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Tax Audit Query.

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Krishna

Assistant

719 Points Posted on 22 September 2022

If the assessee has not filed the income tax return & tax audit report for the last year (Turnover more than 2 cr in last year). For this year tax audit applies then how to report preceding previous year figures in a 3CD report ?? The auditor is required to give a comment on opening balance verification because he cannot verify opening balances ??
plz reply
thnx in advance.

Replies (3)

Quick Summary

This discussion addresses a common query regarding tax audit reports when the income tax return and audit report for the previous year remain unfiled, despite exceeding the turnover threshold. It explores how to report preceding previous year figures in the current year's 3CD report and raises concerns about an auditor's ability to verify opening balances in such scenarios.