previous auditor
Querist : Anonymous
As i hv to communicate with previous auditor, plz give me the prescribed FORMAT so that i can send registery of the same to him.
Should i also wait 4 his reply before starting tax audit?
14th June, 2008
To,
M/s Agarwal & Co.,
Chartered Accountants
Kanpur (UP)
Sub: Appointment as the auditors of M/s Cipla Limited
Dear Sir,
We would like to inform that we have received a letter from Cipla Limited informing that the company at their annual general meeting held on 9th June, 2008 has appointed our firm as the Statutory Auditors of the company.
Being the retiring auditors, kindly give us your no objection letter to accept the assignment by us. In case if you have any observation or reservation, please inform us accordingly.
Thanking you,
Yours faithfully
M/s Subash & Co.
CHARTERED ACCOUNTANTS
PROPRIETOR
https://www.caclubindia.com/articles/resolutions-notices-letters-related-with-statutory-auditor-2928.asp
Querist : Anonymous
I hv no company at present.
Querist : Anonymous
Querist : Anonymous
1. **Form 3CD:**
- This is the main document for reporting various details related to the audit of a business or profession under Section 44AB of the Income Tax Act.
- It includes detailed information about the firm's financial statements, compliance with tax laws, and other statutory requirements.
2. **Form 3CA/3CB:**
- **Form 3CA** is used when the firm is already required to get its accounts audited under any other law (e.g., Companies Act, 2013).
- **Form 3CB** is used when the firm is not required to get its accounts audited under any other law.
- Both forms are used to certify that the tax audit report is prepared in compliance with Section 44AB.
### **Detailed Structure of Form 3CD:**
**Part A: General Information**
- **Clause 1:** Name, address, and PAN of the assessee.
- **Clause 2:** Status of the firm (e.g., partnership, proprietorship).
- **Clause 3:** Nature of business or profession.
- **Clause 4:** Previous year relevant to the assessment year.
**Part B: Financial Details**
- **Clause 5-10:** Details related to the financial statements, including the balance sheet, profit and loss account, and details of assets and liabilities.
**Part C: Compliance with Tax Provisions**
- **Clause 11-30:** Details regarding compliance with various tax provisions, such as maintenance of books of accounts, tax deductions at source, and tax payments.
**Part D: Other Compliance and Additional Information**
- **Clause 31-44:** Other relevant information, including details of the firm's income, expenditures, and other compliance requirements under different sections of the Income Tax Act.
### **Form 3CA/3CB Structure:**
**Form 3CA:**
- **Part A:** Details of the auditor and the audit report under other laws.
- **Part B:** Certification that the audit has been conducted in accordance with the Income Tax Act and that the auditor has examined Form 3CD.
**Form 3CB:**
- **Part A:** Details of the auditor and the audit report.
- **Part B:** Certification that the audit has been conducted in accordance with the Income Tax Act and that Form 3CD has been filed.
### **Sample Proforma for Tax Audit (for reference):**
Here is a simplified proforma for a tax audit of a proprietorship or partnership firm:
#### **Tax Audit Report (Form 3CD) - Proforma**
**Part A: General Information**
1. **Name of the Assessee:**
2. **PAN:**
3. **Address:**
4. **Status (Proprietorship/Partnership):**
5. **Nature of Business/Profession:**
6. **Previous Year:**
**Part B: Financial Statements**
1. **Balance Sheet as on [Date]:**
- Assets
- Liabilities
2. **Profit and Loss Account for the Year Ended [Date]:**
- Revenue
- Expenses
- Net Profit/Loss
**Part C: Tax Compliance**
1. **Books of Accounts Maintained:**
2. **Tax Deducted at Source (TDS) Compliance:**
3. **Tax Collected at Source (TCS) Compliance:**
4. **Advance Tax Payments:**
5. **Income Tax Return Filing:**
**Part D: Additional Information**
1. **Details of Loans and Advances:**
2. **Details of Investments:**
3. **Details of Other Income:**
#### **Tax Audit Report (Form 3CA/3CB) - Proforma**
**Form 3CA:**
1. **Details of Auditor:**
- Name
- Membership Number
- Firm Name
2. **Audit Report under Other Laws:**
- Details of compliance
3. **Certification:**
- Confirm that the audit was conducted in accordance with the Income Tax Act.
**Form 3CB:**
1. **Details of Auditor:**
- Name
- Membership Number
- Firm Name
2. **Certification:**
- Confirm that Form 3CD has been duly filled and the audit was conducted in accordance with the Income Tax Act.
**Note:** The proforma provided is for reference and may not cover all the specific details required. For precise and detailed audit reports, please refer to the latest versions of Forms 3CD, 3CA, and 3CB, and consult with a Chartered Accountant (CA) for accurate compliance.
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