E-filing of IT returns for tax audit cases

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I have a professional income of25Lakhs for the AY 2011-12. and I believe that my account is subjected to tax audit. Recently, my auditor filed ITR-4 with my Digital Signature. Also he forwarded the copy of the ITR with the computation of income. The documents ( both ITR-4 and Comptation Statements) does not contain the auditor's signature for having done the tax audit.

He still have to submit me the Balance Sheet and P&L Statements. My question is: 

1. Is it ok to have the Computation of Income and ITR-4 without the auditor's signature  ?

2. When do I require the Balance Sheet and P&L Statement duly audited by the auditor ?  In otherwords, do I have to file the audited Balance Sheet and P&L Statement to the IT Department  or to any other department ?

Thanks.

Replies (6)

Well,

Auditor will not sign on IT Computation and Return Filed

As his duty is to Verify whether your financial statements are depicting True and fair view and he need to consider Financial Statments from Income Tax point of view, like is there any disallowances of expediture, whether all statutory duties are duly paid and other provisions of Income Tax Act

 

After completion of Audit, he will provide you with Attested Financial (P & L, BS, Capital A/c) 

So, IT Cal, ITR-4 won't have his signature, But you can find the details of auditor who done the Tax audit in ITR-4, First sheet itself, thats the only proof

You have to get following Docs

1) Signed P&L and Balance Sheet (Dated as mentioned in ITR-4 as Tax Audit Date)

2) Audit Report in Form 3CB and Form 3CD (Main Tax Audit Report)

 

you are not required to submitt these to any one, keep them for future reference

Thanks Prakash. Your inputs are usefull. Keep up the good work !! Regards, Krishnamurthy

you are welcome sir

Nice Explanation bro

Hi,

One more query...What if the auditor do not provide me the Auditor's Reports in the prescribed format (Form 3CB and Form 3CD) and also do not provide me the Balance Sheet and P&L  Statement duly signed by the auditor ?

My concern stems from the fact that, he should have been ready with all these documents atleast before 30th Sept.  He is now pushing it beyond Sept 30th !! I am not sure whether it woud come along even in Oct'11 !!

In such situations, what are the options available to me ? I know, I am being too cautious...but that's the way I manage my deemed risk. Thanks, Krishnamurthy

Well, 

Generally All auditors will issue Audit reports after September only, "cause they are busy with Tax auidts upto 30th sep

So do't bother abt it, definitely he will provide you with audit report


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