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Oct 26, 2021 · Form 3CA-3CD: Audit report under section 44AB of the Income -tax Act, 1961, in a case where the accounts of the business or profession of a person have been audited under any other law and Statement of Particulars required to be furnished under Section 44AB of the Income-tax Act, 1961.
Audit Report: The audit report would be either as per the Form 3CA or Form 3CB. Form 3CA is for those persons whose accounts have been audited under any law other than the Income Tax laws. Form 3CB is for those persons whose accounts have not been audited under any other law.
TAX AUDIT SERIES 1- TURNOVER. In series 1 we have discuss what is the meaning of the terms "Sales ", "Turnover" and "Gross Receipts". The initial test is to see if the ‘sales’, ‘turnover’ or ‘gross receipts’ exceeds the limits specified u/s 44AB (a) or 44AB (b).
Sep 15, 2018 · A tax audit report is a report prepared by a Chartered Accountant after conducting the tax audit under section 44AB. It is also required to be furnished before the Income-tax Dept. electronically in Form 3CA/3CB and 3CD.
Feb 6, 2023 · Guidance Note on Tax Audit. The Tax Audit Report has 2 parts – Form 3CA/3CB and Form 3CD. While Form 3CA/3CB is the statement with details of auditor, Form 3CD is the Statement with particulars required to be reported as per Sec 44AB of the Income Tax Act.
Approach to Tax Audit under section 44AB of the Income tax Act, 1961 (Checklist) - (27-10-2020) PDF Format. Word Format. Quick Links. ICAI - The Institute of Chartered Accountants of India set up by an act of parliament. ICAI is established under the Chartered Accountants Act, 1949 (Act No. XXXVIII of 1949)
Jul 10, 2024 · The purpose is to authenticate the accounts, verify compliance with income tax provisions, and submit a tax audit report with the Income Tax Return. What is the last date for the income tax audit? The tax audit report under Section 44AB needs to be submitted one month before the due date for filing Income Tax Return, i.e. on or before September ...
Jun 11, 2024 · Tax audit is a cross-examination of the books of accounts of the taxpayer by a Chartered Accountant (holding full-time Certificate of Practice) under the Income Tax Act 1961. The auditor has to furnish the audit report in the specified audit form along with the detailed particulars.
Tax audit, an essential tool in ensuring adherence to tax laws and regulations, demands a profound understanding of intricate legal framework, attention to detail and commitment towards ethical practice.
Audit report under section 44AB of the Income-tax Act, 1961, in a case where the accounts of the business or profession of a person have been audited under any other law
