TAXMANN’S TAX AUDIT BY CA SRINIVASAN ANAND G 15th Edition 2023

Description

This book comprehensively provides the following:

• [Commentary on Tax Audit u/s 44AB] with reference to its applicability to various assessees and appointment of the tax auditor
• [Clause-wise Detailed Commentary] on the following:
  • Form 3CA
  • Form 3CB
  • Form 3CD
  • Clause 30C of Form 3CD pertaining to GAAR explained with foreign case laws
• [Detailed Discussion on Presumptive Tax Provisions with Pros & Cons] of the following sections:
  • Section 44AD
  • Section 44ADA
  • Section 44AE
• [Income Computation and Disclosure Standards (ICDS)] explained with the following:
  • Application Guide for each ICDS
  • Difference between Ind AS/AC & ICDS
  • Statements showing adjustments for variations between Ind AS/AS & ICDS
• [Tax Audit Ready Reckoner] on the following topics:
  • Management Representation Letters which are to be obtained by the tax auditor for each Clause of Form No. 3CD
  • Notes/Comments/Disclaimers to be given regarding each Clause of Form No. 3CD in Clause (3) of Form No. 3CA & Clause (5) of Form No. 3CB
  • Audit of Cash Transactions
  • Audit of Share Capital
  • Audit of Loans, Borrowings and Deposits
  • Sale of Immovable Property
  • Applicability of various clauses to different assessees
  • Clause of Form 3CD not applicable to assessees following cash basis of accounting
  • Form 3CD – Clause-wise applicability reckoner of ICDS
  • Statutory provisions relevant to various clauses of Form 3CD

The Present Publication is the 15^th Edition and has been amended by the Finance Act 2023. This book is authored by CA Srinivasan Anand G. with the following noteworthy features:

• [Practice Pointers] which includes common errors in reporting detected by the ICAI while scrutinising tax audit reports for each Clause of Form No. 3CA, Form No. 3CB and Form No. 3CD
• [Consequential Effects on Other Clauses] while reporting in each Clause of Form No. 3CD
• [Tax Audit of Companies]; relevant clauses in statutory audit report & CARO report, which are to be cross-checked
• [Requirements of various Clauses] of Form 3CA, Form 3CB & Form 3CD are discussed with reference to the following:
  • e-Filing Utility requirements
  • Relevant Legal Provisions
  • Case Laws
  • CBDT Clarification
  • Views of the ICAI
• [Checklists] are provided for various clauses of Form 3CD

The structure of this book is as follows:

• Chapters 0 – 14 provide the obligation of an entity to get the accounts audited u/s 44AB, which is explained in light of presumptive taxation provisions along with the following:
  • Case Laws
  • Latest ITR Forms
  • Views of the ICAI
• Chapters 15 – 65 provide a clause-wise commentary on Form 3CD with a Tax Audit checklist for each clause. Linkages with other clauses of Form 3CD, i.e., how remarks on a particular clause impact report under other clauses, are provided in this book. Each clause is explained in light of the following:
  • e-Filing utility requirements
  • Relevant Legal Provisions
  • Case Laws
  • CBDT’s Clarifications
  • ICDS
  • Views of the ICAI