Tax audit report

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Querist : Anonymous

Querist : Anonymous (Querist)

01 December 2014 What is to be reported under this clause of tax audit report :

Amounts not credited to the profit and loss account being (b) the Proforma credits, drawbacks, refund of duty of customs or excise or service tax, or refunds of sales tax, where such credits, drawbacks or refunds are admitted as due by the authorities concerned.

Amol S Joglekar

Amol S Joglekar (Expert)
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01 December 2014 Sec 28 is the chargeability section. It gives the list of items to be charged as business income. This clause contemplates sec 28...the amounts which should have been credited to P & L as income...if missed out....report it under this clause of Tax Audit Report

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Querist : Anonymous

Querist : Anonymous (Querist)

04 December 2014 thanx, but same is covered under clause" items covered under Section 28 But not credited to Profit and loss Account" then y this clause?

Amol S Joglekar

Amol S Joglekar (Expert)
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12 December 2014 No harm in reporting TWICE.

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