Taxmann Tax Audit 2022

Taxmann Tax Audit 2022 Description

This book comprehensively provides the following:

• [Commentary on Tax Audit] with reference to its applicability to various assessees and appointment of the tax auditor
• [Clause-wise Commentary] on the following:
  • Form 3CA
  • Form 3CB
  • Form 3CD
  • Clause 30C of Form 3CD pertaining to GAAR, explained with foreign case laws

The Present Publication is the 14^th Edition, authored by CA Srinivasan Anand G. This book is updated by the Finance Act, 2022 with the following noteworthy features:

• [Requirements of various Clauses] of Form 3CA, Form 3CB & Form 3CD are discussed with reference to the following:
  • e-Filing Utility requirements
  • Relevant Legal Provisions
  • Case Laws
  • CBDT Clarification
  • Views of the ICAI
• [Income Computation and Disclosure Standards (ICDS)] explained with the following:
  • Application Guide for each ICDS
  • Differences between Ind AS/AS & ICDS
  • Statements showing adjustment for variations between Ind AS/AS and ICDS
  • Relevant latest amendments on Ind AS are incorporated
• [Checklists] are provided for various clauses of Form 3CD
• [Presumptive Tax Provisions] of sections 44AD, 44ADA and 44AE are explained along with the pros & cons for opting them
• [Tax Audit Ready Reckoner] are provided in this book on the following:
  • Audit of Cash Transactions
  • Audit of Share Capital
  • Audit of Loans, Borrowings and Deposits
  • Sale of Immovable Property
  • Applicability of various clauses to different assessees
  • Clause of Form 3CD not applicable to assessees following cash basis of accounting
  • Form 3CD – Clause-wise applicability reckoner of ICDS
  • Statutory provisions relevant to various clauses of Form 3CD

The structure of this book is as follows:

• Chapters 0 – 14 provide the obligation of an entity to get the accounts audited u/s 44AB, which is explained in light of presumptive taxation provisions along with the following:
  • Case Laws
  • Latest ITR Forms
  • Views of ICAI
• Chapters 15 – 65 provide a clause-wise commentary on Form 3CD with a Tax Audit checklist for each clause. Linkages with other clauses of Form 3CD, i.e., how remarks on a particular clause impact report under other clauses, are provided in this book. Each clause is explained in light of the following:
  • e-Filing utility requirements
  • Relevant Legal Provisions
  • Case Laws
  • CBDT’s Clarifications
  • ICDS
  • Views of ICAI

Taxmann Tax Audit 2022