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Help Me In TDS

Rahul Bansal (Finalist) (35929 Points)

07 January 2011

What is the procedures to "AUDIT TDS" ?

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5 Replies

Priyank (Learner) (98 Points)
Replied 07 January 2011

Dear Rahul,

1. Collect Partywise Expense details.

2. Determine the expenses where TDS need to be deducted

3. Check the TDS rate

4. Check if Form 15G/ 15H / Lower Tax deduction Certificate is given. Also check if said certificates are submitted to TDS Range AO in time

5. Determinre date of payment of TDS from Challan (see if Interest is paid on late payment of TDS)

6. Cross check the TDS Return summary with the Summary details for Quarterly TDS

7. In case of Salary, see if copies of 80C, 80D investments or other deductions proof is submitted by the employee

Thats it!

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Harpreet (* * * * * *) (1670 Points)
Replied 07 January 2011

Yes above comments of TDS Audit is 100% correct. Go Ahead Mr. Rahul with this point in your mind...

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@ CA. $ahar$h @ (Student) (338 Points)
Replied 07 January 2011

Great points by Prinyank.I would like to add a little thing.Many a time these logistics people and job work ppl mention on the bill that no tds has to be deducted.(I have seen it mostly in Gurgaon).and they give our client a certificate for not deducting tds or to deduct it at a lower rate.then in that case dost do check the date and period of the certificate.as I found a certificate 2 years old.

another thing in case of unsecured loans and interest there on do check if tds has been deducted.

Do go through Tax audit report I.e form 3CD.there are few points regarding tds that you have to report on.also keep those points in mind while auditing.

Good hunting bro.

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