TAX AUDIT

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Clause 18 Particulars of payments made to persons specified under section 40A(2)(b) The list of persons covered by the section is quite wide and identification of such relationship can be difficult for the auditor.-Obtain a certificate to that effect from the management For cross verification, compare the list with related party disclosure in the audited accounts and entries in register maintained u/s 301 of the Companies Act The reporting is only for payments made and not for amount received. The auditor to only report the amounts paid and not required to give his opinion on reasonability thereof. KALYANIWALLA & MISTRY
Clause 19 Amounts deemed to be profits and gains under section 33AB or 33ABA or 33AC Amounts withdrawn from the reserves or utilized for nonspecified purposes be verified and disclosed. 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 and 18: Clause 17 (g) interest, salary, bon
Page 19 and 20: Clause 17 (i) provision for payment
Page 21 and 22: Clause 17 (l) amount of deduction i
Page 23: Clause 17A Amount of interest inad
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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