CA Pradeep Kumar

Changes made in Tax Audit Report

Assessment Year 2014-15

As amended by Notification No. 33 dated 25th July 2014 wef 25.07.2014

Sr. No. Particulars Old Report New Report – Changes are reflected by Bold Letters
FORM NO. 3CA  3. In * my/our opinion and to the best of * my/our information and according to explanations given to * me/us, the particularsgiven in the said Form No. 3CD and the Annexure thereto are true and correct.  3. In * my/our opinion and to the best of * my/our information and according to explanations given to * me/us, the particularsgiven in the said Form No. 3CD and the Annexure thereto are true and correct subject to the following observations/qualifications, if any:
FORM NO. 3CB  5. In * my/our opinion and to the best of * my/our information and according to explanations given to * me/us, the particularsgiven in the said Form No. 3CD and the Annexure thereto are true and correct.  5. In * my/our opinion and to the best of * my/our information and according to explanations given to * me/us, the particularsgiven in the said Form No. 3CD and the Annexure thereto are true and correct subject to the following observations/qualifications, if any:
FORM NO. 3CD – PART A  4. Whether the assessee is liable to pay indirect tax like excise duty, service tax, sales tax, customs duty,etc. if yes, please furnish the registration number or any other identification number allotted for the same.
FORM NO. 3CD – PART A  8. Indicate the relevant clause of section 44AB under which the audit has been conducted.
FORM NO. 3CD – PART B  9. (a) Whether books of account are prescribed under section 44AA, if yes, list of books so prescribed.

(b) Books of account maintained.

(In case books of account are maintained in a computer system, mention the books of account generated by such computer system.)

(c) List of books of account examined.

 11. (a) Whether books of account are prescribed under section 44AA, if yes, list of books so prescribed.(b) List of books of account maintained and the address at which the books of accounts are kept.

(In case books of account are maintained in a computer

system, mention the books of account generated by such

computer system. If the books of accounts are not kept at one location, please furnish the addresses of locations along with the details of books of accounts maintained at each location.)

(c) List of books of account and nature of relevant documents examined.

FORM NO. 3CD – PART B  10. Whether the profit and loss account includes any profits and gains assessable on presumptive basis, if yes, indicate the amount and the relevant sections (44AD, 44AE, 44AF, 44B, 44BB, 44BBA, 44BBB or any other relevant section).
 12. Whether the profit and loss account includes any profits and gains assessable on presumptive basis, if yes, indicate the amount and the relevant sections (44AD, 44AE, 44AF, 44B, 44BB, 44BBA, 44BBB, Chapter XII-G, First Schedule or any other relevant section).
FORM NO. 3CD – PART B

 7. Where any land or building or both is transferred during the previous year for a consideration less than value adopted or assessed or assessable by any authority of a State Government referred to in section 43CA or 50C, please furnish:

A. Details of property

B. Consideration received or accrued.

C. Value adopted or assessed or assessable.

FORM NO. 3CD – PART B  15. Amounts admissible under sections -(a) 33AB

(b) 33ABA

(c) 33AC (wherever applicable)

(d) 35

(e) 35ABB

(f) 35AC

(g) 35CCA

(h) 35CCB

(i) 35D

(j) 35DD

(k) 35DDA

(l) 35E:-

(a) debited to the profit and loss account (showing the amount debited and deduction allowable under each

section separately);

(b) not debited to the profit and loss account.

