Tax audit
This query is : Resolved
SUNNY SEHGAL
(Querist)
29 June 2012
Sir
Can any one provide me with the points which are to be checked in respect to Tax Audit of a company whose nature of business i.e. (primarily engaged in providing Online information & data)
Can any one provide me with the points which are to be checked in respect to Tax Audit of a company whose nature of business i.e. (primarily engaged in providing Online information & data)
Guest
Guest
(Expert)
29 June 2012
Obviously start with opening balances,
then go on to see cash and bank transactions to understand the type of payments made and amounts received,
Then see the services provided;
check whether TDS is deducted accordingly,
they might be charging service tax, Check the ST-3 and if payment is paid within due date,
ST should be separately charged in the bill.
then go on to see cash and bank transactions to understand the type of payments made and amounts received,
Then see the services provided;
check whether TDS is deducted accordingly,
they might be charging service tax, Check the ST-3 and if payment is paid within due date,
ST should be separately charged in the bill.
Guest
Guest
(Expert)
29 June 2012
Now that you have mentioned that its a company, you should check the payment made to directors and sister concerns.
Ledger scrutiny will come in the end.
Ask for bank reconciliation, debtors reconciliation, check exp under 40a(3),etc.
Ledger scrutiny will come in the end.
Ask for bank reconciliation, debtors reconciliation, check exp under 40a(3),etc.
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