Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
Top Headlines »
Open DEMAT Account in 24 hrs
 Haven't got your income tax refund yet? These could be the 5 reasons
 How to rectify errors in an income tax challan online via the e-filing portal? A step-by-step guide
 How sale of foreign shares is taxed in India
 How to structure your salary to reduce your tax burden

DTBA holds seminar on new audit tax report filing norms
September, 08th 2014

The District Taxation Bar Association (direct taxes) organised a seminar to discuss new tax audit report and service tax norms at ICAI Bhawan under the guidance of president Anoop Jain and secretary Sanjeev Bhandari on Sunday.

Advertisement
On this occasion, chartered accountant (CA) PC Goyal said that new tax audit report filing necessitated that taxpayer had to disclose the physical location of the books of accounts, and if he/she had sold the land and building less than the stamp, duty then that had also to be brought to the notice of the department.

CA Vishal Garg said, "According to clause 4 of the tax audit filing norms, if the taxpayer has any debtors, pending VAT or any indirect taxes information has to be disclosed."

The recent changes made in the tax audit filing report did not go down well with many taxpayers. According to them the move by the CBDT not only lengthens the process of filing audit report, but is also very complex to understand. It is pertinent to mention here that the columns for service tax registration number, VAT number, TDS account number and default details are some of the new columns among the 12 new columns that were recently introduced by the CBDT as part of the recent amendments to streamline and make the tax filing procedures more transparent.

Bhandari said, "The responsibility of the tax auditor has increased manifold now, the IT department through audit will be scrutinising information pertaining to direct/indirect taxes."

Jain recommended all members to maintain an independent tax audit report. CA Susheel Bakhoo, advocate Hari Om Arora and CA Vikash Sharma were also present among the other members of the association.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2023 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting