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
 You could lose section 80C tax benefit on EPF contribution; here's why
 Income Tax Return Filing: Why you should wait until June 15 to file ITR for FY 2023-24
 Section 43B of Income Tax Act: Expenses businesses can cover apart from payment to MSMEs
 Direct tax collections reflect disparities
 Dealing with income tax notices, intimations or letters? This new feature in ITR portal will make your life easier
 Income Tax Slabs FY 2023-24 & AY 2024-25 (New & Old Regime Tax Rates)
 How can Form 15G & Form 15H save TDS on interest income?
 How are e-filing and e-payment of taxes different? Know details here
 Income Tax return (ITR) filing 2024: What is Form 16, when is issue date and why is it crucial? Explained
 Step-by-Step Guide To File Income Tax Return FY 2023-24
 Income-tax filing: Should you file your returns in April or wait until July 31?

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 2024 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting