presentation on tax audit filing of tax audit report
Post on 11-Oct-2015
33 views
DESCRIPTION
Presentation on Tax Audit Filing of Tax Audit ReportTRANSCRIPT
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
1/62
New e-filing procedures
1
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
2/62
A
A . A
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
3/62
, 201213 () .
, , , 29 .
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
4/62
4
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
5/62
A C F ( )
/ , 139(1)()
&
/
139(3)
I / HF / A / BI / A
C IA / 10 / 10B / 10BA 5 139(1)
13A 139(4B)
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
6/62
/ 11/12 139(4A)
, , , / , / , , , 139(4C)
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
7/62
,
A ,
30
92 (
)
30
31
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
8/62
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
9/62
... 201213, , ,
, 2013 139(9)
1.6.2013
. 1 /.25 201314
( ) , 2013, /. 10(23)/12 (
)
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
10/62
1
()
, ,
(),
()
:
. . B/
.
.
. & /
. /
90/90A/91
. .5,000
2 / / /
3 /
/ /
4 /
/
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
11/62
4
()
/
44A/44A
/ :
. B & /
. /
90/90A/ 91
. .5,000
5
//
/.139(4A),(4B),(4) (4) 7
6 7
7 (
)
139(4A),(4B),
(4) (4)
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
12/62
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
13/62
()
( C
I7)
10
( C
I7)
10
( C
I7)
A, BI,
A
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
14/62
()
D
A A(DAA) (/ 90 90A)
(/ 91)
H
I7
H
I
I
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
15/62
()
..
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
16/62
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
17/62
F 139(9) 139C 12:
C
/
A A , .
, ID .
H, A 201314, A 44AB (
( & ), 115B (F 29B A), F 10B( ), F 10BB (/ ) F 10CCB (80IA/80IB/80IC/80ID/80AA/80A)
D &
CA F 29B, A I D . CA A DC .
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
18/62
F , .
E / CA A.. 201314 .
, CIE .
EGIAI F
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
19/62
, , , C BI .
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
20/62
, D. A D D. A .
D D.
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
21/62
A , .
:
. F
C .
, . A ,
DC , , , ,
.
, .
A ,
F , .
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
22/62
A A A ( ) / .
A
A > A A
. A, A .
. .
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
23/62
23
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
24/62
24
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
25/62
25
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
26/62
26
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
27/62
:
1. ( 3CA3CD, 3CB3CD, 3CB, 29B,
6B, 10B, 10BB 7)
2. ( )
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
28/62
..., D , (7)
( )
( ) .
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
29/62
, . , . ,
( 7 13) .
.
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
30/62
.
, D ,
.
. (: . 3CA
. 3CD ( A) A
. 3CD ( A). D , ,
)
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
31/62
Validate option, validates all the pages of the Form andthrows up the errors in the form.
Once the form is validated, Generate xml option createsa final xml which has to be uploaded with the department.
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
32/62
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
33/62
1. 'F' , F
2. F > F > F
3. E A, CA A; F ( ) A .
4. B
5. D C.
6. C 'B'.7. , F ( ) '
.
8. F ,
/ .9. A) A, F F
. .
B) , F ( )
9, 10 & 11A.
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
34/62
1. A 3CD 3CA/3CB,
.
, ,
.
2.
( )
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
35/62
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
36/62
1. '' , " "
2. A A, CA A, (
) A .3. D C CA
4. C 'B'.
. .
6. , ( ) A' .
7. A ,
/ ( ).
8. ) ,
. .
) , CA (
) .
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
37/62
62, 63,
63A 64 A
CA. , CA
.
( ) A
1. CA ,
( )
A.
2. D C.
3. C 'B'.
4. .
.
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
38/62
Process:
Step 1: Visit ITD Website. Assessee has to login through his LoginCredentials
Dashboard will appear on the screenStep 2: Go to Worklist
List of Reports uploaded by CA Pending for Approval will appear.
Acceptance / Rejection of Report by Assessee
38
Assessee can download the Attachment and Report uploaded by CA.To submit, Assessee need to select Approve and affix his Dig. Sign.
Step 4: On successful upload, Upload Screen will appear
Step 5: Assessee can also reject the Return. However, reasons for
rejections must be mentioned at the time of Rejection.Step 6: Acknowledgement can be generated from My Account -> MyReturns / Forms. Click on the Return Ack. No.
