tax auditor

Disqualifications as Tax Auditor under section 44AB – Income Tax Act

Income Tax - Explore disqualifications outlined in Income Tax Act for tax auditors in India, ensuring integrity and transparency in financial governance...

Understanding Clause 44 of Tax Audit Report (Form 3CD)

Income Tax - Explore details of Clause 44 in Tax Audit Report (Form 3CD) and its GST reporting requirements. Learn how to fill out this crucial section for accurate tax compliance....

Section 44AB of Income Tax Act – Tax Audit

Income Tax - Broadly speaking, a ‘tax audit’ is a method to verify the correctness of books of accounts prepared by the taxpayer. It ensures that books of accounts and other records are duly maintained and, accordingly, income of the taxpayer is correctly computed. It also enables keeping a check on fraudulent practices. Notably, tax audit under s...

Clause 44 of Tax Audit Report – Breakup of Expenses with & without GST

Income Tax - Purchase and capital expenditures are required to be reported under clause 44 of Tax Audit report as both falls under expenditure terminology...

Applicability of Clause 44 for disclosure of Expenditures w.r.t GST in Form No. 3CD

Income Tax - Reporting under clause 44 of Form 3CD of Income Tax Audit Report  ♦ Total amount of Expenditure incurred during the year. ♦ Expenditure in respect of entities registered under GST: a) Relating to goods or services exempt from GST. b) Relating to entities falling under composition scheme c) Relating to other registered entities d) Tot...

Over 30 Lakh Audit Reports Filed: Income Tax Department’s E-filing Success

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, ensuring timely compliance....

Request to allows CMAs to conduct Tax Audit under Income Tax Act, 1961

Income Tax - Proposing the inclusion of Cost and Management Accountants under Section 288(2) of the Income Tax Act to enhance tax audits and promote voluntary compliance in India....

Draft Revised ‘Guidance Note on Tax Audit under section 44AB

Income Tax - Exposure Draft of Revised ‘Guidance Note on Tax Audit under section 44AB of Income-tax Act, 1961’ is issued by ICAI Direct Taxes Committee. ...

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...

13 Reasons why due date of ITR & Tax Audit should be extended- Representation

Income Tax - Representation for extension of Due date of Income Tax Returns And Audit Report For A.Y. 2021-2022 (F.Y.  2020-2021. It is requested that The due date of furnishing of Return of Income for the Assessment Year 2021-22, should be extended to 28th February, 2022....

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...

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. ...

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. ...

Tax Audit Due Date Extension: Gujarat HC disposes writ as not pressed

All Gujarat federation of tax Consultants Vs Union of India (Gujarat High Court) - All Gujarat Federation of Tax Consultants Vs Union of India (Gujarat High Court) 11.10.2018–  It is an agreed position that subsequent to filing of these petitions, CBDT has granted extension for filing returns and accompanying documents. In that view of the matter, learned counsel for the pe...

PIL in Kerala HC for 3 Month extension of Tax Audit Due Date

Plywood and Allied Products Dealers Association Of India Vs. UOI & Ors (Kerala High Court) - Plywood and Allied Products Dealers Association of India Vs. UOI & Ors (Kerala High Court) The Petitioner is an association of plywood and allied product dealers and the 2nd petitioner is a member of that  association, they have filing  Public Interest Litgation praying for a general Order...

CBDT notifies extended Due dates of Return & Tax Audit Report for A.Y.2020-21

Notification No. 88/2020-CBDT [S.O. 3906(E)] - (29/10/2020) - CBDT issued Notification No. 88/2020 and extended Due dates of Income Tax Return and Tax Audit Report as follows:- A. Income Tax Return FY 2019-20/AY 2020-21 i. Without tax audit –31.12.20 ii. TP, tax audit & tax audit firm partners– 31.01.21 B. Various audit reports (tax audit, transfer pri...

Due date of furnishing of ITR & Tax Audit Reports extended

Release ID: 1667281 - (24/10/2020) - The due date for furnishing of Income Tax Returns for the taxpayers (including their partners) who are required to get their accounts audited [for whom the due date (i.e. before the extension by the said notification) as per the Act is 31st October, 2020] has been extended to 31st January, 2021....

