Paresh Vakharia 3 10 07 - Bombay Chartered Accountants Society

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SYNOPSIS An An overview of section 44AB of Income Tax Act. Audit Audit Report in Form 3CB. Applicability Applicability of the Accounting standards in the case of Non corporate assessees. Application Application of Materiality concept. Issues Issues arising from certification of particulars in Form No.3CD. General General Issues. CA PARESH VAKHARIA 3rd OCT' 20<strong>07</strong> 2
An overview of section 44AB of Income Tax Act. Every person,- person, (a) carrying on business shall, if his total sales, turnover or gross receipts, as the case may be, in business exceed or exceeds forty lakh rupees in any previous year; or (b) carrying on profession shall, if his gross receipts in profession exceed ten lakh rupees in any previous year; or (c) carrying on the business shall, if the profits and gains from the business are deemed to be……… get his accounts of such previous year audited by an accountant before the specified date and furnish by that date the report of such audit in the prescribed form duly signed and verified by such accountant and setting forth such particulars as may be prescribed: Provided that this section shall not apply……… CA PARESH VAKHARIA 3rd OCT' 20<strong>07</strong> 3
Page 1: A Presentation by CA Paresh Vakhari
Page 5 and 6: Audit Report in Form 3CB Modificat
Page 7 and 8: Certification of prescribed particu
Page 13 and 14: Value of Fringe Benefits (annexure
Page 15: T H A N K Y O U V E R Y M U C H CA

Paresh Vakharia 3 10 07 - Bombay Chartered Accountants Society

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