Tax Audit Programe Sheet for Non-corporate Business Entities

TAX AUDIT PROGRAMME SHEET FOR NONCORPORATE BUSINESS ENTITIES
CLIENT NAME : ……………………………………….
AUDIT FOR THE YEAR ENDED : …………………………….
QUALIFIED IN CHARGE : ……………………………..
STARTING DATE: ……………………….
COMPLETION DATE: …………………………
AUDIT TEAM 
1.
2.
3.
4.

Sl No. Area / Extend of checking Done (Yes/No/NA) Done by (Name) Working Done (Yes/No/NA)
1.         a)  Opening balance verification
b)                    If there is any difference prepare a summary of differences as given in Working No. 1
2.         a)  Sales vouching (Working No.2)
b)                    Sales variance analysis (Working No.3)
c)   Verify cutoff procedures. (i.e, ensure that goods against which bills raised has been removed from stock and vice versa)
d)                    Verify all taxes has been separately accounted.
3.         a)  Purchase vouching (Working No.4)
b)                    Purchase variance analysis (Working No.5)
c)   Verify cutoff procedures. (i.e, ensure that all goods received has been accounted as purchase and vice versa)
d)                    Verify all taxes against which credit is available has been separately accounted.
4.         a)  Expense vouching (Working No.6)
b)                    Expense variance analysis (Working No.7)
c)   Verify prepaid expenses have been properly accounted in case of expenditure for a specific period (Working No.8)
d)                    Payments otherwise than by an account payee cheque or account payee bank draft for an amount exceeding Rs.20,000.00 (Working No.9)
e)                    Expenses against which TDS has not been deducted (Working No. 10)
f)   Expenses against which TDS has been deducted at a lesser rate (Working No. 11)
5.         a)  Verify additions to fixed assets with supporting vouchers (Working No. 12)
b)                    Ensure rate of depreciation has been consistently followed.
c)   Verify TDS non deduction and short deduction where ever applicable. (Working No. 13(A) & 13(B))
d)                    Verify addition to capital work-in-progress with supporting vouchers (Working No. 14)
6.         a)  Verify loan from bank and other financial institutions with confirmation and also verify payment of interest outstanding at the yearend.(Working No. 15(A) & 15(B))
7.         a)  Very computation of deferred tax and its components. (Working No. 16)
8.         a)  Verification of other liabilities with supporting documents and obtain confirmation for major balances. (Working No. 17)
9.         a)  Prepare workings for items not mentioned above.

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