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We know that Firms are exempted for deducting TDS on Transporters if they provide PAN No.. So wat r Auditors Duties in this regard under Income Tax Audit of these Firms not deducting TDS ?
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Help in TDS audit
Replies (2)
FIrst make an extract of all the transporters which will be equal to your transporation or freight expense ledger....
then ask the party to give the PAN details...
cross check a few entries
1) They have to mention their PAN in their Bills.
2) Obtain xerox copy of their PAN & keep it in a master file.
3) If its in large volume make a sample checking other wise check thePAN & mentioned in the Bill are the same other wise you have to shell out 20%
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