23 August 2018
Dear Experts, I am a CA article and I filed a wrong tax audit u/s 44AB caluse 26 ((i) In respect of any sum referred to in clause (a), (b), (c), (d), (e) or (f) of section 43B, the liability for which (B) was incurred in the previous year and was (a) paid on or before the due date for furnishing the return of income of the previous year under section 139 (1);(AT THIS PLACE))) I ENTERED WHOLE AMOUNT OF THE GST PAID(say rs.50) IN THE YEAR AT ONE ROW THEN ADDED ANOTHER ROW ENTERED SERVICE TAX AND ENTERED AMOUNT (SERVICE TAX+GST (i.e 50+service tax) ). I am really in great depression after that. what could be the possible scenerio? please help help
23 August 2018
File revised tax audit report. TAX AUDIT ALREADY FILED REPORT CAN BE REVISED
Yes, it can be revised. However In case of revision, the audit report should be given in the manner suggested by the Institute in SA-560 (Revised) “Subsequent Events”. It may be pointed out that report under section 44AB should not normally be revised.
The revision of the Tax Audit report is directly related to taxation implications of the revised tax audit report. The reasons of subsequent events are defined, but some puerperal reasons are also justified to revise the Tax audit Report. Voluntarily filing a revised tax audit report income is not a time bound affair and it is well in the parameters with the compliance of the Income Tax.
24 August 2018
Sir , with due respect, Since there is NO place for disclosure of GST Paid in the whole year in ITR 5., is it still possible for mismatches. becoz in caluse 26, we have to meantion the taxes other than income tax, which are paid for furnishing the income tax return u/s 139(1). and There is no place in ITR for any such type of disclosure.
24 August 2018
OI caluse 10: Any amount disallowed under section 43B in any preceding previous year but allowable during the previous year a Any sum in the nature of tax, duty, cess or fee under any law SIR, the amount I disclosed in tax aduit report is more than i actually paid and all belongs to previous year not preceeding previous year and is also alowed in MY case is I have Paid a Certain amount of GST in previous year and a certain amount of Service tax in previous year but in tax audit report I have meantion GST=gst amt and service tax =serivice tax +GST(means GST have been reorted twice which is wrong)
24 August 2018
SiR tHANK YOU FOR YOUR INSTANT REPLY, AS PER CLAUSE 26 PART B (where i reported total gst and service tax Paid) *(i) In respect of any sum referred to in clause (a), (b), (c), (d), (e) or (f) of section 43B, the liability for which (B) was incurred in the previous year and was paid on or before the due date for furnishing the return of income of the previous year under section 139 (1); AT THIS PLACE I HAVE TO MENTION THE AMOUNT OF GST AND SERVICE TAXES THAT WERE PAYABLE AND ARE PAID BEFORE 30 SEPTMEBER FOR FURNISHING RETURN U/S 139(1) BUT WHAT I DID IS Ist mistake: I entered all the GST and service tax that are paid in the previous year i should have entered the amount that were payble after 31/3/2018 in balancesheet but paid beofre filling the return to make allowable . 2nd Mistake: I entered GST amount twice, so total taxes paid reported in tax report is higer than actually paid. AM I wrong about what is to be reported at this place Sir??
24 August 2018
26 In respect of any sum referred to in clause (a),(b), (c), (d), (e) or (f) of section 43B, the liability for which:- (A) pre-existed on the first day of the previous year but was not allowed in the assessment of any preceding previous year and was (a) Paid during the previous year.
Please read above the liability existing on 1st day of previous year not allowed during preceding previous year.
CAclubindia