Step 7: Assessee can download Audit Report, Receipt and
Attachments and also Acknowledgement
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
39/62
Acceptance / Rejection of Report by Assessee
Step 1 - Login
39
A t / R j ti f R t b A
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
40/62
Acceptance / Rejection of Report by Assessee
Step 2 Go to Worklist
40
A / R j i f R b A
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
41/62
Acceptance / Rejection of Report by Assessee
Step 3 Form View & Acceptance/Rejection
41
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
42/62
Acceptance / Rejection of Report by Assessee
Step 4 Screen after Uploading of Report
42
A t / R j ti f R t b A
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
43/62
Acceptance / Rejection of Report by Assessee
Step 5(a) Rejection of Report
43
Acceptance / Rejection of Report b Assessee
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
44/62
Acceptance / Rejection of Report by Assessee
Step 5(b) Worklist after Rejection of Report
44
Acceptance / Rejection of Report by Assessee
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
45/62
Acceptance / Rejection of Report by Assessee
Step 6 Generation of Acknowledgement
45
Acceptance / Rejection of Report by Assessee
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
46/62
Acceptance / Rejection of Report by Assessee
Step 7 Acknowledgement Screen
46
Acceptance / Rejection of Report by Assessee
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
47/62
Acceptance / Rejection of Report by Assessee
Step 7 Format of Acknowledgement
47
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
48/62
.
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
49/62
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
50/62
,
50
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
51/62
,
.
.
51
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
52/62
1 CA F A F
A CA F ( I) A
CA F
CA D F, ,
CA F, F
CA ID
A . A
A /
F
F /F
CA / F
F
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
53/62
53
Hardships likely to be faced by assessees as per the
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
54/62
representation:
Attachment of the Financial Statements It is not clear as to whether the Financial Statements to be
attached MUST BE A SCANNED COPY of manually signed statements or a PDF file digitally signed will
be treated as sufficient compliance.
Clause 14 Depreciation There is no column to give details of additional depreciation. Whether datewise details of all the minor items of additions to fixed assets are to be given? This data could run into a
few thousands for many businesses, and would take substantial time to re-enter. Is there any limitation on
the number of items one can enter?
Clause 15 - Under sub clauses a) & b) is it necessary to select each section & put 0 in the amounts
column if there is nothing to report under this clause? Or can we simply skip filling any information in thisclause?
Clause 17 & 17A Under sub clauses a) & b), h)B) of Clause 17 & Clause 17A, it is normal practice to
give appropriate comments by the assessee / tax auditor. But for e filing form, the space provided is not
sufficient. So in that case is it proper for the assessee/ tax auditor to keep the appropriate comments /
remarks / explanation in the hard copy but in the online form we only fill NIL or 0?
Clause 19 Under this clause whether we have to select each section and fill NIL 0 or we can skip filling
this clause, if there is no information to be reported?
54
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
55/62
Clause 21 Under sub clause (i)(B)(b), normally the Tax Auditor fills the information till the date of signing
of the Audit Report. If the payment is made after the date of Audit Report but before the due date of filing
ITR u/s 139(1) of the Act the same is allowed u/s 43B of the Act. Now if the Tax Audit Report is signed on
20.6.2013 and the amounts unpaid are shown under the above sub clause and the Form 3CD is being
uploaded on 16.8.2013, by which time the said amounts have already been paid, what information shouldbe filled in this sub clause? Further suppose the payment is not yet made, and the Form 3CD is uploaded
on 16.8.2013 and the assessee makes the payment after 16.8.2013 but before 30.9.2013, and while
uploading the ITR does not disallow the amounts u/s 43B of the Act, will there be a problem of
disallowance while processing the ITR by CPC, Bengaluru?
Clause 24 Under sub clauses a) & b) if the loan is accepted or repaid by way of any journal / transfer
entry or electronic funds transfer, the remark to that effect is given in Tax Auditors report. However, in thee filing of the Form 3CD, the assessee/tax auditor has to only state whether the amount was accepted /
repaid by otherwise than by account payee cheque or demand draft, and options available are only Yes
or No. In this case, selection of option No without appropriate remarks may lead to penal proceedings
under the Act.
