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Bank Audit reporting

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73 Points Posted on 25 June 2021
Can anyone please explain to me how is tax audit of a bank branch is filed, is it different from normal tax audit filing, do branches have separate PAN for adding CA for the respective branches? and also where do we submit LFAR and other certificates.
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On 25 June 2021 at 23:47 Report
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Chartered Accountant
24588 Points Posted on 26 June 2021
You should follow banks tax audit guidelines by requesting bank managerial personnel the audit manual and previous audit reports
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On 26 June 2021 at 09:22
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73 Points Posted on 26 June 2021
Can you please explain how you did it from your peactical experience?
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On 26 June 2021 at 12:01
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Chartered Accountant
24588 Points Posted on 26 June 2021
You should check out the bank tax audit manual report by asking the manager and also the acknowledgement guidelines of audit if banks issued by head office of bank
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On 26 June 2021 at 13:19
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BUSINESS DEVELOPMENT MANAGER
1697 Points Posted on 15 September 2021

The matters which the banks want the auditors to check is been prescribed by RBI. The time limit for submission of LFAR is 30th June. An auditor should plan the audit for timely submission of LFAR. An auditor can give an executive summary of the LFAR is they feel its required.

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On 15 September 2021 at 14:53


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