How to rectify Incorrect Balance sheet uploaded in TAR
This query is : Resolved
Chandan Kumar Mittal
(Querist)
02 November 2024
What to do if TAX Audit done with incorrect balance sheet uploaded & also accepted by assessee.
Whether TAR need to be revised?
Whether TAR need to be revised?
Dhirajlal Rambhia
(Expert)
02 November 2024
ICAI Guidelines:
The ICAI has issued guidelines on revising tax audit reports in its "Guidance Note on Tax Audit under Section 44AB of the Income-tax Act, 1961" (updated 2022).
Conditions for Revision:
Additional information or documents become available after the original report's submission.
There's a change in the tax laws or notifications that affect the original report.
Errors or omissions are discovered in the original report.
To revise a tax audit report:
Obtain written instructions from the assessee.
Document reasons for revision.
The ICAI has issued guidelines on revising tax audit reports in its "Guidance Note on Tax Audit under Section 44AB of the Income-tax Act, 1961" (updated 2022).
Conditions for Revision:
Additional information or documents become available after the original report's submission.
There's a change in the tax laws or notifications that affect the original report.
Errors or omissions are discovered in the original report.
To revise a tax audit report:
Obtain written instructions from the assessee.
Document reasons for revision.
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