Changes in Tax Audit Report
A brief compilation of changes
ICAI JAIPUR BRANCH
th
8 August, 2014
CA. Rohit
Maheshwari
FORM NO. 3CA
[See rule 6G(1)(a)]
Audit report under section 44AB of the Income - tax Act, 1961, in a case where the accounts of the
business or profession of a person have been audited under any other law
*I / we report that the statutory audit of M/s. _________________ ( Name and address of the
asseessee with Permanent Account Number) was conducted by *me / us / M/s.
____________________________________________________in pursuance of the
provisions of the___________________________Act, and*I/we annex hereto a copy of *my
/ our / their audit report dated _______________________along with a copy of each of :(a) the audited *profit and loss account / income and expenditure account for the period
beginning from ----------------------to ending on -----------------------------.
(b) the audited balance sheet as at, _____; and
(c) documents declared by the said Act to be part of, or annexed to, the *profit and loss account /
income and expenditure account and balance sheet.
2. The statement of particulars required to be furnished under section 44AB is annexed herewith
in Form No. 3CD.
3. In *my / our opinion and to the best of *my / our information and according to examination of
books of account including other relevant documents and explanations given to *me
/ us, the particulars given in the said Form No.3 CD are true and correct subject to the
following observations/qualifications, if any:
a.
b.
c.
……………...................................................
**(Signature and stamp/Seal of the signatory)
Place : ______________
Name of the signatory ………………………
Date : ______________
Full address ………………………………….
FORM NO. 3CB
[See rule 6G(1)(b)]
Audit report under section 44AB of the Income - tax Act 1961,
in the case of a person referred to in clause (b) of sub - rule (1) of rule 6G
1. *I / we have examined the balance sheet as on, ____, and the *profit and loss account / income and expenditure
account for the period beginning from ----------------------to ending on -----------------., attached
herewith, of ____________________( Name ), _______________(Address), ____________(Permanent
Account Number).
2. *I / we certify that the balance sheet and the *profit and loss / income and expenditure account are in agreement with
the books of account maintained at the head office at _____________ and ** ___________ branches.
3.(a) *I / we report the following observations / comments / discrepancies / inconsistencies; if any:
(b) Subject to above, (A) *I / we have obtained all the information and explanations which, to the best of *my / our knowledge and belief,
were necessary for the purpose of the audit.
(B) In *my / our opinion, proper books of account have been kept by the head office and branches of the assessee so far
as appears from*my / our examination of the books.
(C) In *my / our opinion and to the best of *my / our information and according to the explanations given to *me / us,
the said accounts, read with notes thereon, if any, give a true and fair view :(i) in the case of the balance sheet, of the state of the affairs of the assessee as at 31st March, ;and
(ii) in the case of the *profit and loss account / income and expenditure account of the *profit / loss or *surplus / deficit
of the assessee for the year ended on that date.
4. The statement of particulars required to be furnished under section 44AB is annexed herewith in Form No.3CD.
5. In *my/our opinion and to the best of *my / our information and according to explanations given to *me / us, the
particulars given in the said Form No.3 CD are true
and correct subject to following
observations/qualifications, if any:
a.
b.
c.
Place : ______________
Date : ______________
……………...................................................
***(Signature and stamp/seal of the signatory)
Name of the signatory ………………………
Full address ………………………………….
New Clause No.
Old Clause No.
1
1
Name
No Changes
No Changes
2
2
Address
No Changes
No Changes
3
3
PAN
No Changes
No Changes
Indirect Tax Registeration No.
New Clause Inserted
4
Particulars of Clause
Type of Change
Description of Change
5
4
Status
No Changes
No Changes
6
5
Previous Year ended
No Changes
No Changes
7
6
Assessment Year
No Changes
No Changes
Relevant Clause of Sec- 44AB
New Clause Inserted
8
9
7
Name of Partner & Profit sharing Ratio (If Applicable) and Particulars
of Changes
No Changes
No Changes
10
8
Nature of Bussiness or Profession and Particulars of Changes
No Changes
No Changes
11
9
Details of Books of account along with Address
where Books of accounts are kept
Modification in Sub-Clause
12
10
Profits on presumptive basis - Chapter XII G, I
Schedule newly added
Modification
New sections inserted
13
11
Modification in Sub-Clause
Reporting format prescribed
14
12
Modification in Sub-Clause
Reporting format prescribed
15
12A
Capital asset converted into stock-in-trade
No Changes
No Changes
16
13
Amounts not credited to Profit and Loss account
No Changes
No Changes
17
Effect of change in method of accounting on profit
and loss account with the help of tablular format
Effect of change in method of valuation of closing
stock on profit and loss account with the help of
tablular format
Transfer of Land and building and
value adopted or assessed or
New Clause Inserted
assessable referred to in section 43CA
or 50C
New
Clause
No.
