Tax Audit_Clausewise_ 26-8-16 By CA Sanjay Aggarwal on 1st September 2016 in EDSC

270 Pages·2016·2.58 MB·English

by  Davender Bhardwaj

Tax Audit
A.Y. 2016-17
U/S 44AB of Income Tax Act, 1961

[Guidance Note on Tax Audit (Revised 2014) issued by the ICAI]

Presented By: CA. Sanjay Kumar Agarwal
Assisted By : CA Apoorva Bhardwaj
Email ID: [email protected]
Contents…..
2
Tax Audit Report
→
Clause-wise analysis of Form No. 3CD
→
Procedure of E-filing of Tax Audit Report
→
Overview of Provisions of Section 44AB
→
Miscellaneous Issues
→
Tax Audit Report

Under Section 44AB r.w. Rule 6G
 Form 3CA/3CB
 Form 3CD

Report of audit u/s 44AB shall be furnished electronically
[Notification No. 34 /2013/ F.No.142/5/2013-TPL dated 1st
May, 2013] [Inserted by Income-tax (3rd Amendment) Rules,
2013]
Form No. 3CA/3CB- Rule 6G
4
Form 3CB
Form 3CA

Person other than those

In case of a person carrying

referred in Form 3CA.
business or profession whose
Person whose accounts are

accounts are required to be
required to be audited under
audited under any other law. any other law but whose
accounting year is different
from the financial year.
[Circular : No. 561, dated
22-5-1990]
Form 3CA
5
Audit Report under section 44AB of the Income Tax Act, 1961
in a case where the accounts of the business or profession of
a person have been audited under any other law.

{As amended by Notification No. 33/2014, F.No.133/1/2014-
TPL dated 25th July, 2014 [Inserted by Income-tax (7th
Amendment) Rules, 2014] }
Form 3CA…..
6
1. I/we report that the statutory audit of ___(Name & address of the assessee
with PAN)___ was conducted by me/us/ M/s. ……………………..………. in

pursuance of the provisions of the ……………………………. Act, and I/we annex
hereto a copy of my/our/their audit report dated …………………. along with a
copy of each of :-

(a) the audited profit & loss account/ income & expenditure account for
the period beginning from …………………… to ending on ……………………
(b) the audited balance sheet as at, …………………; and
(c) documents declared by the said Act to be part of, or annexed to, the
profit & loss account/ income & expenditure account and balance
sheet.
Contd….
Form 3CA…..
7
2. The statement of particulars required to be furnished under
section 44AB is annexed herewith in Form No. 3CD.

3. In my/our opinion and to the best of my/our information and
according to examination of books of account including other
relevant documents and explanations given to me/us, the
particulars given in the said Form No. 3CD are true and correct
subject to the following observations/ qualifications, if any:
a. ………
List provided in
b. ………
e-utility
c. ………
Note: Scope of Auditor increased
Contd….
Form 3CA…..
8
Select State
Note:
1. This report has to be signed by person eligible to sign the report as per the provisions of
section 44AB of the Income-tax Act, 1961
2. Stamp/ Seal of Signatory to Tax Audit Report required
Form 3CB
9
Audit Report under section 44AB of the Income Tax Act,
1961 in a case of a person referred to in clause (b) of
sub-rule (1) of Rule 6G.

{As amended by Notification No. 33/2014,
F.No.133/1/2014-TPL dated 25th July, 2014 [Inserted by
Income-tax (7th Amendment) Rules, 2014] }
Form 3CB…..
10
1. I/we have examined the balance sheet as on, …………, and the profit
& loss account/ income & expenditure account for the period
beginning from ……………..… to ending on …………., attached herewith,
of _(Name)_, _(Address)_, _(PAN)_.
2. I/we certify that the balance sheet and the profit & loss/ income &
expenditure account are in agreement with the books of account
maintained at the head office at ………… and …… branches.

Mention the total number
of branches