TAR/ ITR Due date extended for J&K & Ladakh to 31st March 2020

F. No. 225/306/2019-ITA- II - (23/03/2020) - CBDT further extends the ‘due-date’ for filing of Income-tax Returns/Tax Audit Reports for the Assessment year 2019-20 as specified in section 139 (1) of the Act to 31st March, 2020 in the Union Territory of Jammu  and Kashmir and Union Territory of Ladakh. F. No. 225/306/2019-ITA- II Governmen...

Due date for Audit/ITR Filing extended for J&K & Ladakh

F. No. 225/306/2019-ITA-11 - (24/12/2019) - Order u/s 119 of the Income-tax Act, 1961 for Extension of due date for filing of Income-tax Returns/Tax Audit Reports to 31st January, 2020 in respect of Union Territory of Jammu and Kashmir and Union Territory of Ladakh. F. No. 225/306/2019-ITA-11 Government of India Ministry of Finance Department...

TAR/ ITR Due date extended for J&K & Ladakh to 30th Nov 2019

F.No. 225/306/2019-ITA-II - (31/10/2019) - Extension of due date for filing of Income-tax Returns (ITR)/Tax Audit Reports (TAR) to 30th November, 2019 in respect of Union Territory of Jammu and Kashmir and Union Territory of Ladakh F.No. 225/306/2019-ITA-II Government of India Ministry of Finance Department of Revenue Central Board of Direct...

Recent Posts in "tax auditor"

Over 30 Lakh Audit Reports Filed: Income Tax Department’s E-filing Success

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, ensuring timely compliance....

Posted Under: Income Tax |

Disqualifications as Tax Auditor under section 44AB – Income Tax Act

Explore disqualifications outlined in Income Tax Act for tax auditors in India, ensuring integrity and transparency in financial governance...

Posted Under: Income Tax |

Understanding Clause 44 of Tax Audit Report (Form 3CD)

Explore details of Clause 44 in Tax Audit Report (Form 3CD) and its GST reporting requirements. Learn how to fill out this crucial section for accurate tax compliance....

Posted Under: Income Tax |

Request to allows CMAs to conduct Tax Audit under Income Tax Act, 1961

Proposing the inclusion of Cost and Management Accountants under Section 288(2) of the Income Tax Act to enhance tax audits and promote voluntary compliance in India....

Posted Under: Income Tax | ,

Draft Revised ‘Guidance Note on Tax Audit under section 44AB

Exposure Draft of Revised ‘Guidance Note on Tax Audit under section 44AB of Income-tax Act, 1961’ is issued by ICAI Direct Taxes Committee. ...

Posted Under: Income Tax |

Income Tax Audit working sheet in Excel Format

Income tax Audit working sheet in Excel Format contains following checklist with relevant formats related to Tax Audit Income Tax, 1961- Audit Notes Check Opening balances Tally Turnover With GST Tally ITC with GST Tally ITC balance with GST Portal Compare GST2A with Books for ITC availed Verify the Provisions or expenses made, if any [&h...

Posted Under: Income Tax |

Section 44AB of Income Tax Act – Tax Audit

Broadly speaking, a ‘tax audit’ is a method to verify the correctness of books of accounts prepared by the taxpayer. It ensures that books of accounts and other records are duly maintained and, accordingly, income of the taxpayer is correctly computed. It also enables keeping a check on fraudulent practices. Notably, tax audit under s...

Posted Under: Income Tax | ,

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

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

Posted Under: Income Tax | ,

Clause 44 of Tax Audit Report – Breakup of Expenses with & without GST

Purchase and capital expenditures are required to be reported under clause 44 of Tax Audit report as both falls under expenditure terminology...

Posted Under: Income Tax | ,

Applicability of Clause 44 for disclosure of Expenditures w.r.t GST in Form No. 3CD

Reporting under clause 44 of Form 3CD of Income Tax Audit Report  ♦ Total amount of Expenditure incurred during the year. ♦ Expenditure in respect of entities registered under GST: a) Relating to goods or services exempt from GST. b) Relating to entities falling under composition scheme c) Relating to other registered entities d) Tot...

Posted Under: Income Tax |

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