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. |