TAX AUDIT

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Clause 15 Amounts admissible under sections 33AB, 33ABA, 33AC , 35, 35ABB, 35AC, 35CCA, 35CCB, 35D, 35DD, 35DDA and 35E. (a) debited to the profit and loss account (showing the amount debited and deduction allowable under each section separately) Accounts to be scrutinized to identify the amount which is debited to profit and loss account (b) not debited to the profit and loss account Where deduction is available for consecutive years, deduction available in subsequent years, though the amount is not debited to profit and loss account. Deduction claimed in the first year of claim be verified. Whether considered in DTA/DTL calculation , depreciation not available on exp written off. KALYANIWALLA & MISTRY
Clause 16 (a) Any sum paid to an employee as bonus or commission for services rendered, where such sum was otherwise payable to him as profits or dividend. [Section 36(1)(ii)]. This provision is intended to check private companies from avoiding tax by distributing its profits to the shareholders in the guise of salary or to other remuneration by merely showing them as employees Bonafide payment to a shareholder for services actually rendered would be allowed When any shareholder is paid any salary, his employment contract, nature of services actually rendered be verified 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: Clause 14 Any interest paid on mon
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 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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