643377 41535 Income Tax Audit Report

8/4/2019 643377 41535 Income Tax Audit Report

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FORM NO. 3CA

[See rule 6G(1)(a)]u repor un er sec on o e ncome- ax c , , n a case w ere e

accounts of the business or profession of a person have been audited under any other

* I/We report that the statutory audit of _________________________________________ [mention

name and address of the assessee with permanent account number] was conducted by * me/us/M/s.

__________________________ in pursuance of the provisions of the ___________________ Act, and *

1. I/we annex hereto a copy of * my/our/their audit report dated __________along with a copy each of

(a)the audited * profit and loss account/income and expenditure account for the year ended on 31st

(b)the audited balance sheet as at 31st March, _______; and

(c)documents declared by the said Act to be part of, or annexed to, the * profit and loss

account/income and expenditure account and balance sheet.

2. The statement of particulars required to be furnished under section 44AB is annexed herewith in

3. In * my/our opinion and to the best of * my/our information and according to explanations given to

* me/us, the particulars given in the said Form No. 3CD and the Annexure thereto are true and correct.

Place: Name :

Date: Address :


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FORM NO. 3CB

[See rule 6G(1)(b)]

Audit report under section 44AB of the Income-tax Act, 1961 in the case of a person

referred to in clause (b) of sub-rule (1) of rule 6G

1. * I/We have examined the balance sheet as at 31st March ______________________________________ ,and

the * profit and loss account/income and expenditure account for the year ended on that date, attachedherewith, of ___________________________________________ mention name and address of the assessee

2. * I/We certify that the balance sheet and the * profit and loss account/income and expenditure account are in

agreement with the books of account maintained at the head office at ______________________ and **

3. (a) * I/We report the following observations/comments/discrepancies/inconsistencies; if any:

(b) Subject to above,-

(A) * I/We have obtained all the information and explanations which, to the best of * my/our knowledge and

belief, were necessary for the purposes of the audit.

(B) In * my/our opinion, proper books of account have been kept by the head office and branches of the

assessee so far as appears from * my/our examination of the books.

(C) In * my/our opinion and to the best of * my/our information and according to the explanations given to *me/us, the said accounts, read with notes thereon, if any, give a true and fair view:-

(i) in the case of the balance sheet, of the state of the affairs of the assessee as at 31st March, _________; and

(ii) in the case of the * profit and loss account/income and expenditure account of the * profit/loss or *

surplus/deficit of the assessee for the year ended on that date.

4. The statement of particulars required to be furnished under section 44AB is annexed herewith in Form No.

5. In * my/our opinion and to the best of * my/our information and according to explanations given to * me/us,

the particulars given in the said Form No. 3CD and the Annexure thereto are true and correct.

Place: Name :

Date: Address :


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M/s.Proprietor

2 Address : Mumbai

3 Permanent Account Number :

4 Status : Individual

5 Previous year ended : 31st March, 2011

6 Assessment year : 2011-2012

(In case books of account are maintained in a computer system,

mention the books of account generated by such computer system.)

All the Books are Generated through Computerise

Accounting System

(c) List of books of account examined. As Above

11 (a) Method of accounting employed in the previous year. Mercantile

12 (a) Method of valuation of closing stock employed in the previous year. At Cost or market Value Whcihever is Lower. However a

informed to us, the assessee deals in various items and henc

it is not possible for them to maintain day to day inventorie

of goods. The assessee has taken the year end closing stoc

and certified the value of the same

Name of the assessee :1

(b) If there is any change in the nature of business or profession, the

particulars of such change.

Not Applicable

(a) Whether books of account are prescribed under section 44AA, if

yes, list of books so prescribed.

No

Whether the profit and loss account includes any profits and gains

assessable on presumptive basis, if yes, indicate the amount and the

relevant sections (44AD, 44AE, 44AF, 44B, 44BB, 44BBA, 44BBB or any

other relevant section).

Not Applicable

(a) If firm or Association of Persons, indicate names of

partners/members and their profit sharing ratios.(b) If there is any change in the partners or members or in their profit

sharing ratio since the last date of the preceding year, the particulars

of such change.

(b) Books of account maintained. 1.Sales Register 2.Purchase Register 3.Cash Book 4.Ban

Book 5.Journal 6.Ledger 7.Stock Register

FORM NO. 3CD

[See rule 6G(2)]

Statement of particulars required to be furnished under

section 44AB of the Income-tax Act, 1961

PART A

PART B

7

8

9

10

(b) Details of deviation, if any, from the method of valuation prescribed

under section 145A, and the effect thereof on the profit or loss.

