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Bank Audit reporting
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.
Replies (4)
Quick Summary
You should follow banks tax audit guidelines by requesting bank managerial personnel the audit manual and previous audit reports
Can you please explain how you did it from your peactical experience?
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
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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