CHECK LIST FOR TAX AUDIT
- Copy of appointment letter and acceptance thereof.
- Comparison with the last years Audit Report if available.
- VAT, Service Tax Registration Numbers- Assessment and return filing status to be furnished.
- Check the Digital signature of Client and Chartered Accountant and confirm that the digital signatures are not expired.
- Login into the income tax website using client’s login prior to uploading Tax audit forms so that no contact details update problem arises.
- Keep the passwords of digital signature ready.
- Confirm that chartered Accountant details are available like Pan No, Membership No, Address etc.
- Stock details of client’s business are required- obtain signed stock statement and keep it in file
- Are there any observations to be made?
- Any inadmissible expenses are to be provided for.- prepare a list , get it signed and keep it in the file for reference
- Check for Loans and repayment thereof comply with section 269SS and 269T.Obtain a Certificate from the Client.
- Confirm that Balance sheet and Profit and loss Account are signed both by the Auditor(with Stamp) and the Client and are scanned and converted into PDF.
- Tally data of client should be copied into CD’s.
- Confirm that data entered in is correct. Double check is required.
- Scrutinize the expenses debited to P& L Account, particularly the following expenses like telephone expenses, vehicle maintenance, travelling expenses, repairs and maintenance and bank charges.
- Advertisement expenditure (in case of souvenir, brochure, tract, pamplet) is inadmissible.