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Disallowanc U/s 40A (2)
Point No. 9 of ITR 4 / 5 : Disallowance for Payment to Relatives U/s 40A (2) : As per said section, AO has to disallow the payment to relatives, if it is in excess payment.. How an auditor can verify the same
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AS AUDITOR ONE HA TO HAVE GENERAL KNOWLEDGE OF BUSINESS & ECONOMIC SCNARIO .AUDIITOR MUST APPLY THE MIND TO JUDGE THE TIME REQUIRED TO DO THE RESPONSIBILTY POSED , SKILL REQUIRED TO PERFORM THE DESIRED JOB , QUALIFICATION OF PERSON PERFORMING THE DESIRED JOB , FURTHER CHARGES THAT MAN OF SAME COMPETENCE WOULD CHARGE IF SAME REPONSIBILITY IS DISCHARGED BY IT .HIKE IN INDUSTRY
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