Regarding revised schedule vi
This query is : Resolved
04 August 2012
Can a company follow old schedule vi for income tax purpose i.e for tax audit .and Revised schedule vi for Statutory Audit as the period are different for Tax audit & Statutory Audit?
04 August 2012
You may consider the time factor also in preparing two different Balance Sheets.
.
At the time of e-filing you have to fill up the Data in ITR according to the prescribed new format. This fact must also be kept in
the view.
.
Considering the above, it is better to adopt the changes as fast as we can.
.
Tax Auditors certify the Statement of particulars vide Form 3CD, but the prescribed Tax Audit Report in Form 3CA vide clause (c) contains a reference to that particular other act/law under which the financial statements are to be prepared. So, logically, the dates are not relevant here, the statute under which audit is carried out is more important here .
.
At the time of e-filing you have to fill up the Data in ITR according to the prescribed new format. This fact must also be kept in
the view.
.
Considering the above, it is better to adopt the changes as fast as we can.
.
Tax Auditors certify the Statement of particulars vide Form 3CD, but the prescribed Tax Audit Report in Form 3CA vide clause (c) contains a reference to that particular other act/law under which the financial statements are to be prepared. So, logically, the dates are not relevant here, the statute under which audit is carried out is more important here .
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Sale of Equity shares for Purchase of Residential Property
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- ECO SUPPLY REPORTIONG IN GSTR-1
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- CCFS 2026 Schemed
- Subscription paid to foreign customer
- Two seprate Invoice needed
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
