Tax audit report
This query is : Resolved
27 March 2019
In case of Amalgamation, whether Revised Tax Audit Report is also to be submitted along with the Revised ITR for Amalgamated Company.
27 March 2019
Yes, revised tax audit report to be filed for amalgamated company
27 March 2019
There are certain doubts on revising of Tax Audit Report. Can you clarify these:
1. Whether Tax Audit Report will be filed on 3CA-3CD
2. Which Balance Sheet/P&L will be attached with TAR
3.Whether Merged Balance Sheet will have to be audited as there is no requirement to prepare and audit the merged balance sheet under the Companies Act.
4.TAR has a reference to Balance Sheet and P & L in 3CA. How the same will appear in 3CA.
1. Whether Tax Audit Report will be filed on 3CA-3CD
2. Which Balance Sheet/P&L will be attached with TAR
3.Whether Merged Balance Sheet will have to be audited as there is no requirement to prepare and audit the merged balance sheet under the Companies Act.
4.TAR has a reference to Balance Sheet and P & L in 3CA. How the same will appear in 3CA.
30 March 2019
1.Yes, tax audit report in Form 3CA-3CD to be prepared again for amalgamated company. While uploading the TAR online you have to mention revised and select reasons for revise as change in annual accounts.
2. Merged balance sheet and P&L prepared for amalgamated company considering the merged accounting entries.
3.Yes, merged balance sheet and P&L to be audited and approved by board of directors in the subsequent EGM. Though there is no requirement, but, on account of merger the final accounts gets changed w.e.f the date approved by the HC order and the same needs to be audited.
4. merged BS and P&L to be uploaded.
2. Merged balance sheet and P&L prepared for amalgamated company considering the merged accounting entries.
3.Yes, merged balance sheet and P&L to be audited and approved by board of directors in the subsequent EGM. Though there is no requirement, but, on account of merger the final accounts gets changed w.e.f the date approved by the HC order and the same needs to be audited.
4. merged BS and P&L to be uploaded.
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