HELLO FRIENDS, CAN ANYBODY TELL ME WHETHER TAX AUDIT REPORT IS ALSO TO BE FILED WHILE FILING THE RETURN OR IT SHOULD BE SHOWN ONLY WHEN IT IS DEMANDED BY THE AO.
Dheeraj
(Learner)
(1100 Points)
Replied 22 August 2010
NO, THE FOTM 3CB & 3CD ARE NOT TO BE ATTACHED WITH ITR, ONLY ON DEMAND IT IS SHOWN TO A.O
Aditya Maheshwari
(CA in Practice)
(35867 Points)
Replied 22 August 2010
No it is not be attached with the ITR and be sent to the A. O. when demanded.
Also now ITR for persons liable for tax audit is compulsorily to be efilied. So no scope to submit along with the return.
Aditya Maheshwari
(CA in Practice)
(35867 Points)
Replied 22 August 2010
Still Tax audit report is to be prepared and kept ready and be submitted to the A. O. as and when demanded.
Particulars with respect to the name of the person signing needs to be put the date his membership no. also needs to be put which the CA would not allow if the report is not ready at the time of filing of return. So in effect the due date will remain the same and also the report should be prepared by 30th September only.
Dheeraj
(Learner)
(1100 Points)
Replied 22 August 2010
YES
RETURNS CAN BE FILLED TILL 31 MARCH
BUT THE DUE DATE IS 30 SEPT.
AFTERWORDS IT WILL ATTRACT SEC 234
i.e INTEREST FOR LATE PAYMENT OF TAX AND LATE FILLING OF RETURN
CA SURENDRA KUMAR RAKHECHA
(Practising CA at Surat)
(26263 Points)
Replied 22 August 2010
1. In Tax audit case; If you file return late; then more chances are there for scrutiny selection.
2. It would be a foolish act not to prepare Tax Audit Report because it is not likely to be attached. Whenever this would be demanded; at that time you will find yourself helpless. Not only you will face trouble; but the Auditor also face the trouble who has not kept it signed.
3. If loss are like to be claimed; late filing will not allow you to carry forward the losses.
4. Not only Tax Audit Reports; but all the enclosures are now not required to be attached with the return even if the Return is filed in paper format.
ANIL KUMAR JAIN
(PRACTISING CONSULTANT)
(65 Points)
Replied 23 August 2010
E-FIling of an Tax Audit is compulsory,,,,,,, whether an individual or huf or psf, a company (mandatory)
and hence in E-filing nothing is required to be attached only the auditor details are furnished who's auditing the said Tax Audit......(no tax audit report no directors report & other certificates, LIC Recepits etc...)
but its good to keep an audit report prepared so that it could be furnished to A.O. if required,
MAN NO CLIENT WILL GIVE AN AUDITOR FEES IF HE DOESN"T GIVE HIM AN AUDIT REPORT SO WHY YOU PEOPLE MAKE FOOLISH QUESTION ....??? CLIENT WILL TELL ONETHING - KYA AUDIT KARE KAHAPE AUDIT REPORT ???
DON'T You Think......... or you think Client is a Fool????
ANIL KUMAR JAIN
(PRACTISING CONSULTANT)
(65 Points)
Replied 23 August 2010
and late filing of tax audit not only attracts interest as peanlty but also.. it attracts penalty upto 1% of turn over where turnover is more than 1 crore and if not at 1/2 % so i don't think a firm under tax audit will file late return..........
CA NAVEEN
(CA)
(22 Points)
Replied 23 August 2010
It is better to keep ready the Tax Audit Reports manually as we would do l these previously. Otherwise You may face some practical problems of forgetting to fill some columns, which u shold have filled when asked by the Officers.
Batul
(Article assistant)
(207 Points)
Replied 24 August 2010
No it is not to be attached along with the ITR but it has to be produced before the ITO when it is demanded
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
CAclubindia