Old Clause
No.
18
14
19
15
20
16
21
17
22
17A
23
Particulars of Clause
Description of Change
No Changes
No Changes
Modification
New sections inserted
Modification in Sub-Clause
Reporting format prescribed
Modification
Advertisement expenditure newly
added
Interest inadmissible under micro, SME Development Act,2006
No Changes
No Changes
18
Payment under section: 40A(2)(b)
No Changes
No Changes
24
19
Deemed profit under Sec- 32AC, 33AB, 33ABA or 33AC
No Changes
No Changes
25
20
Profit chargeable to tax u/s 41 and computation thereof
No Changes
No Changes
26
21
sum reffered in section 43B
No Changes
No Changes
27
22
Modvat substituted by cenvat but No impact
Modification
Wording changed
28
Transfer of share u/s 56(2)(viia)
New Clause Inserted
29
Transfer of share u/s 56(2)(viib)
New Clause Inserted
23
Amount borrowed on Hundi (Section- 69D)
No Changes
No Changes
24
Certification has been substituted by "based on the
examination of books of account and other relevant
documents"
Modification in Sub-Clause
Wording changed
32
25
Sepculation loss reffered to in section 73,
section- 73 (by the company), specified
business loss in sec- 73A,
New Sub-Clauses Inserted
33
26
33
26
33
26
30
31
Particulars of Depreciation
Type of Change
Sections of Weighted Deduction with amount debited in
P&L A/c and Amount Admissible as per IT Act, 1961
Reporting of Deposition of sum received from employees
with every due date for payment and actual payment
made with date of actual payment
Personal and advertisement expenditure charged to P&L
account. Detailed bifurcation of Section-40(a),40A(3),
40A(3A) etc
Reporting of Deductions under section-10A,10AA, Chapter
Modification
VIA
Reporting of Deductions under section-10A,10AA (chapter
Modification
III)
Includes not only admissible deductions but also
Modification
deduction who fulfils the conditions
Reporting format prescribed
New sections inserted
Wording changed
New Clause
No.
Old Clause
No.
Particulars of Clause
Type of Change
Description of Change
32
25
Sepculation loss reffered to in section 73, section73 (by the company), specified business loss in
New Sub-Clauses Inserted
sec- 73A,
33
26
Reporting of Deductions under section-10A,10AA, Chapter VIA
Modification
Reporting format prescribed
33
26
Reporting of Deductions under section-10A,10AA (chapter III)
Modification
New sections inserted
33
26
Includes not only admissible deductions but also deduction who
fulfils the conditions
Modification
Wording changed
34
27
Reconciliation of TDS deducted, paid, not deducted, short deducted
etc with the help of tabular format
Modification
Reporting format prescribed
34
27
Modification
Wording changed
34
27
TCS deduction and payment also included
34
27
Interest under section 201(1A) and section 206C(7) New Sub-Clauses Inserted
35
28
Quantitative details of principal Items of Goods Traded
36
29
amount of reduction bifurcated under section 115O (1A)(i) and 115-O-(1A)(ii) [New pension trust
New Sub-Clauses Inserted
system]
37
30
Cost audit report- Disqualification and Disagreement
Modification
Wording changed
38
31
Excise audit report- Disqualification and Disagreement
Modification
Wording changed
Service tax audit report- Disqualification and
Disagreement
New Clause Inserted
39
40
41
New Sub-Clauses Inserted
No Changes
Comparative last year presentation of ratios with the help of Tabular
Modification
Format
Details of demand raised or refund issued along
with relevant proceedings [other than Income tax
and Wealth Tax]
New Clause Inserted
No Changes
Reporting format prescribed