 

 15. Amounts admissible under sections –32AC

33AB

33ABA

33AC Omitted

35(1)(i)

35(1)(ii)

35(1)(iia)

35(1)(iii)

35(1)(iv)

35(2AA)

35(2AB)

35ABB

35AC

35AD

35CCA

35CCB

35CCC

35CCD

35D

35DD

35DDA

35E

FORM NO. 3CD – PART B  16(b) Any sum received from employees towards contributions to any provident fund or superannuation fund or any other fund mentioned in section 2(24)(x); and due date for payment and the actual date of payment to the concerned authorities under section 36(1)(va).
 20(b) Detail of contributions received from employees   for various funds as referred to in section 36(1)(va).
FORM NO. 3CD – PART B (f) amounts inadmissible under section 40(a);  21 (b) Amounts inadmissible under section 40(a):-(i)           As payment to non-resident referred to in sub-clause (i)

(A)                Detail of payment on which tax is not deducted:

(I) Date of payment

(II)  Amount of payment

(III) Nature of payment

(IV) Name and address of the payee

(B)  Detail of payment on which tax has been deducted but has not been paid during the previous year or in the subsequent year before the expiry of time prescribed under section 200(1)

(I)   Date of payment

(II) Amount of payment

(III) Nature of payment

(IV) Name and address of the payee

(V)  Amount of tax deducted

(ii) As payment to non-resident referred to in sub-clause (ia)

(A) Detail of payment on which tax is not deducted:

(I)   Date of payment

(II) Amount of payment

(III) Nature of payment

(IV)Name and address of the payee

(B) Detail of payment on which tax has been deducted but has not been paid on or before the due date specified in sub-section (1) of section 139.

(I)  Date of payment

(II) Amount of payment

(III) Nature of payment

(IV) Name and address of the payee

(V) Amount of tax deducted

(V)Amount out of (V) deposited, if any

(iii) Under sub-clause (ic) [Wherever applicable]

(iv) Under sub-clause(iia)

(v) Under sub-clause(iib)

(vi) Under sub-clause(iii)

(I) Date of payment

(II) Nature of payment

(III)Name and address of the payee

(vii) Under sub-clause(iv)

(viii)Under sub-clause(v)

FORM NO. 3CD – PART B 17(h) (A) whether a certificate has been obtained from the

assessee regarding payments relating to any expenditure

covered under section 40A(3) that the payments were

made by account payee cheques drawn on a bank or

account payee bank draft, as the case may be;

Yes No

(B) amount inadmissible under section 40A(3), read with

rule 6DD [with break-up of inadmissible amounts;

 21(d) Disallowance/deemed income under section 40A(3)

(A) On the basis of the examination of books of account and other relevant documents/evidence, whether the expenditure covered under section 40A(3) read with rule 6DD were made by account payee cheque drawn on a bank or account payee bank draft. If not, please furnish the details:

(B) On the basis of the examination of books of account and other relevant documents/evidence, whether the payment referred to in section 40A(3A) read with rule 6DD were made by account payee cheque drawn on a bank or account payee bank draft. If not, please furnish the details of amount deemed to be the profits and gains of business or profession under section 40A(3A);

FORM NO. 3CD – PART B

 19. Amounts deemed to be profits and gains under section 33AB or 33ABA or 33AC

 

 24. Amounts deemed to be profits and gains under section 32AC 33AB or 33ABA or 33AC.

FORM NO. 3CD – PART B  28. Whether during the previous year the assessee has received any property, being share of a company not being a company in which the public are substantially interested, without consideration or for inadequate consideration as referred to in section 56(2)(viia), if yes, please furnish the details of the same.
FORM NO. 3CD – PART B 29. Whether during the previous year the assessee received any consideration for issue of shares which exceeds the fair market value of the shares as referred to in section 56(2)(viib), if yes, please furnish the details of the same.
FORM NO. 3CD – PART B

 24(c) Whether a certificate has been obtained from the assessee regarding taking or accepting loan or deposit, or repayment of the same through an account payee cheque or an account payee bank draft.

