2 Tax Audit Report

Tax Audit Report

Section 269SS & 269T (Clause 31 TAR Form 3CD) Info Collection Excel Sheet

Income Tax - The section 269SS and 269T of the Income Tax Act, 1961 prohibits acceptance / repayment of loan, deposit, specified sum etc. otherwise than by an account payee cheque, account payee bank draft, ECS through bank account etc. The violation of the above provisions may attract stringent penalty under section 271D and 271E respectively. The cl...

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Tax Audit Report (TAR) + Accounting Standards (AS) in India

Income Tax - (A) Obligations for preparing of information’s by taxpayer + auditing by auditor 1. Applicability of TAR (i) On taxpayer as carrying a business + having total sale + turnover + gross receipt (all together) are exceeding 1 crore in previous year under section 44AB of Income Tax Act (ITA), 1961 (ii) On taxpayer as carrying […]...

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FAQs on Clause 44 of FORM 3CD

Income Tax - If an assessee is not registered in GST (exclusively engaged in making exempt supply) , does clause 44 of Form 3CD Report apply or not?...

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All about Clause 44 of FORM 3CD of Tax Audit Report

Income Tax - Now a days, Clause 44 of 3CD become ‘Buzz word’ for every professional. Everyone is doing its interpretation considering the aspect of reconciliation with indirect tax records. Form 3CD of Tax Audit Report (TAR) was amended in July 2018 by Notification No. 33/2018 dated 20.07.2018  to incorporate the Clause 44 on reporting o...

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Analysis of Clause 44 of Tax Audit Report in Form 3CD

Income Tax - History of Clause 44 of Form 3CD (Tax Audit Report) Income Tax notification No. 33/2018 dated 20th July 2018 came into force on 20th August 2018 Any tax audit report which was required to be filed on or after 20.08.2018 requires reporting of total expenditure as per clause 44 of the Form 3CD. Deferred the […]...

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Representation to extend due date of filing of Income Tax Audit reports

Income Tax - Representation to extend the due date of filing of Audit reports under Income Tax Act, 1961, from 30th September, 2022 to 31st October, 2022. Please Read: CBDT extends due date for filing various Income Tax Audit reports  ALL INDIA FEDERATION OF TAX PRACTITIONERS Dated: September 19,2022 To, 1. Smt. Nirmala Sitharaman Ji, The Honorable U...

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Income Tax Audit Clinic

Income Tax - Members may to raise any issues related to Tax Audit where elucidation, clarification or further elucidation is desired at email id taxauditclinic@icai.in...

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Abolish requirements of reporting under Clause 44 of Tax Audit Report: CASS

Income Tax - Representation to CBDT on information sought from Tax Auditors under Clause 44 of Form 3CD and request to abolish this requirement...

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Guidance Note on Tax Audit under Section 44AB

Income Tax - ICAI Guidance Note on Tax Audit under Section 44AB of the Income-tax Act, 1961 AY 2022-23 (Effective for the AY 2022-23 and subject to amendments made by law, judiciary or administration, for the subsequent assessment years) Tax Audit is applicable since the year 1984. The provision of Section 44AB requires providing inputs useful for com...

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Representation to scrap Clause No. 44 of Tax Audit Report (Form 3CD)

Income Tax - Representation requesting to scrap  Clause No. 44 of  Tax Audit Report (Form 3CD) under the Income Tax Act, 1961...

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Tax Audit Report is a vital piece of evidence – ITAT admit additional evidence

Anil Kumar Jain Vs ADIT (ITAT Chandigarh) - Tax Audit Report is a vital piece of evidence which goes to very root of matter and should be admitted for furtherance of cause of justice....

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Due Date Extension Case- Extension denied, HC directs UOI to attend technical glitches on Portal – Penalty interest Issues considerable at Assessment Stage

Chartered Accountants Association, Surat Vs. Union Of India (Gujarat High Court) - Chartered Accountants Association, Surat Vs. Union Of India (Gujarat High Court)  HC refuses to Extend Due date of Filing The Tax Audit Report Mr. Poddar, the learned counsel made a request that the deadline of 15.01.2022 for the purpose of filing the audit report may be extended to 15.02.2022. We ...

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Interest u/s 234A despite due date extension: HC issue Notice to CBDT

Lucknow CA Tax Practitioners Association VS. UOI (Allahabad High Court) - Lucknow CA Tax Practitioners Association VS. UOI (Allahabad High Court) As far as prayer no.1 of the petitioner-association for issuance of a mandamus to the respondents to extend the “Due Date” of filing of Income Tax Return of Tax Audit Cases from 15.10.2018 to at least up to 31.10.201...

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Tax Audit Due Date Extension: FTAPs withdraws writ filed in Delhi HC

Foundation of Tax and Accounting Professionals Vs. CBDT (Delhi High Court) - Appellant Foundation of Tax and Accounting Professionals (FTAPs) has withdrawn the writ in view of Further extension of Tax Audit Due Date by CBDT to 31.10.2018. ...

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Consider Extending Tax Audit Due Date to 31.12.2018: Gauhati HC

Tax Bar Association And Anr. Vs. Union of India And Anr. (Gauhati High Court) - Gauhati High Court has instructed CBDT to Consider Representation filed by Tax Bar Association on or before 25.10.2018 by which they requested to extend the Tax Audit Due Date to 31.12.2018. ...

