Direct Taxes Committee (DTC)
The Institute of Chartered Accountants of India
5th July 2022

Sub: Exposure Draft of Revised ‘Guidance Note on Tax Audit under section 44AB of the Income-tax Act, 1961’ for Public Comments

The Exposure Draft of Revised ‘Guidance Note on Tax Audit under section 44AB of the Income-tax Act, 1961’, has been issued by the Direct Taxes Committee for comments. The Exposure Draft can be accessed at the link https://resource.cdn.icai.org/70897dtc56864ed.pdf

The DTC has decided to issue guidance note on tax audit for each assessment year separately.

This Guidance Note is for the audits to be conducted for Assessment Year 2022-23. Therefore, law relevant to this year has been discussed. This has helped in containing size of the Guidance Note.

If you desire to supplement any point with any latest case law of any High Court or the Supreme Court. Any other suggestion for improvement is welcome.

The comments on the above mentioned Exposure Draft may be sent in the following format at [email protected] latest by July 20, 2022.

Page no. Clause no. Para no. Existing content Revised content Reasons for Change

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0 Comments

  1. B S K RAO says:

    I ALSO SUGGEST ICAI (FINANCIALS) TO INCORPORATE IN GUIDANCE NOTE THAT AUDIT UNDER 2ND PROVISO TO SECTION 44AB OF INCOME-TAX ACT BE KEPT OUTSIDE THE CEILING FIXED. IN FACT TILL MANDATING OF TAR TO BE UPLOADED, WE NON-CAS WERE SOME HOW MANAGING THE WRONGFUL ACTIONS.

  2. B S K RAO says:

    CA CONDUCTING TAX AUDIT FOR REVENUE CAN NOT APPEAR FOR THE SAME CLIENT IN SCRUTINY PROCEEDINGS. I SUGGEST ICAI (FINANCIALS) TO INCORPORATE THE SAME IN GUIDANCE NOTE ISSUED FOR TAX AUDIT TO WIN THE CONFIDENCE OF PUBLIC & ALSO TO UP HOLD TRANSPARENCY

  3. B S K RAO says:

    RECENTLY DIT (SYSTEMS) GAVE REPLY TO RTI APPLICATION SEEKING SECTION WISE WRONG CLAIMS IN TAX AUDIT REPORT UPLOADED FOR ASSET. YEAR 2013-14 AS UNDER:-

    NO SUCH DATA HAS BEEN CAPTURED IN THE SYSTEMS DIRECTORATE AS SECTION WISE WRONG CLAIMS REPORTED IN TAX AUDIT REPORT FROM NO.3CD AND TOTAL AMOUNT INVOLVED IN VIOLATION OF PROVISIONS OF INCOME-TAX LAW REPORTED IN EACH COLUMN NO.17,21,23,24 & 27 OF TAX AUDIT REPORT FORM NO.3CD. ACCORDINGLY THIS IS NOT INFORMATION AS PER SECTION 2(1) OF RTI ACT, 2005 AND THUS CAN NOT BE PROVIDED.

    WHY ABOVE SITUATION IN SPITE OF ICAI MEMBERS FOLLOWING THE GUIDANCE NOTE ?

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