Taxmann S Analysis Cbdt Updates The Tax Audit Report In Form No 3cd Effective From 05 03 2024
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Taxmann S Analysis Cbdt Updates The Tax Audit Report In Form No 3cd Effective From 05 03 2024
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Author : Taxmann
language : en
Publisher: Taxmann Publications Private Limited
Release Date : 2024-03-08
Taxmann S Analysis Cbdt Updates The Tax Audit Report In Form No 3cd Effective From 05 03 2024 written by Taxmann and has been published by Taxmann Publications Private Limited this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-03-08 with Law categories.
The Central Board of Direct Taxes (CBDT) has issued a Notification dated 05-03-2024 announcing amendments to Form 3CD. These changes shall apply to all tax audit reports signed or after 05-03-2024, irrespective of the assessment year to which the tax audit report relates. The analysis of changes in the clauses has been discussed in this article, including: ‣ Clause 8a (Whether the company has opted for the special tax regime with lower tax rates) ‣ Clause 12 (Reporting of profits assessable under presumptive tax schemes credited to P&L) ‣ Clause 18 (Depreciation admissible) ‣ Clause 19 (Amount admissible as deduction under Sections 35, 35D, etc.) ‣ Clause 21(a) [Amounts debited to P&L covered by Explanation 3 to section 37(1)] ‣ Clause 21(b) [Amounts inadmissible under Section 40(a)(ia)] ‣ Clause 26 (Amounts covered Section 43B) ‣ Clause 32 (Brought forward loss or depreciation)
Direct Taxes Ready Reckoner
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Author : Dr. V. K. Singhania
language : en
Publisher:
Release Date : 2009-07-01
Direct Taxes Ready Reckoner written by Dr. V. K. Singhania and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-07-01 with categories.
Tally Erp 9 Power Of Simplicity
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Author : SHRADDHA SINGH
language : en
Publisher: V&S Publishers
Release Date : 2015-06-01
Tally Erp 9 Power Of Simplicity written by SHRADDHA SINGH and has been published by V&S Publishers this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-06-01 with Business & Economics categories.
Tally.ERP 9 is the latest ERP offering of the Tally software series. This book gives you an in-depth knowledge of working with Tally.ERP 9 in a precise and easy to understand language with lots of examples and illustrations. It begins with the basic concepts of accounting so that the beginners in this field can get the desired knowledge before laying their hands on Tally.ERP 9. All the topics from creating a company in Tally.ERP 9 to adding Godowns, Stock Items, Ledger Accounts, etc. are covered in detail with examples. The book also covers the Payroll Inventory System and its related entries in an easy to understand language, and in the end, you are introduced to the basics of Tally.NET. Therefore, the book is a must read for all, who wish to learn the latest version of Tally, particularly, it's a boon in disguise for the students from commerce background.
The Taxation Of Income
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Author : Abimbola A. Olowofoyeku
language : en
Publisher:
Release Date : 2011
The Taxation Of Income written by Abimbola A. Olowofoyeku and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with categories.
Taxmann S Analysis How To Report Disallowance Under Section 43b H In Form 3cd
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Author : Taxmann
language : en
Publisher: Taxmann Publications Private Limited
Release Date : 2024-03-26
Taxmann S Analysis How To Report Disallowance Under Section 43b H In Form 3cd written by Taxmann and has been published by Taxmann Publications Private Limited this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-03-26 with Law categories.
The article analyses the amendment made to Clause 26 of Form 3CD through CBDT Notification G.S.R. 155(E), dated 05-03-2024, in relation to Section 43B(h) concerning delayed payments to MSEs. It also provides the tax auditor's responsibilities in reporting amounts disallowable due to delayed payments to MSEs, including: ‣ Amendment made to Clause 26 of Form 3CD as regards Section 43B(h) ‣ Need/Rationale for the amendment ‣ Problems/issues with the amendment made to Clause 26 ‣ CBDT's Corrigendum ‣ Implications and Impact of the Corrigendum Notification ‣ Points to be kept in mind by the tax auditor for reporting in amended Clause 22
Taxaudit With The Taxmann S Taxauditfaqs Disclosure Reporting In Form 3cd A Y 2022 21
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Author : Taxmann
language : en
Publisher: Taxmann Publications Private Limited
Release Date : 2022-01-11
Taxaudit With The Taxmann S Taxauditfaqs Disclosure Reporting In Form 3cd A Y 2022 21 written by Taxmann and has been published by Taxmann Publications Private Limited this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-01-11 with Law categories.
Form 3CD is the part of the Tax Audit Report issued by a Chartered Accountant regarding Tax Audit carried out as per Section 44AB of the Income-tax Act, 1961. Certain items reported by an auditor in Form 3CD have no bearing in the computation of taxable profit of business or profession but have immense importance. This write-up discusses the various disclosure & reporting requirement in Form 3CD, applicable for the Assessment Year 2021-22.