Not Applicable

(b) Whether there has been any change in the method of accounting

employed vis-a-vis the method employed in the immediately preceding

previous year.

No

(c) If answer to (b) above is in the affirmative, give details of such

change, and the effect thereof on the profit or loss.

Not Applicable

Not Applicable(d) Details of deviation, if any, in the method of accounting employed

in the previous year from accounting standards prescribed under

section 145 and the effect thereof on the profit or loss.

(a) Nature of business or profession (if more than one business or

profession is carried on during the previousyear, nature of every

business or profession).


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(a) Description of capital asset; Not Applicable

(b) Date of acquisition; Not Applicable

(c) Cost of acquisition; Not Applicable

(d) Amount at which the asset is converted into stock-intrade., Not Applicable

13 Amounts not credited to the profit and loss account, being,

(a) the items falling within the scope of section 28; Nil

(c) escalation claims accepted during the previous year; Nil

(d) any other item of income; Nil

(e) Capital receipt, if any. Nil

14 Particulars of depreciation allowable as per the Income-tax Act, 1961 in

respect of each asset or block of assets, as the case may be, in the

following form :

Annexure : 1

(a) Description of asset/block of assets.

(b) Rate of depreciation.

(c) Actual cost or written down value, as the case may be.

(ii) change in rate of exchange of currency, and

(iii) subsidy or grant or reimbursement, by whatever name

(e) Depreciation allowable.

(f) Written down value at the end of the year.

15 Amounts admissible under sections -

(b) not debited to the profit and loss account. Nil

17 Amounts debited to the profit and loss account, being :

(a) expenditure of capital nature; Nil(b) expenditure of personal nature; Nil. However it is difficult to ascertain the personal elemen

involved in various expenses like Telephone Expense

Conveyance Expenses, Travelling Expenses, Misc. Expense

Etc. The Assessee has certified that all the expenses ar

incurred exclusinvely for the purpose of business only

(d) expenditure incurred at clubs,

(i) as entrance fees and subscriptions; Nil

(i) Modified Value Added Tax credit claimed and allowed under

the Central Excise Rules, 1944, in respect of assets acquired on or

after 1st March, 1994,

(a) 33AB (b) 33ABA (c) 33AC (wherever applicable) (d) 35 (e)

35ABB (f) 35AC (g) 35CCA (h) 35CCB (i) 35D (j) 35DD (k) 35DDA(l) 35E:-

Nil

(c) expenditure on advertisement in any souvenir, brochure, tract,

pamphlet or the like, published by a political party;

Nil

Nil

(a) Any sum paid to an employee as bonus or commission forservices

rendered, where such sum was otherwise payable to him as profits or

dividend. Section 36 1 ii .

Nil

(b) the proforma credits, drawbacks, refund of duty of customs or

excise or service tax, or refund of sales tax or value added tax, where

such credits, drawbacks or refunds are admitted as due by the

authorities concerned;

Nil

(d) Additions/deductions during the year with dates; in the case of any

addition of an asset, date put to use; including adjustments on account

of

(a) debited to the profit and loss account (showing the amount debited

and deduction allowable under each section separately);

(b) Any sum received from employees towards contributions to any

provident fund or superannuation fund or any other fund mentioned in

section 2(24)(x); and due date for payment and the actual date of

payment to the concerned authorities under section 36(1)(va).

16

12A Give the following particulars of the capital asset converted into stock-

in-trade: -


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(ii) as cost for club services and facilities used; Nil

(ii) any other penalty or fine; Nil

(f) amounts inadmissible under section 40(a);

(k) particulars of any liability of a contingent nature. Not Applicable

(m) amount inadmissible under the proviso to section 36(1)(iii); Nil

18 Particulars of payments made to persons specified under section

40A(2)(b).

Annexure : 2

(a) paid during the previous year;

(b) not paid during the previous year.

(B) was incurred in the previous year and was

(a) paid on or before the due date for furnishing the return of

income of the previous year under section 139(1);

Annexure : 3

(b) not paid on or before the aforesaid date. Nil

(ii) [***]

*State whether sales tax, customs duty, excise duty or any

other indirect tax, levy, cess, impost, etc., is passed

through the profit and loss account.

