Full payment details not shown during the audit

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

07 October 2011 Dear Experts,

One of the client falling below tax audit limit, however the audit was done as the profit was below 8 % now the audit has been done and the rertun has been filled. Now the assessee has revceived another paymnet certificate pertaning to preevious year 2010-11 on which tax has been deducted at source,
Now as there is no provision for revision of audt report as per my understanding. Now what is the option available to the assessee.
Is there any liablity on this part of the Auditor.

CA Satish Badve

CA Satish Badve (Expert)
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07 October 2011 If your client maintaining the accounts on cash basis, the income will be offered for taxation in the year of receipt.The TDS will also be claimed in the year when the income is offered for taxation.

Otherwise, the return has to be revised giving the effect of receipt and TDS.If it is clearly proved that the information is genuinely received after the date of audit, the auditor can justify the non-inclusion in the audit report.