TAX AUDIT
TAX AUDIT
TAX AUDIT
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Clause 18<br />
Particulars of payments made to persons specified<br />
under section 40A(2)(b)<br />
The list of persons covered by the section is quite wide and<br />
identification of such relationship can be difficult for the<br />
auditor.-Obtain a certificate to that effect from the<br />
management<br />
For cross verification, compare the list with related party<br />
disclosure in the audited accounts and entries in register<br />
maintained u/s 301 of the Companies Act<br />
The reporting is only for payments made and not for<br />
amount received.<br />
The auditor to only report the amounts paid and not<br />
required to give his opinion on reasonability thereof.<br />
KALYANIWALLA & MISTRY