tax auditor articles

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: CA, CS, CMA |

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: CA, CS, CMA |

Section 44AB of Income Tax Act – Tax Audit

Tax audit procedure under Section 44AB of the Income Tax Act explained simply. Taxpayers need to appoint a Chartered Accountant to comply with 44AB provisions. Learn details with our analysis....

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...

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: CA, CS, CMA |

Decoding of Clause 44 of Tax Audit Report (3CD)

Cause 44 of form 3CD requires Total amount of expenditure incurred during the year, Expenditure in respect of entities registered under GST, Expenditure related to entities not registered under GST...

Applicability of Tax Audit under section 44AB

Here, in this article I have made an attempt to solve the practical issues that are arising to the Tax Professionals in day to day practice (by decoding Income Tax Act Sec. 44AB along with 44AA, 44AD, 44ADA & 44AE). This article mainly focuses on Individual & HUF assessees....

Posted Under: CA, CS, CMA |

Increase in turnover limit for Tax audit applicability- whether free from complexity?

Increase in turnover limit for Tax audit applicability whether free from complexity? What are the twists involved in it? Turnover limit for tax audit increased to Rs.10.00 crores. Whether beneficial provision? What are the twists involved in it? Let us try to understand the complexity involved it the said provision and things to be taken ...

Posted Under: CA, CS, CMA |

Amendments in Tax Audit Report for AY 2021-22

Purpose of Rule 6G: This rule tells about the name of the forms applicable in the case of 44AB Audit and from 1st April 2021 sub-rule (3) is inserted. Rule 6G: (1) The report of audit of the accounts of a person required to be furnished under section 44AB shall,— (a) In the case of […]...

Posted Under: CA, CS, CMA |

Contradiction between Dates in Form 3CD & dates for submission of Audit Reports

Clauses of Form 3CD which can’t be answered while submitting it by 30th November 2020 The Income Tax Act has been amended by the Finance Act 2020 and further amended by The Taxation And Other Laws (Relaxation And Amendment Of Certain Provisions) Act, 2020 to provide certain restrictions and/or relaxations in the existing provisions and ...

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