Income Tax : Understand key reporting requirements for Tax Audit Reports under Sections 44AA and 44AB, including forms, clauses, and disclosure...
CA, CS, CMA : Find out who needs to file a Tax Audit Report by September 30. Learn about the criteria, deadlines, and penalties for non-complian...
Income Tax : Learn about tax audit under Section 44AB, including objectives, requirements, forms, and penalties for non-compliance....
Income Tax : Explore the distinctions between business and profession, and how sales, turnover, and gross receipts are defined under the Income...
Income Tax : CBDT updates Form 3CD for AY 2023-2024, including major amendments for tax audit reporting. Essential insights for professionals a...
Income Tax : More than 30.75 lakh audit reports, including 29.5 lakh Tax Audit Reports, were filed for AY 2023-24 by the September 30 deadline,...
Income Tax : Explore the latest 2023 revision of the ICAI's Guidance Note on Tax Audit under Section 44AB of the Income-tax Act, 1961. Learn ab...
Income Tax : Exposure Draft of Revised ‘Guidance Note on Tax Audit under section 44AB of Income-tax Act, 1961’ is issued by ICAI Direct Tax...
Income Tax : Representation to extend the due date of filing of Audit reports under Income Tax Act, 1961, from 30th September, 2022 to 31st Oct...
Income Tax : Members may to raise any issues related to Tax Audit where elucidation, clarification or further elucidation is desired at email i...
Income Tax : Allahabad High Court in the case of CIT vs. U P Hotels Pvt. Ltd. has held that in case assessee has not claimed any deduction in r...
Income Tax : Karnataka High Court grants another opportunity to C.T. Raghu to submit documents after his Tax Audit Report was rejected for unsi...
Income Tax : Discover how Chennai ITAT's verdict affects assessments. Learn how a typographical error in Form 3CD impacts additions to an asses...
Income Tax : ITAT Mumbai order on ITO vs. Sambhav Shelter, where books of account withstand scrutiny despite an inadvertent mistake in the tax ...
Income Tax : Analysis of the ITAT Ahmedabad's ruling on Bharatbhai Makwana Vs PCIT. Delving into the implications of incorrect terminologies in...
Income Tax : Stay updated with CBDT's Form 3CD Tax Audit Report Format, Form 3CEB & Form No. 65 revision. Learn about changes in tax audit rep...
Income Tax : CBDT extends the due date for filing of various reports of audit for Assessment Year 2022-23 from 30th September, 2022 to 7th Octo...
Income Tax : 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 s...
Income Tax : CBDT has vide Notification No. 28/2021-Income Tax inserted new clauses in Form 3CD (Tax Audit Report) and also notified that Tax A...
Income Tax : 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. 3701...
The era of extension needs to be stopped or else every year people will have a sure short confidence of extension which will make them delay there work and lazy. Rules are made bearing things in mind and not bearing extension in mind. Come on people lets follow Punctuality. The greatest gift of Shri. Late Mahatma Gandhi for Indians. And we, CA’s being finance partner of Government let make clients aware of there responsibilities.
1.It has been heard that many organisation has given representation to extend date of Tax Audit report under Income Tax Act till 31st October (including ICAI). 2.But we request you to consider following points and extend it till 30th November otherwise it will be a half hearted fruitless extension.
ICAI has further requested CBDT to extend time for submission of Tax Audit Reports and related returns from 30th September, 2018 to 31st October, 2018 as CBDT has not followed Norms of Earlier Years of discussing Important Changes in Tax Audit Report with ICAI, there was Constant changes in Utilities relating to Tax Audit Forms, […]
ICAI requests CBDT for extension of Due Date for submission of Tax Audit Reports and related Income Tax returns from 30th September, 2018 to 31st October, 2018. Read ICAI Representation on extension of Tax Audit Due Date, Dated: 17th September 2018 Read ICAI Representation on extension of Tax Audit Due Date, Dated: 10th September, 2018 […]
Tax Audit Report Form 3CA & Form 3CD in Excel format, along with the clause wise changes mentioned against each clause number as amended by Income Tax Notification No. 33/2018-Income Tax dated 20/07/2018 and Circular No. 6/2018 dated 17/08/2018.
Naturally As long as CA’s are number ONE, everybody will gun them. Being number one, the chartered accountants perfectly understand that many authorities are gunning on them though they are the partner to national building. Everyone is trying to latch Chartered accountants for third-party irregularity, noncompliance or fraud. A mania to create laws against the profession […]
All about Clause 26 of Form 3cd. 1. What does Clause 26 says:- In respect of any sum referred to in clause (a), (b), (c), (d), (e) or (f) of section 43B, the liability for which:- (A) Pre-existed on the first day of the previous year but was not allowed in the assessment of any […]
Implementation Guide w.r.t. Notification No. 33/2018 dated 20.07.2018 effective from 20.08.2018 – (23-08-2018) The Central Board of Direct Taxes, vide Notification No. 33/2018/F No. 370142/9/2018-TPL dated 20th July 2018, notified amendments to Form No. 3CD enhancing substantially the reporting requirements and the role of tax auditor as various new clauses/sub clauses have been inserted, major […]
It is submitted that Since Form 3CD (an annexure to Form 3CA) is merely verified by the tax auditor, it cannot be continually amended so as to stretch the role of the tax audit professional to that of an investigator who passes value judgments on matters like impermissible avoidance arrangements and income chargeable to tax under section 56(2)(x) of the Income-tax Act, 1961 (‘ITA’).
Discussion on Circular No. 6/2018 on Tax Audit Report for deferment of Clause 30C and 44 CBDT have issued a circular no. 6/2018 dated 17 August 2018 in relation to the Tax Audit Report to be furnished under section 44AB of the Income Tax Act, 1961 (‘the Act’) read with Rule 6G of the Income […]