(e) (i) expenditure by way of penalty or fine for violation of any law for

the time being in force;

Nil

Not Applicable

(B) amount inadmissible under section 40A(3), read with rule

6DD with break-up of inadmissible amounts;

Nil

( i) provision for payment of gratuity not allowable under section

40A(7);

Nil

(j) any sum paid by the assessee as an employer not allowable under

section 40A(9);

Nil

(iii) expenditure incurred for any purpose which is an offence or

which is prohibited by law;

Nil

(h) (A) whether a certificate has been obtained from the assessee

regarding payments relating to any expenditure covered under section

40A(3) that the payments were made by account payee cheques drawn

on a bank or account payee bank draft, as the case may be;

Yes

(g) interest, salary, bonus, commission or remuneration inadmissible

under section 40(b)/40(ba) and computation thereof;

(b) Particulars of income or expenditure of prior period credited or

debited to the profit and loss account.

Not Applicable

Details of any amount borrowed on hundi or any amount due thereon

(including interest on the amount borrowed) repaid, otherwise than

through an account payee cheque [Section 69D].

Not Applicable

19

20

21

22

23

17A

Not Applicable

(a) Amount of Modified Value Added Tax credits availed of or utilized

during the previous year and its treatment in the profit and loss

account and treatment of outstanding Modified Value Added Tax

credits in the accounts.

Nil

(A) pre-existed on the first day of the previous year but was not

allowed in the assessment of any preceding previous year and was

Amounts deemed to be profits and gains under section 33AB or 33ABA

or 33AC.

Nil

Any amount of profit chargeable to tax under section 41 and

computation thereof.

Nil

* (i) In respect of any sum referred to in clause (a), (b), (c), (d), (e) or (f)of section 43B, the liability for which :

(l) amount of deduction inadmissible in terms of section 14A in respect

of the expenditure incurred in relation to income which does not form

part of the total income;

Nil

Amount of interest inadmissible under section 23 of the Micro Small

and Medium Enterprises Development Act, 2006.


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24 (a) Particulars of each loan or deposit in an amount exceeding the limit

specified in Section 269SS Taken or Accepted During the Previous Year

Annexure : 4

(i) Name, Address and Permanent Account Number (if available with the

assessee) of the Lender or Depositor

(ii) Amount of Loan or Deposit Taken or Accepted

(iii) Whether the Loan or Deposit was Squared up During the Previous Year

(iv) Maximum Amount Outstanding in the Account at Any Time During the

Previous Year

(v) Whether the Loan or Deposit was Taken or Accepted Otherwise Than

by Account Payee Cheque or Account Payee Bank Draft

24 (b) Particulars of Each Repayment of Loan or Deposit in an Amount

Exceeding the Limit Specified in Section 269T made During The

Previous Year

Annexure : 5

(i) Name, Address and Permanent Account Number (if available with the

assessee) of the Lender or Depositor

(ii) Amount of the Repayment(iii) Maximum Amount Outstanding in the Account At Any Time During the

Previous Year

(iv) Whether the Repayment was made Otherwise Than by Account Payee

Cheque or Account Payee Bank Draft

(a) Sr. Asst. Nature of Amount Amount Remarks No.

Year Loss / as as (if any) .

Allowance Returned Assessed

(i) Tax Deductible and Not Deducted at All

(ii) Shortfall on Account of lesser Deduction Than Required to be

Deducted

(iii) Tax Deducted Late

(iv) Tax Deducted But Not Paid to the Credit of the Central

*Please give the details of cases covered in (i) to (iv) above.

24 (c)

(b)

Whether a certificate has been obtained from the assessee regarding

taking or accepting loan or deposit, or repayment of the same through

an account payee cheque or an account payee bank draft.

Yes

Yes, Except Enumerated Below

(b) If the provisions of Chapter XVII-B have not been complied with,

please give the following details*, namely:-

Annexure : 6

Details of brought forward loss or depreciation allowance, in the

following manner, to the extent available :

Section-wise details of deductions, if any, admissible under Chapter

VIA.

(a) Whether the assessee has complied with the provisions of ChapterXVII-B regarding deduction of tax at source and regarding the payment

thereof to the credit of the Central Government.

27

25

26

whether a change in shareholding of the company has taken place in

the previous year due to which the losses incurred prior to the

previous year cannot be allowed to be carried forward in terms of

section 79.

Not Applicable

The particulars (i) to (iv) at (b) and the Certificate at (c) above need not

be given in the case of a repayment of any loan or deposit taken or

accepted from Government, Government company, banking company

or a corporation established by a Central, State or Provincial Act;

*(These particulars need not be given in the case of a Government

company, a banking company or a corporation established by a Central,

State or Provincial Act.)


