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CAG


CAG report on Direct taxes

Highlights The Comptroller and Auditor General of India conducts the audit of receipts of the Union Government under section 16 of the Comptroller Auditor General of India (Duties, Powers and Conditions of Service) Act, 1971. This Report primarily discusses compliance to the provisions of the Income Tax Act, 1961 and the associated rules, procedures, directives etc. as applied to all aspects related to the administration of direct taxes. The report is organised into seven chapters, the h..

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Highlight of the CAG report on Direct Taxes

Highlights The Comptroller and Auditor General of India conducts the audit of Receipts from Direct Taxes of the Union Government under section 16 of the Comptroller Auditor General of India (Duties, Power and Conditions of Service) Act, 1971. This Report discusses direct taxes administration, audit mandate, products & impact and findings of compliance audit including fictitious sales and purchases by shell companies/hawala operators, functioning of Directorate of Income Tax (Infrastructur..

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Last date for online submission of CAG application extended to 23 Feb

Extension of the Last date for submission of online application for empanelment of Chartered Accountants firms/LLPs with O/o C&AG for the year 2017-18 Considering the difficulties faced by Chartered Accountant firms/LLPs in submitting the online empanelment for audit of PSUs for the year 2017-18, the office of C&AG at the request of ICAI has extended the last date for submission of the said application from 15th February, 2017 to 22nd February, 2017 as a onetime relief. Furt..

Posted in news |   1064 Views


CAG Readies to Meet Big Data Challenges

CAG Readies to Meet Big Data Challenges Shri Shashi Kant Sharma Inaugurates Centre for Data Analytics  The CAG’s Centre for Data Management and Analytics (CDMA) is going to play a catalytic role to synthesise and integrate relevant data into auditing process. This was stated by the Comptroller and Auditor General of India while inaugurating the Centre here today. He said the CDMA will help to enhance the efficiency and accuracy of evidence in the audit process and will be a game ch..

Posted in news |   683 Views


No Service Tax Audit by the Service Tax Department or CAG

We are sharing with you an important judgement of the Hon’ble Delhi High Court in the case of Mega Cabs Pvt. Ltd. Vs. Union of India And Ors [2016-TIOL-1061-HC-DEL-ST] on the following issue: Issue: Whether Service Tax Department or CAG can conduct Service Tax Audit? Whether substituted Rule 5A(2) of the Service Tax Rules, 1994 (“the Service Tax Rules”) is ultra vires the provisions of the Finance Act, 1994 (“the Finance Act”)? However, before dwell..

Posted in articles |   1622 Views


Provisional panel of CA Firms with CAG to be hosted on 25th April

This is to inform that O/o C&AG is hosting the Provisional Panel of Chartered Accountant firms/LLPs for the year 2016-17 for indicating the position (detailed point score) of the firms.  The provisional panel will be available at www.saiindia.gov.in from 25 April to 04 May, 2016. Representation/Queries, if any, for clerical mistake in the online data only may be sent to sao2ca5@cag.gov.in by 04 May, 2016.  For any query/iss..

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Simplification of procedure to deal with audit objections raised in indirect taxes by CAG

Central Board of Excise and Customs (CBEC) has issued a circular to simplify the procedure of dealing with audit objections raised in indirect taxes by the office of CAG. The Circular rescinds all the past circulars and instructions and prescribes a new simplified and consolidated procedure. The Circular No. is 1023/11/2016 CX dated 08/04/2016 has been attached herewith. Taking note of the fact that revenue and audit have agreement on large proportion of the audit objections, the revised Circ..

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Remedial action on revenue audit objections raised by CAG

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Sub: Modification of Instruction No. 9/2006 dealing with remedial action on Revenue Audit Objections not accepted by the Department– reg. The guidelines and procedure for attending to objections raised in the course of audit of assessment work by the Comptroller and Auditor General of India (Revenue Audit) are laid down in the Instruction No of 2006 issued by the Central Board of Direct..

Posted in news |   2 comments |   2553 Views


CAG empanelment last date extended to 22nd Feb

The last date for submission of online application form for Empanelment with O/o C&AG for the year 2016-17 for audit of PSUs is extended to 22nd February, 2016 as a one time relief. Online application can be filled at http://cagofindia.delhi.nic.in/caregistration/ at the earliest to avoid the last minute rush as no further extension would be made.  Further, the last date for receipt of documents at O/o C&AG is 15th March, 2016 which would not be extended. Kindly submit ..

Posted in news |   2533 Views


Empanelment of CA Firms with CAG for 2016-17

OFFICE OF THE COMPTROLLER AND AUDITOR GENERAL OF INDIA 9, DEEN DAYAL UPADHYAYA MARG, NEW DELHI-110124. Empanelment of Chartered Accountant firms/LLPs for the year 2016-2017   Online Applications are invited from the Chartered Accountant firms/LLPs who desire to be empanelled with the office of the Comptroller and Auditor General of India for appointment as auditors of Government Companies/Corporations for the year 2016-2017. The online application format will be available on our webs..

Posted in news |   7342 Views


Group formed pursuant to CAG report on performance audit

1.  Pursuant to C&AG’s Report `Performance Audit on Appreciation of Third Party (Chartered Accountants) - Reporting in Assessment Proceedings’ for the year ended March, 2014, the President, in terms of the authority given to him by the Council at its 340th meeting held in February, 2015, had constituted the Group comprising of the following members: CA. Sanjiv Kumar Chaudhary, Convenor CA. G. Sekar CA. Tarun Jamnadas Ghia CA. Sumantra Guha CA. Anuj Goyal ..

Posted in news |   1 comments |   2921 Views


Last date for empanelment status of CA firms with CAG is 6th May

Last date for provisional empanelment status of Chartered Accountants firms/LLPs with the O/o C&AG for the year 2015-16 is 6th May, 2015. - (05-05-2015)   The Provisional Panel of Chartered Accountant firms/LLPs for the year 2015-16 for indicating the position (detailed point score) of the firms is hosted by O/o C&AG at http://cagofindia.delhi.nic.in/caregistration/Default.aspx upto 6th May, 2015.  The O/o C&AG has clarified that representations/querie..

Posted in news |   3933 Views


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