What are the portions to be covered in tax audit and what
are the papers to be checked in tax audit by auditors?
Answers were Sorted based on User's Feedback
All statutory compliances & its payments were tobe checked
and certified in the Tax Audit Report. Few cases as follows:
1) Tax Deduction on Payments to Contractors & Sub
Contractors - Verification of % & its deduction. Whether
the same has been paid to the Department in the subsquent
month before due date.
2) Provident Fund,Profession Tax, IT on Salary , Service
Tax, Sales Tax etc (all the Government Levies) Whether
deductions made properly in line with the Law and Payemnt
has been made properly before due date.
3) Interst,Dividend,Dividend Tax etc., also to be checked
the deduction & payment.
4) Cash payment should not be made >20,000 if so it will be
disallowed.
5) Huge cash balance should not be kept & it will leads to
wealth tax.
6) Any delayed payment on government levies will attract
interest.
7) what ever the rpovisions made earlier earlier year has
been set off to be checked.
Is This Answer Correct ? | 12 Yes | 0 No |
Answer / rajesh
whether the income exceeds 40 lacs or above. we have file
the tax audit report to IT. during tax audit we have to
check all the current liabilities,like sales tax, TDS
payable,& etc. we have to give 3CB,3Cd,43B for Tax audit
Is This Answer Correct ? | 6 Yes | 2 No |
accounting seation and taxation caluation
does current year losses of rs 500000 prove that a company lacks going concern
types of audit
what are the duties of an internal auditor
How can i disable closing stock in trial balnce in tally?
Will it be fine if private Ltd Company do not follow depreciation rate as per The Companies Act,1956 & follow Depreciation Rates as per Income Tax. Also is it necessary to claim VAT Setoff on Asset Capitalised only after some percentage of retention.
what r journal entry transaction
1 Answers Accenture, HP, OPI Global,
what was ur role in team?
Who will audit an auditing firm?
What is your Strenth and waekness & why
1 Answers Aloha Technology, Deloitte,
How Will U Verify in Salaries whether TDS is deducted or not?
assume we have taken a assest on 20/02/2010,then can we charge depreciation for a whole finacial year?