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(i) opening stock;

(ii) purchases during the previous year;

(iii) sales during the previous year;

(iv) closing stock;

(v) shortage/excess, if any.

A. Raw materials :

(i) opening stock;


(iii) consumption during the previous year;

(iv) sales during the previous year;(v) closing stock;

(vi) * yield of finished products;

(vii) * percentage of yield;

(viii) * shortage/excess, if any.

B. Finished products/By-products :

(i) opening stock;


(iii) quantity manufactured during the previous year;

(iv) sales during the previous year;

(v) closing stock;

(vi) shortage/excess, if any.

*Information may be given to the extent available.

(a) total amount of distributed profits;

(b) total tax paid thereon;

(c) dates of payment with amounts.

32 Accounting ratios with calculations as follows :

(a) Gross profit/Turnover;

(b) Net profit/Turnover;

(c) Stock-in-trade/Turnover;

(d) Material consumed/Finished goods produced.

Place :

Date :

Whether any audit was conducted under the Central Excise Act, 1944,

if yes, enclose a copy of the report of such audit.

Not Applicable

(b) In the case of a manufacturing concern, give quantitative details of

the principal items of raw materials, finished products and by-products

:

In the case of a domestic company, details of tax on distributed profitsunder section 115-O in the following form :

Not Applicable

Whether any cost audit was carried out, if yes, enclose a copy of the

report of such audit [See section 139(9)].

Not Applicable

(a) In the case of a trading concern, give quantitative details of

principal items of goods traded:

30

31

28

29


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:

:

:

:

::

Sl. No.

1

2

3

4

56

7

8

9

10

11

12

13

14

15

16

Depreciation as per books of account

Net Profit (or loss) before tax as per Profit and Loss

Account

Taxes on income paid/provided for in the books

Gross turnover/gross receipts

Gross profit

Commission received

Commission paid

Interest received

Interest paid

Secured loans

Reserves and Surplus/Profit and Loss Account

Unsecured loansCurrent liabilities and provisions

Total of Balance Sheet

PART B

Current year Preceding yeParameters

Share Application Money/Current Account of Partner or

Proprietor, if any

Paid-up share capital/capital of partner/proprietor

Nature of business or profession in respect of every business or profession carried on during the

previous year

0204

Annexure I

PART A

1. Name of the assessee

6. Assessment year5. Previous year ended

4. Status

3. Permanent Account Number

2. Address

M/s.

Mumbai

0

Individual

31st March, 20112011-2012


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r


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(a) (b) (c) (d) (a+b+c-d)=(e) (f) (e-f)=g

Land - 0 - 0

Building 10% 0 0 0Plant & machinery 15% 0 0 0

Car 15% 0 0 0

Bike 15% 0 0 0

Computer 60% 0 0 0

Furniture 10% 0 0 0

0 0 0 0 0 0 0

Amount

M/s.

Annexure : 2

Particulars of payments made to persons specified under section 40A(2)(b).

Name of Person Relation Nature of Payment

Sub Total Depreciation WDV

Total

Clause : 14

Annexure : 1

BLOCK OF ASSETSRATE OF

DEPRECIATION

Actual

Cost /

WDV

Addition During

The First Half

Addition During

The Second Half

Sale /

Scrape /

Deletion

Clause : 18


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Amount

Amount of the

Repayment

Whether the

Loan or Deposit

was Squared up

During the

Previous Year

Particulars of each loan or deposit in an amount exceeding the limit specified in Section 269SS Taken or Accepted During the Previous

Year

Name, Address and Permanent Account Number

(if available with the assessee) of the Lender or

Depositor

Whether the Loan or Deposit was

Taken or Accepted Otherwise Than

by Account Payee Cheque or

Account Payee Bank Draft

Maximum Amount

Outstanding in the Account

at Any Time During the

Previous Year

Annexure : 4

Clause : 24(a)

Clause : 21(i)(B)(a)

Payment in respect of any sum referred to in clause (a), (b), (c), (d), (e) or (f) of section 43B, the liability for which was incurred in the

previous year and was paid on or before the due date for furnishing the return of income of the previous year under section 139(1)

Nature of Payment For the Period Paid On

Annexure : 3


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AmountTDS

DeductibleTDS Deducted

Amount of TDS /

Shortfall

(iii) Tax Deducted Late

Clause : 27(b)

