This book comprehensively provides the following:

• [Commentary on Tax Audit] with reference to its applicability to various assessees and appointment of the tax auditor
• [Clause-wise Commentary] on the following:
• Form 3CA
• Form 3CB
• Form 3CD
• Clause 30C of Form 3CD pertaining to GAAR, explained with foreign case laws

The Present Publication is the 14^th Edition, authored by CA Srinivasan Anand G. This book is updated by the Finance Act, 2022 with the following noteworthy features:

• [Requirements of various Clauses] of Form 3CA, Form 3CB & Form 3CD are discussed with reference to the following:
• e-Filing Utility requirements
• Relevant Legal Provisions
• Case Laws
• CBDT Clarification
• Views of the ICAI
• [Income Computation and Disclosure Standards (ICDS)] explained with the following:
• Application Guide for each ICDS
• Differences between Ind AS/AS & ICDS
• Statements showing adjustment for variations between Ind AS/AS and ICDS
• Relevant latest amendments on Ind AS are incorporated
• [Checklists] are provided for various clauses of Form 3CD
• [Presumptive Tax Provisions] of sections 44AD, 44ADA and 44AE are explained along with the pros & cons for opting them
• [Tax Audit Ready Reckoner] are provided in this book on the following:
• Audit of Cash Transactions
• Audit of Share Capital
• Audit of Loans, Borrowings and Deposits
• Sale of Immovable Property
• Applicability of various clauses to different assessees
• Clause of Form 3CD not applicable to assessees following cash basis of accounting
• Form 3CD – Clause-wise applicability reckoner of ICDS
• Statutory provisions relevant to various clauses of Form 3CD

The structure of this book is as follows:

• Chapters 0 – 14 provide the obligation of an entity to get the accounts audited u/s 44AB, which is explained in light of presumptive taxation provisions along with the following:
• Case Laws
• Latest ITR Forms
• Views of ICAI
• Chapters 15 – 65 provide a clause-wise commentary on Form 3CD with a Tax Audit checklist for each clause. Linkages with other clauses of Form 3CD, i.e., how remarks on a particular clause impact report under other clauses, are provided in this book. Each clause is explained in light of the following:
• e-Filing utility requirements
• Relevant Legal Provisions
• Case Laws
• CBDT’s Clarifications
• ICDS
• Views of ICAI