Yes No

The particulars (i) to (iv) at (b) and the Certificate at (c) above need not be given in the case of a repayment of any loan or deposit taken or accepted from Government, Government company, banking company or a corporation established by a Central, State or Provincial Act;

 31(c) Whether the taking or accepting loan or deposit, or repayment of the same were made account payee cheque drawn on a bank or account payee bank draft based on the examination of books of account and other relevant documents

The particulars (i) to (iv) at (b) and comment at (c) above need not be given in the case of a repayment of any loan or deposit taken or accepted from Government, Government company, banking company or a corporation established by a Central, State or Provincial Act;

FORM NO. 3CD – PART B  32(c) Whether the assessee has incurred any speculation loss referred to in section 73 during the previous year, If yes, please furnish the details of the same.
FORM NO. 3CD – PART B  32(d) whether the assessee has incurred any loss referred to in section 73A in respect of any specified business during the previous year, if yes, please furnish details of the same.  
FORM NO. 3CD – PART B  32(e) In case of a company, please state that whether the company is deemed to be carrying on a speculation business as referred in explanation to section 73, if yes, please furnish the details of speculation loss if any incurred during the previous year.
FORM NO. 3CD – PART B  26. Section-wise details of deductions, if any, admissible under Chapter  33. Section-wise details of deductions, if any, admissible under ChapterVIA or Chapter III (Section 10A, Section 10AA).
FORM NO. 3CD – PART B  27. (a) Whether the assessee has complied with the provisions ofChapter XVII-B regarding deduction of tax at source and regarding the payment thereof to the credit of the Central Government.

Yes No

(b) If the provisions of Chapter XVII-B have not been complied with, please give the following details*, namely:-

Amount

(i) Tax deductible and not deducted at all

(ii) shortfall on account of lesser deduction than required to be deducted

(iii) tax deducted late

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Printed From

(iv) tax deducted but not paid to the credit of the Central Government

*Please give the details of cases covered in (i) to (iv) above.

 34(a). Whether the assessee is required to deduct or collect tax as per the provisions of Chapter XVII-B or Chapter XVII-BB, if yes please furnish details.

(b) Whether the assessee has furnished the statement of tax deducted or tax collected within the prescribed time. If not, please furnish the details.

(c) Whether the assessee is liable to pay interest under section 201(1A) or section 206C(7). If yes, please furnish details.

FORM NO. 3CD – PART B

 29. In the case of a domestic company, details of tax on distributed

profits under section 115-O in the following form :—

(a) total amount of distributed profits;

(b) total tax paid thereon;

(c) dates of payment with amounts.

 36. In the case of a domestic company, details of tax on distributedprofits under section 115-O in the following form :—

(a)total amount of distributed profits;

(b)amount of reduction as referred to in section 115-O(1A)(i)

(c)  amount of reduction as referred to in section 115-O(1A)(ii)

(d)total tax paid thereon;

(e)  date of payment with amounts.

FORM NO. 3CD – PART B  

30. Whether any cost audit was carried out, if yes, enclose a copy of

the report of such audit [See section 139(9)].

 

37. Whether any cost audit was carried out, if yes, give the details, if any, of disqualification or disagreement on any matter/item/quantity as may be reported/identified by the auditor.

 

FORM NO. 3CD – PART B

31. Whether any audit was conducted under the Central Excise Act, 1944, if yes, enclose a copy of the report of such audit.

 38. Whether any audit was conducted under the Central Excise Act, 1944, if yes, give the details, if any, of disqualification or disagreement on any matter/item/quantity as may be reported/identified by the auditor.

FORM NO. 3CD – PART B

 39. Whether any audit was conducted under section 72A of the Finance Act, 1994 in relation to valuation of taxable services, if yes, give the details, if any, of disqualification or disagreement on any matter/item/quantity as may be reported/identified by the auditor.

FORM NO. 3CD – PART B  41. Please furnish the details of demand raised or refund issued during the previous year under any tax laws other than Income Tax Act, 1961 and Wealth Tax Act, 1957 alongwith details of relevant proceedings.

(The author, Pardeep Kumar, is a Chartered Accountant from Rohtak, Haryana. He can be reached at pardeep.kumar2@escorts.co.in)

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