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CBDT extends due date for filing various Income Tax Audit reports

Circular No. 19/2022-Income Tax - (30/09/2022) - CBDT extends the due date for filing of various reports of audit for Assessment Year 2022-23 from 30th September, 2022 to 7th October, 2022 for certain categories of assessees. Circular No. 19/2022 dated 30.09.2022 issued. F. No. 225/49/2021/ITA-11 Government of India Ministry of Finance Department ...

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Income Tax Return, Tax Audit due date & Other dates extended

Circular No. 9 of 2021 - Income Tax - (20/05/2021) - The due date of furnishing of Return of Income for the Assessment Year 2021-22, which is 31st July 2021 under sub-section (1) of section 139 of the Act, is extended to 30th September 2021; 10) The due date of furnishing of Report of Audit under any provision of the Act for the Previous Year 2020-...

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New reporting requirements in Form 3CD & Revision

Notification No. 28/2021 [G.S.R. 246(E).] - (01/04/2021) - CBDT has vide Notification No. 28/2021-Income Tax inserted new clauses in Form 3CD (Tax Audit Report) and also notified that Tax Audit Report under Rule 6G can be revised if there is payment by Assessee after furnishing of report which necessitates recalculation of disallowance under section 40 or s...

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CBDT Defers GST & GAAR reporting till 31.03.2022

Circular No. 05/2021-Income Tax - (25/03/2021) - The Central Board of Direct Taxes (CBDT) deferred the Tax Audit Clause 30C and 44  till 31st Mar 2022 due to COVID-19. F.No. 370142/9/2018-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes TPL Division New Delhi **** Circular No. 05/2021, Dated 25th Mar...

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CBDT to validate ICAI UDIN during upload of Tax Audit Reports

Release ID: 1676103 - (26/11/2020) - The Institute of Chartered Accountants of India, in its gazette notification dated 2nd August, 2019, had made generation of UDIN from ICAI website www.icai.org mandatory for every kind of certificate/tax audit report and other attests made by their members as required by various regulators. This was...

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Recent Posts in "Tax Audit Report"

Tax Audit Report is a vital piece of evidence – ITAT admit additional evidence

Anil Kumar Jain Vs ADIT (ITAT Chandigarh)

Tax Audit Report is a vital piece of evidence which goes to very root of matter and should be admitted for furtherance of cause of justice....

Read More

Section 269SS & 269T (Clause 31 TAR Form 3CD) Info Collection Excel Sheet

The section 269SS and 269T of the Income Tax Act, 1961 prohibits acceptance / repayment of loan, deposit, specified sum etc. otherwise than by an account payee cheque, account payee bank draft, ECS through bank account etc. The violation of the above provisions may attract stringent penalty under section 271D and 271E respectively. The cl...

Read More
Posted Under: Income Tax |

CBDT extends due date for filing various Income Tax Audit reports

Circular No. 19/2022-Income Tax 30/09/2022

CBDT extends the due date for filing of various reports of audit for Assessment Year 2022-23 from 30th September, 2022 to 7th October, 2022 for certain categories of assessees. Circular No. 19/2022 dated 30.09.2022 issued. F. No. 225/49/2021/ITA-11 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes...

Read More

Representation to extend due date of filing of Income Tax Audit reports

Representation to extend the due date of filing of Audit reports under Income Tax Act, 1961, from 30th September, 2022 to 31st October, 2022. Please Read: CBDT extends due date for filing various Income Tax Audit reports  ALL INDIA FEDERATION OF TAX PRACTITIONERS Dated: September 19,2022 To, 1. Smt. Nirmala Sitharaman Ji, The Honorable U...

Read More
Posted Under: Income Tax | ,

Income Tax Audit Clinic

Members may to raise any issues related to Tax Audit where elucidation, clarification or further elucidation is desired at email id taxauditclinic@icai.in...

Read More
Posted Under: Income Tax |

Tax Audit Report (TAR) + Accounting Standards (AS) in India

(A) Obligations for preparing of information’s by taxpayer + auditing by auditor 1. Applicability of TAR (i) On taxpayer as carrying a business + having total sale + turnover + gross receipt (all together) are exceeding 1 crore in previous year under section 44AB of Income Tax Act (ITA), 1961 (ii) On taxpayer as carrying […]...

Read More
Posted Under: Income Tax |

FAQs on Clause 44 of FORM 3CD

If an assessee is not registered in GST (exclusively engaged in making exempt supply) , does clause 44 of Form 3CD Report apply or not?...

Read More
Posted Under: Income Tax | ,

All about Clause 44 of FORM 3CD of Tax Audit Report

Now a days, Clause 44 of 3CD become ‘Buzz word’ for every professional. Everyone is doing its interpretation considering the aspect of reconciliation with indirect tax records. Form 3CD of Tax Audit Report (TAR) was amended in July 2018 by Notification No. 33/2018 dated 20.07.2018  to incorporate the Clause 44 on reporting o...

Read More
Posted Under: Income Tax |

Analysis of Clause 44 of Tax Audit Report in Form 3CD

History of Clause 44 of Form 3CD (Tax Audit Report) Income Tax notification No. 33/2018 dated 20th July 2018 came into force on 20th August 2018 Any tax audit report which was required to be filed on or after 20.08.2018 requires reporting of total expenditure as per clause 44 of the Form 3CD. Deferred the […]...

Read More
Posted Under: Income Tax | ,

Clause 44 in Form 3CD under Section 44AB of Income Tax Act 1961 – FAQs

Clause 44 reporting viz. GST Details is applicable to taxpayers who are required to file tax audit reports in Form 3CA/3CB & 3CD u/s 44AB...

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Posted Under: Income Tax | ,

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