Special Economic Zones Mumbai Income Tax Audit Tender 2025 - Tax Advisory Onsite & IS 44AB Compliance

Tender Overview

Special Economic Zones in Mumbai (MAHARASHTRA 400002) invites bids for Income Tax Audit and related financial advisory services under Section 44AB of the Income Tax Act, 1961. The 1-year contract targets an estimated value of ₹75,000 with a clearly defined team composition and eligibility criteria. The engagement includes preparing and uploading the audit report on the Income Tax Department e-filing site within statutory timeframes, addressing post-audit revisions, and flagging critical observations to authorities. A notable contract feature allows a 25% variation in contract quantity or duration at issuance, requiring bidder acceptance of revised terms. The scope emphasizes timely delivery, compliance, and accountability, with Mumbai as the principal business location. Key differentiators include a need for a firm with established ICAI discipline, decadal existence, and C&AG empanelment.

Technical Specifications & Requirements

• Scope of Work: Income Tax Audit for the financial year under audit; draft and final Tax Audit Reports; rectify prior drafts; discuss material observations with the Authority.
• Audit Team: 1 Qualified Chartered Accountant, 2 Semi-Qualified Article Assistants, led by a senior partner.
• Selection Criteria: Contract value ~₹75,000; turnover ≥₹50 Lakhs averaged over 3 years; minimum 10 years existence per ICAI; C&AG empanelment; at least 3 years of tax audit experience in central/government bodies in last 10 years; 2 full-time partners and 2 qualified CAs; principal place of business in Mumbai.
• Payment Terms: Payment after submission of bill and satisfactory service; firm bears payroll liabilities for deployed personnel.

Terms, Conditions & Eligibility

• EMD: Not specified in data; confirm via official portal.
• Experience/Turnover: 3+ years tax audit experience in government/PSU sector; 3-year average turnover ≥₹50 Lakhs; existence for ≥10 years; C&AG empanelment required.
• Delivery: Timely filing and post-audit revisions as needed; no explicit delivery milestone beyond statutory timeframes.
• Location: Principal office must be in Mumbai; audit execution likely Mumbai-based.
• Payment: Net payment post-bill submission and satisfaction; employer bears personnel payment responsibilities.