CA Agarwal Sanjay ‘Voice of CA’ CA Sidharth Jain
Legislative Intention & Objective
o Inserted By Finance Act 1984
o Ensure proper maintenance of books of accounts and other records
o Facilitation of proper administration of tax laws.
o Assistance to Tax officers
o Opportunity to Professionals (only CA’s)
Applicability with Respect to Certain Assessee’s
o Section 44AB
o Applicability to 44AD cases
o Applicabilty to 12A Trusts, section 10 assessee, ICAI view, contra view by ITAT Bombay in Asstt. CIT v. India Magnum Fund  81 ITD 295 (Mum.),
o Applicability to Agriculturist etc.
3CA & 3CB COMMON ISSUES
1. Statutory Auditors to separately disclose reliance on Branch Auditor
“I/We have taken into consideration the audit report and the audited statements of accounts, and the statement of particulars in Form No. 3CD received from the auditors, duly appointed under the relevant law, of the branches not audited by me/us”.
2. Branches out side India not Audited by Tax auditor
To obtain information required by form 3CD FROM “Assessee”, who would obtain the same from overseas auditor, who has audited a/cs of foreign branch.
“I/We have taken into consideration the audit report and the audited statements of accounts, and particulars received from the auditors, appointed under the relevant law, of the overseas branches not audited by me/us”.
3. F. Note no. 3 of form 3CA, “Where any of the requirements in this Form is answered in negative or with qualification, give reasons thereof”
4. Proper Signature [F.Note no.4]
Authority under which signing
ICAI Membership No. of Member
Firm Registration No.
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