CAG - Page 2

Summary of Performance Audit on Income tax Search & Seizure Assessments

Report No.14 of 2020 – Performance Audit on Search and Seizure Assessments in Income Tax Department, Union Government, Department of Revenue – Direct Taxes Search and Seizure is a very powerful tool available to Income Tax Department to unearth any concealed income or valuables and to check the tendencies of tax evasion thereb...

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Posted Under: Income Tax |

Highlights of Compliance Audit of provisions of Income Tax Act, 1961

Report No.11 of 2020 – Compliance Audit of Union Government, Department of Revenue – Direct Taxes This Report primarily discuss compliance to the provisions of the Income Tax Act, 1961 and the associated rules, procedures, etc. as applied to all aspects related to the administration of direct taxes. Direct taxes receipts of Union ...

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Posted Under: Income Tax |

Regulations on Audit and Accounts (Amendments) 2020

F. No. 11-PPG/2020 20/08/2020

(1) These Regulations may be called Regulations on Audit and Accounts (Amendments) 2020 (2) They shall come into force on the date of issue....

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Shri Girish Chandra Murmu Takes over as C&AG of India

Shri Girish Chandra Murmu assumed office as the Comptroller and Auditor General of India here today. He belongs to Indian Administrative Service of Gujrat cadre (1985 batch). Shri Murmu succeeds Shri Rajiv Mehrishi, who demitted office on Friday. Prior to this, Shri Murmu was the first Lieutenant Governor of Union Territory of Jammu & Kas...

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Posted Under: Income Tax |

Empanelment of CA firms with CAG- Extension of the Last Date

Online Applications are invited from the Chartered Accountant firms/LLPs who desire to be empanelled with the office of the Comptroller and Auditor General of India for appointment as auditors of Government Companies/Corporations for the year 2016-2017. The online application format will be available on our website: www.saiindia.gov.in fr...

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Posted Under: Income Tax |

GST on Audit Services by CAG to Ports

CAG is one of the pivotal offices in the Government of India who controls the entire financial system of the country. The appointment of CAG is done by President of India under Article 148.  President of India is the Executive head of the Union of India.  Audit is conducted by CAG under section 18 of the Comptroller & Auditor General’...

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Posted Under: Income Tax |

First Audit Report of CAG on GST- Bring out all gaps / shortcomings

Report No.11 of 2019 – Compliance Audit of Union Government, Department of Revenue (Indirect Taxes – Goods and Services Tax) This is the first Audit Report of CAG on Goods and Services Tax (GST), prepared on the basis of audits conducted during the year 2018-19. The Report acknowledges the magnitude of the tax reform that [&hellip...

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Posted Under: Income Tax |

How to do Follow up of CAG Report- Department Guide

In this series, one of the important areas covered is CAG Reports. There is a general tendency to look at CAG Report as an additional burden but we have to understand that the CAG Report gives lots of insights in the functioning of the department and gives pointers to improve the system. ...

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Posted Under: Income Tax |

Highlights of CAG Report on Direct Tax for the year ended March 2017

During FY 2015-16, the ITD had completed 2.57 lakh scrutiny assessments in the units audited as per the audit plan of FY 2016-17, out of which we checked 2.39 lakh cases. Apart from this, we have also audited 0.30 lakh cases completed in the earlier financial years, during FY 2016-17. ...

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Posted Under: Income Tax |

Summary of CAG Report on Central Excise Tax for March 2017

Section 16 of CAG’s (DPC) Act, 1971 mandates CAG to audit receipts payable into the Consolidated Fund of India and to satisfy that the rules and procedures are designed to secure an effective check on the assessment...

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Posted Under: Income Tax |

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CA, CS, CMA (5,492)
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Excise Duty (4,492)
Fema / RBI (4,705)
Finance (4,986)
Income Tax (37,368)
SEBI (3,995)
Service Tax (3,720)

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