What are the portions to be covered in tax audit and what are the papers to b

What are the portions to be covered in tax audit and what
are the papers to be checked in tax audit by auditors?

Question Posted / muralidharan

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What are the portions to be covered in tax audit and what are the papers to be checked in tax aud..

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.

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What are the portions to be covered in tax audit and what are the papers to be checked in tax aud..

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

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