The Income Tax Department on 25th July. 2014 with its Notification No. 33/2014, F.No.133/1/2014-TPL] has revamped the Tax Audit Report form 3CA, 3CB and 3CD. The new Tax Audit Report will be Applicable for filing done from A.Y. 2014-15 and onwards.
A lot of new points has been added to the new Audit report and many reporting has been changes. The relevant notification and the New report is attached here below for your reference:
A lot of new points has been added to the new Audit report and many reporting has been changes. The relevant notification and the New report is attached here below for your reference:
If the Tax Audit Report has been signed prior to 25th July 2014 in the old format, whether that Report would remain valid or it needs to be done in the revised format ?
ReplyDeleteYes, the report signed before 25th July will remain valid.
Deletewe have finished our audit in june. but not e-filed the report. can we file using the old form now ?
DeleteHi Renu,
DeleteNo you cannot file in Old Format, Income Tax has issued directions for it. Please read it from link below:
http://www.ngoandtaxconsultant.in/2014/07/income-tax-will-not-accept-tax-audit.html
The tax auditor has to stae whether the assessee has purchased shares of any unlisted company for consideration less than the fair market value. The issue for consideration is whether the tax auditor will determine the fair market value of such shares.
ReplyDelete