Categories: Tax Audit

Clause 44 of Tax Audit under Income tax Act

Page Contents

Toggle

ICAI issue guidance Note on Clause 44 of Tax Audit under Income tax act?

ICAI issue Guidance Note provides basic guidance to CA members while conduct of tax audit, making of report & related income tax Filling matters

Break up of expenditure in Total is to be given and not head wise.
Bad debts, Depreciation etc. which are not expenses are not to be reported.
Transactions covered under Schedule III of Central Goods and Services Tax (CGST) Act not to be reported in any column viz. Salary expenditure etc.
Expenditure on petroleum crude, motor spirit, Alcohol, natural gas, high speed diesel oil & aviation turbine fuel are covered under meaning of exempt supplies.

Whether Reporting of Clause 44 of Form 3CD is applicable for AY 2022-23?

Ans: Yes

Complete Tax audit Update

ICAI issue Tax Audit Guidance Note issued for Assessment Year 2022-23 (including Clause 44 which is applicable from AY 2022-23).

Popular Articles related to Tax Audit:

Tags: ‘Tax Audit Report and Income Tax Return

3 years ago

Rajput Jain & Associates

Rajput Jain & Associates is a Chartered Accountants firm, with it's headquarter situated at New Delhi (the capital of India). The firm has been set up by a group of young, enthusiastic, highly skilled and motivated professionals who have taken experience from top consulting firms and are extensively experienced in their chosen fields has providing a wide array of Accounting, Auditing, Taxation, Assurance and Business advisory services to various clients and their stakeholders. Rajput jain & Associates, a professional firm, offers its clients a full range of services, To serve better and to bring bucket of services under one roof, the firm has merged with it various Chartered Accountancy firms pioneer in diversified fields. We have associates all over India in big cities. All our offices are well equipped with latest technological support with updated reference materials. We have a large team of professionals other than our Core Team members to meet the requirements of our prospective clients including the existing ones. However, considering our commitment towards high quality services to our clients, our team keeps on growing with more and more associates having strong professional background with good exposure in the related areas of responsibility.