Interested to Buy Any Domain ? << Click Here >> for more details...
What are the portions to be covered in tax audit and what
are the papers to be checked in tax audit by auditors?
- 2 Answers
- 6942 Views
- I also Faced
- E-Mail Answers
Answer Posted / v p narasimhan
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 |
Post New Answer View All Answers
How to do an internal audit effectively?
What is the mean of internal audit?
Why there is no opening balance for Profit and Loss Account?Refer me Detailed explanation. Thank you.
What are the different types of audits?
What do you know about KPMG?
what is the accounting treatment on Putoption over own shares.?
What is CARO 2003? What do you mean by management audit?
Why you want to be a auditor?
what supporting documents do we vouch to for sales, purchases, receivables, payables, sales cutoff, and liabilities cutoff?
Why do you want to work in audit?
What is pr ? why it is prepared and what is its purpose ? who is responsible for preparing it ? And on any fault in it who is liable ? And what will happen if fault comes ?And What are major reasons of fault ?
I WANT TO DO MY ARTICLE-SHIP FROM DELLOITS KOLKATA..PLEASE HELP??
Explain the basic principles of an internal audit controlsystem?
i have to finalize a mineral water co. for the year 2014-15 and i want to know that what will be rate of excise duty on sale of mineral water.
Explain about cross functional audits?
