TAX AUDIT

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Clause 17 (h) Payments made othehrwise than by A/c Payee cheque Aggregate payment in a day - in cash or by bearer cheque - in excess of Rs. 20,000 - entire amount disallowed. Examine on test check basis- report with appropriate comments if no proper evidence for verification of payment is available. Obtain a list of payment made in cash from client. Quantify amount of disallowance - transaction wise Exceptions provided in rule 6DD – where no disallowance is attracted. KALYANIWALLA & MISTRY
Clause 17 (i) provision for payment of gratuity not allowable under section 40A(7) Provision made for gratuity shall be allowed only if contribution is to an approved gratuity fund or it is towards gratuity paid during the year Approval granted to the fund by the commissioner of income tax should be verified (j) any sum paid by the assessee as an employer not allowable under section 40A(9) Verify whether contribution is to recognized PF/approved superannuation fund/prescribed pension fund or approved gratuity fund. KALYANIWALLA & MISTRY
Page 1 and 2: CLAUSE - 12A to 21, 25 to 27 KALYAN
Page 3 and 4: Clause 13 Amounts not credited to
Page 5 and 6: Clause 13 (d) any other item of inc
Page 7 and 8: Clause 14 Any interest paid on mon
Page 9 and 10: Clause 16 (a) Any sum paid to an em
Page 11 and 12: Clause 17 Amounts debited to the p
Page 13 and 14: Clause 17 (d) expenditure incurred
Page 15 and 16: Clause 17 If the tax is deducted an
Page 17: Clause 17 (g) interest, salary, bon
Page 21 and 22: Clause 17 (l) amount of deduction i
Page 23 and 24: Clause 17A Amount of interest inad
Page 25 and 26: Clause 19 Amounts deemed to be pro
Page 27 and 28: Clause 21 In respect of any sum re
Page 29 and 30: Clause 25 Details of brought forwa
Page 31 and 32: Clause 26 Section-wise details of
Page 33 and 34: Clause 27 Tax not deducted at all

TAX AUDIT

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