tax authorities, regulatory bodies, or third-party service providers, or arising from inaccurate, incomplete, or misleading information provided by you. Our liability is limited to direct damages only.

• Aggregate liability limited to the professional fees paid for the specific Tax Audit service in the preceding 12 months
• No liability for indirect, incidental, special, consequential, or punitive damages of any kind
• No liability for loss of profits, data, goodwill, business opportunities, penalties, fines, or interest levied by tax authorities
• Not liable for delays, errors, or adverse outcomes caused by government tax authorities or third-party service providers
• Not liable for losses arising from inaccurate, incomplete, or misleading information provided by you
• No liability for service interruptions due to force majeure events including acts of God, natural disasters, or government actions
• Nothing in these Terms excludes liability for death or personal injury caused by our negligence or for fraud or fraudulent misrepresentation

Either party may terminate the service engagement by providing not less than 15 days' prior written notice to the other party. Bizeneed may immediately suspend or terminate the engagement without prior notice if you breach these Terms, fail to make payments when due, provide false, misleading, or inaccurate information, or engage in any activities that harm our business interests or violate applicable law. Upon termination, all outstanding fees and charges for services rendered up to the date of termination become immediately due and payable. We shall make reasonable efforts to deliver completed work product or, if applicable, provide transition assistance. Access to the Platform and associated services shall be suspended upon termination. Provisions of these Terms that by their nature should survive termination - including confidentiality, limitation of liability, dispute resolution, and intellectual property - shall remain in full force and effect.

• Either party may terminate with not less than 15 days' prior written notice
• We may immediately suspend or terminate for breach of Terms, non-payment beyond 15 days, or fraudulent activity
• All outstanding fees and charges for services rendered become immediately due and payable upon termination
• Completed work product will be delivered where possible upon termination
• Access to the Platform and associated services will be suspended upon termination
• Provisions relating to confidentiality, liability, dispute resolution, and intellectual property survive termination

Any dispute, controversy, or claim arising out of or relating to these Terms, or the breach, termination, or invalidity thereof, shall first be attempted to be resolved through good-faith negotiations between the parties for a period of 30 days. If the dispute cannot be resolved through negotiation, it shall be referred to arbitration under the Arbitration and Conciliation Act, 1996. The arbitration shall be conducted by a sole arbitrator appointed by mutual consent of both parties. If the parties are unable to agree on the arbitrator within 30 days, the arbitrator shall be appointed by the New Delhi International Arbitration Centre (BIAC) or such other institution as may be agreed upon. The seat of arbitration shall be New Delhi, Delhi, India, and the language of arbitration shall be English. The arbitration award shall be final and binding on both parties. The costs of arbitration shall be borne as determined by the arbitrator. Nothing in this clause shall prevent either party from seeking urgent interim or injunctive relief from a court of competent jurisdiction. The courts in New Delhi, Delhi, India shall have exclusive jurisdiction for the purpose of appointing the arbitrator and for granting interim relief.

• Disputes shall first be attempted to be resolved through good-faith negotiations for 30 days
• Unresolved disputes shall be referred to arbitration under the Arbitration and Conciliation Act, 1996
• Arbitration shall be conducted by a sole arbitrator appointed by mutual consent of both parties
• If parties cannot agree on an arbitrator within 30 days, it shall be appointed by BIAC or a mutually agreed institution
• Seat of arbitration: New Delhi, Delhi, India; Language of arbitration: English
• The arbitration award shall be final and binding on both parties
• Either party may seek urgent interim or injunctive relief from a court of competent jurisdiction in New Delhi

If you have any questions, concerns, or feedback regarding these Terms and Conditions for Tax Audit services, please do not hesitate to contact us. Our team is available to address any queries or clarifications you may need regarding the terms and conditions governing your Tax Audit engagement. For service-related questions, document-related queries, or status updates on your tax audit engagement, please reach out through our contact channels. For legal and compliance-related matters, please use the dedicated email address below. We strive to respond to all inquiries within a reasonable timeframe and in accordance with applicable consumer protection laws.

• Email: legal@bizeneed.in - for legal, compliance, and terms-related inquiries
• Email: support@bizeneed.in - for general support, service queries, and tax audit status updates
• Registered Office: Bizeneed India Private Limited, New Delhi, Delhi, India
• Grievance Officer: grievance@bizeneed.in - for complaints and dispute resolution
• Response time: We aim to respond to all inquiries within 2-3 business days