Income Tax Audit working sheet in Excel Format

Income tax Audit working sheet in Excel Format contains following checklist with relevant formats related to Tax Audit Income Tax, 1961-

Audit Notes

Check Opening balances

Tally Turnover With GST

Tally ITC with GST

Tally ITC balance with GST Portal

Compare GST2A with Books for ITC availed

Verify the Provisions or expenses made, if any

Verify the cash book for more than 10000 payments, if any

Vouching – Sales, Purchase, Expenditure, other

Verify GP Ratio and NP Ratio and Stock turnover Ratio and ask for major variance

Verify the TDS Deduction Requirement, If any

Verify any payments made to Relative

Verify Partner’s Remuneration Working

Depreciation Working

Ask for Fixed Assets purchase bills, and verify the date of purchase If any

Verify the cash book for negative balance, if any

Ask for Sundry Debtor Creditors Ledgers confirmation

Verify the Section 43(b) Requirement

PF and ESIC Payment date

Verify any loan or deposit accepted for mode other than banking channel

Tally All the banks balance ask for Reconciliation, If any

Ask for all the loan statements – ask for reconciliation, if any

Verify 26AS, AIS and TIS

Other Remarks and Calculation (Blank Sheet)