Clause 27 Under sub clause a), the tax auditor normally gives the appropriateremarks/comments/explanation in this regard. But in the online form 3CD, only Yes or No options are
provided under this sub clause. So in that case is it proper that in tax auditors hard copy he keeps the
appropriate remarks / comments / explanation, but in the online form he only fills Yes or No?
55
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
56/62
Clause 27-Sub clause b)(ii) - Besides the normal short deduction, a Tax Auditor normally reports the
cases wherein the tax is deducted under wrong section resulting in short deduction, e.g. if tax is deducted
u/s 194C instead of u/s 194J. However, in the online form 3CD, short deduction only in the respective
section can be reported. Under these circumstances, how does one report the fact of short deduction due
to wrong section?
Clause 27 Sub clause b)(iii) - In addition to the late deduction, the tax auditor normally gives the
information about tax deducted but paid late i.e. after the due date of payment. However, there is no such
option in the online form 3CD. In that case is it proper that the tax auditor gives this information in the hard
copy u no repor ng s one n e on ne orm
Clause 27 (b)(iv) Normally nowadays there is no such situation wherein tax is deducted but not paid to
the Central Govt. as in such a situation the entire expense gets disallowed. However, it is possible that till
conclusion of the Tax Audit Report, the TDS may not have been paid. So in a situation wherein the Tax
Audit Report is finalized on 20.6.2013, and under this clause a default is reported. Till uploading of the
online Form 3CD, say on 16.8.2013, the TDS is not paid. The assessee pays the TDS after 16.8.2013 but
before 30.9.2013 and uploads the ITR without disallowing any amount U/S 40(a)(ia). What will be the
consequences?
Clause 28 This clause deals with quantitative details. In case of Trading / Manufacturing Unit normallythe data is available. But if the same is not available, the tax auditor simply reports Information Not
Available.
56
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
57/62
Certain voluminous data needs to be keyed in into the utility, such as asset wise addition to fixed assets,
which would take a considerable amount of time for many assessees. Presently, no software is readily
available which will automatically convert existing tax audit reports in word or excel format into xml files.
Now the questions are 1) If the data is not available at all till uploading of the report, can a tax auditor skip
this clause? 2) If the data is made available after signing of the Tax Audit Report but before uploading the
Form 3CD, whether the same should be filled in? In that case, whether the signed Tax Audit Report needs
to be revised?
Clause 28(b)(A) - In case of manufacturing assessees, if yield is more than 100%, the utility does not
accept it.
Clause 32 In case of service industry or professionals, normally the tax auditors report states that The
activity of the assessee is neither trading nor manufacturing - as such these ratios are not applicable.
In the online filing there is no space for this comment. In this situation can a tax auditor simply skip this
clause? In that case, is it proper that a tax auditor gives this statement in the hard copy but no reporting isdone in the online form3CD?
In addition, many other clauses of Form 3CD need appropriate disclosures by way of Notes etc. No
disclosure can be made unless space is provided in required fields, e.g. Disclosure of section 145A,
Payments made by cheque or bank draft for section 40A(3), 269SS and 269T, etc.
57
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
58/62
The Annexure II is still part of the Form 3CD. However, from A.Y. 2010-11 the provisions of FBT are made
ineffective. The online Form 3CD also does not provide this Annexure II. What is the exact position? Are
tax auditors supposed to report NIL under this annexure? Normally, tax auditors report NIL and the factthat provisions of FBT are made ineffective from A.Y. 2010-11 is also reported.
58
Suggestions:
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
59/62
Suggestions:
In view of the above difficulties/issues, it is suggested that the requirement of furnishing report of audit
electronically be made applicable from Assessment Year 2014-15 (i.e. next year) onwards, by which time
appropriate software would be available for conversion.
Alternatively, the due date for furnishing the report of audit be extended to 31st December 2013 instead of
30th September 2013 (i.e. extension of three months for furnishing the report), while the return can still be
uploaded by the due date of 30th September/30th November, as the case may be.
Clarification should be issued immediately in respect of various issues arising in respect of electronic filing
of Form 3CA/3CB/3CD, as pointed out above.
59
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
60/62
Thank You!
E-mail: [email protected]: 9820290826
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
61/62
Questions?
-
5/21/2018 Presentation on Tax Audit Filing of Tax Audit Report
62/62
Thank You
62