Guide To Tax Audit
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Author : Srinivasan Anand G
language : en
Publisher:
Release Date : 2009-08-01
Guide To Tax Audit written by Srinivasan Anand G and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-08-01 with categories.
A Comprehensive Practice Guide For Chartered Accountants To Conduct Compulsory Tax Audit Under Section 44Ab Of Income Tax Act *Clause-By-Clause Analysis Of Form No. 3Ca/3Cb/3Cd. *Linking Of Each Item Of Form 3Cd To Corresponding Item In Itr 5/Itr 6 So That Returns Can Be Filled Up Easily Based On Form 3Cd. *Relevant Provisions Of Income-Tax Act, As Amended By Finance (No.2) Act, 2009 Duly Explained With The Help Of Charts & Tables. *Relevant Discussion Of Legal Provisions And Case Laws. *Icai'S Views Incorporated. *Practical Analysis Of Auditing & Assurance Standards.
Taxaudit With The Taxmann S Taxauditfaqs Dues Date Process To File Tax Audit Report A Y 2022 21
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Author : Taxmann
language : en
Publisher: Taxmann Publications Private Limited
Release Date : 2022-01-10
Taxaudit With The Taxmann S Taxauditfaqs Dues Date Process To File Tax Audit Report A Y 2022 21 written by Taxmann and has been published by Taxmann Publications Private Limited this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-01-10 with Law categories.
It is mandatory to file the tax audit report one month before the due date of furnishing the return of income under section 139(1). Thus, for the assessee covered under Transfer Pricing, the due date of furnishing the tax audit report is October 31, and for others, the due date is September 30. However, for Assessment Year 2021-22, the CBDT has extended those due dates. This write-up discusses the due date for furnishing the tax audit report for the Assessment Year 2021-22 and the filing process.
Taxmann S Tax Audit Finance Act 2025 Comprehensive Clause By Clause Treatise For Section 44ab Including Revised Msme Thresholds E Filing Instructions Checklists Faqs Icai References
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Author : CA Srinivasan Anand G.
language : en
Publisher: Taxmann Publicaions Private Limited
Release Date : 2025-04-11
Taxmann S Tax Audit Finance Act 2025 Comprehensive Clause By Clause Treatise For Section 44ab Including Revised Msme Thresholds E Filing Instructions Checklists Faqs Icai References written by CA Srinivasan Anand G. and has been published by Taxmann Publicaions Private Limited this book supported file pdf, txt, epub, kindle and other format this book has been release on 2025-04-11 with Law categories.
This book is a comprehensive and updated treatise meticulously designed to address all aspects of tax auditing under Section 44AB of the Income-tax Act. Incorporating the latest amendments effected by the Finance Act 2025, this Edition provides in-depth guidance on every clause of Form No. 3CD. Special attention is devoted to the newly revised investment and turnover thresholds for MSMEs and how these affect reporting under Clause 22. The book offers auditing insights, compliance checklists, practical FAQs, and detailed explanations of statutory provisions. Its hallmark features include a structured analysis for each Form No. 3CD clause—covering what the clause mandates, possible pitfalls, relevant case law references, checklists, e-filing steps, and suggested audit documentation. In addition, multiple 'Tax Audit Reckoners' provide quick-reference tools for specific audits (e.g., cash transactions, sale of immovable property, share capital, and loans/deposits). This book is intended for the following audience: • Chartered Accountants and Tax Professionals – Seeking in-depth guidance on the latest tax audit procedures, documentation standards, and reporting nuances • Business Owners and Finance Executives – Looking to understand the mandatory audit requirements under Section 44AB and how to comply effectively • Legal Practitioners – Who handle tax litigation or advisory and need clarity on the latest statutory requirements and ICAI perspectives • Students and Academics – Offering a concise yet detailed resource to gain mastery in practical aspects of tax audits The Present Publication is the 17th Edition | 2025, amended by the Finance Act 2025. This book is authored by CA. Srinivasan Anand G. with the following noteworthy features: • [Complete Coverage of Form No. 3CD] Every clause is dissected to clarify mandatory disclosures, statutory references, linkages with other clauses, and relevant ICAI guidance • [Latest Amendments Addressed] Incorporates the Finance Act 2025, including revised MSME thresholds impacting audit reporting under Clause 22 • [Structured Clause-by-Clause Analysis] Clearly explains what each clause requires (and does not require), the nature of the auditor's reporting responsibility, and the supporting documentation needed • [Practical Checklists and Reckoners] Offers multiple 'Tax Audit Reckoners' for focused areas such as cash transactions, sale of immovable property, share capital, and loans/deposits • [Compliance-focused Approach] Guides auditors and assessees on how to fill details in the e-filing utility with step-by-step reporting instructions • [Interpretational Guidance and FAQs] Addresses common ambiguities in the tax audit sphere, providing practical examples and frequently asked questions to clarify practical scenarios • [Comprehensive Reference to Other Laws and Provisions] Includes references to related statutory provisions (e.g., MSMED Act, ICDS, TDS obligations) that integrate with tax audit procedures • [Audit Documentation Tools] Highlights recommended working papers, disclaimers, and qualifications for robust documentation and risk mitigation • [Updated for Non-Applicable/Replaced Clauses] Details clauses that have become obsolete or irrelevant for Assessment Year 2025–26 (e.g., DDT, certain central excise or service tax clauses) The content is methodically laid out in 62 chapters, each dedicated to a specific component of Section 44AB and Form No. 3CD, such as: • Section 44AB Basics o Who must get audited, turnover thresholds, profession vs. business distinctions (Chapters 0 to 5) • Deep Dive into Turnover/Gross Receipts o Interpretation, calculation, and compliance obligations (Chapter 6) • Obligations and Preparation o Financial statements, forms (3CA, 3CB, 3CD), and overarching responsibilities (Chapters 7 to 11) • Clause-by-Clause Commentary on Form 3CD (Chapters 12 to 62) o Clause 1 to Clause 8A – Basic information about the assessee, status, previous year, relevant sections under 44AB, and new tax regime options o Clause 9 to Clause 29B – Detailed requirements for reporting partnerships, nature of business, books of accounts, method of accounting and valuation, deemed profits, inadmissible expenses, and property transactions at lower stamp duty value o Clause 30 to Clause 44 – Covers special areas such as GAAR, secondary transfer pricing, thin capitalisation, receipt/payments in cash above specified limits, TDS compliance, quantitative details, and the final Clause 44 on GST-related reporting • Tax Audit Reckoners o Swift references for auditing cash transactions, sale of immovable property, share capital, and loans/deposits o Tables delineating the clauses not applicable to certain assessees (e.g., those following the cash basis of accounting) The structure of the book is as follows: • Introductory Chapters (0–5) – Lay the groundwork for understanding the legal framework (Section 44AB), defining who is covered and the turnover-linked vs. non-turnover-linked obligations • Core Explanatory Chapters (6–11) – Discuss how to compute turnover or gross receipts, highlight the essential obligations cast by Section 44AB, and guide the reader through the preparation of financials and relevant forms (3CA, 3CB, 3CD) • Clause-by-Clause Analysis (12–62) – Each clause begins with a quick summary o What the Clause Requires o What it Does Not Require o Auditor's Reporting Responsibility o Statutory Provisions & ICAI's Views o Documentation, MRL, and Linkages o Checklist o Guidance on E-Filing Utility o Precautions, Disclaimers, and FAQs • Reckoners & Special Audits – Interspersed throughout are 'Tax Audit Reckoners' that compile crucial provisions into quick-glance charts/tables for specific scenarios (cash transactions, share capital, immovable property, etc.) • Appendices and Notable Omissions – Clarify redundant clauses or those inapplicable to certain periods (e.g., older excise and service tax audits, dividend distribution tax)
Taxmann S Analysis Cci Combinations Regulations 2024 Blueprint For Fair Competition
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Author : Taxmann
language : en
Publisher: Taxmann Publications Private Limited
Release Date : 2024-09-13
Taxmann S Analysis Cci Combinations Regulations 2024 Blueprint For Fair Competition written by Taxmann and has been published by Taxmann Publications Private Limited this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-09-13 with Law categories.
A 'combination' refers to mergers, acquisitions, or amalgamations between enterprises that may significantly impact competition in the market. The Competition Commission of India (CCI) regulates these combinations to prevent practices that could have an appreciable adverse effect on competition (AAEC). To effectively regulate combinations, the CCI notified the Competition Commission of India (Combinations) Regulations, 2024, on September 9, 2024, which came into effect on September 10, 2024. The key highlights of the notified Regulations include: ‣ Broader Definition of ‘Transaction Value’ under Section 5(d) of the Competition Act, 2002 ‣ Criteria for Assessing 'Substantial Business Operations in India' under Section 5(d) of the Act ‣ Streamlining Notice Requirements under Sections 6 and 6A of the Act for Combinations ‣ Restrictions on the Acquirer's Influence and Rights during Acquisitions under Section 6A ‣ Commission to Carefully Assess Confidentiality Requests during Inquiries ‣ Obligations to File Combination Notices ‣ Amendment to the Fee Structure for Filing Notices ‣ Scrutiny and Validation of Combination Notices ‣ Notice Requirements for Combinations ‣ Hearing Procedures and Statutory Timelines in Combination Inquiries ‣ Modifications to the Proposed Combination ‣ Compliance and Monitoring Requirements for Combination Modifications