Particulars of Expenses

(i) Tax Deductible and Not Deducted at All

(ii) Shortfall on Account of lesser Deduction Than Required to be Deducted

(iv) Tax Deducted But Not Paid to the Credit of the Central Government

Annexure : 6

Details of Expenses where Provisions of Chapter XVII-B have not been complied with

Particulars of Each Repayment of Loan or Deposit in an Amount Exceeding the Limit Specified in Section 269T made During The Previous

Year

Annexure : 5

Clause : 24(b)

Name, Address and Permanent Account Number

(if available with the assessee) of the Lender or

Depositor

Amount of the Repayment Maximum Amount

Outstanding in the Account

At Any Time During the

Previous Year

Whether the Repayment was

made Otherwise Than by Account

Payee Cheque or Account Payee

Bank Draft


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Particulars

(i) (a) whether the company is maintaining proper records showing full

articulars includin uantitative details and situation of fixed(b) whether these fixed assets have been physically verified by the

management at reasonable intervals; whether any material

discrepancies were noticed on such verification and if so, whether

the same have been properly dealt with in the books of account;

(c) if a substantial part of fixed assets have been disposed off during

the year, whether it has affected the going concern;

(ii) (a) whether physical verification of inventory has been conducted at

reasonable intervals by the management;

(b) are the procedures of physical verification of inventory followed

by the management reasonable and adequate in relation to the size

of the company and the nature of its business. If not, theinadequacies in such procedures should be reported;

(c) whether the company is maintaining proper records of inventory

and whether any material discrepancies were noticed on physical

verification and if so, whether the same have been properly dealt

with in the books of account;

(iii) (a) has the company either granted or taken any loans, secured or

unsecured to/from companies, firms or other parties covered in the

register maintained under section 301 of the Act. If so, give the

number of parties and amount involved in the transactions.

(b) whether the rate of interest and other terms and conditions of

loans given or taken by the company, secured or unsecured, are

prima facie prejudicial to the interest of the company;

(c) whether payment of the principal amount and interest are also

regular;

(d) if overdue amount is more than one lakh, whether reasonable

steps have been taken by the company for recovery/payment of the

principal and interest;

(iv) is there an adequate internal control procedure commensurate

with the size of the company and the nature of its business, for the

purchase of inventory and fixed assets and for the sale of goods.

Whether there is a continuing failure to correct major weaknesses

in internal control;(v) (a) whether transactions that need to be entered into a register in

pursuance of section 301 of the Act have been so entered;

(b) whether each of these transactions have been made at prices

which are reasonable having regard to the prevailing market prices

at the relevant time;

(This information is required only in case of transactions exceeding

the value of five lakh rupees in respect of any party and in any one

financial year).

Companies (Auditors Report)


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(vi) in case the company has accepted deposits from the public,

whether the directives issued by the Reserve Bank of India and the

provisions of sections 58A and 58AA of the Act and the rules framed

there under, where applicable, have been complied with. If not, the

nature of contraventions should be stated; If an order has been

passed by Company Law Board whether the same has been

com lied with or not?

(vii) in the case of listed companies and/or other companies having apaid-up capital and reserves exceeding Rs.50 lakhs as at the

commencement of the financial year concerned, or having an

average annual turnover exceeding five crore rupees for a period of

three consecutive financial years immediately preceding the

financial year concerned, whether the company has an internal

audit system commensurate with its size and nature of its business;

(viii) where maintenance of cost records has been prescribed by the

Central Government under clause (d) of sub-section (1) of section

209 of the Act, whether such accounts and records have been made

and maintained;

(ix) (a) is the company regular in depositing undisputed statutory dues

including Provident Fund, Investor Education and Protection Fund,

Employees State Insurance, Income-tax, Sales-tax, Wealth Tax,

Custom

Duty, Excise Duty, cess and any other statutory dues with the

appropriate authorities and if not, the extent of the arrears of

outstanding statutory dues as at the last day of the financial year

concerned for a period of more than six months from the date they

became a able, shall be indicated b the auditor.(b) in case dues of sales tax/income tax/custom tax/wealth

tax/excise duty/cess have not been deposited on account of any

dispute, then the amounts involved and the forum where dispute is

pending may please be mentioned.

(A mere representation to the Department shall not constitute the

dispute).

(x) whether in case of a company which has been registered for a

period not less than five years, its accumulated losses at the end of

the financial year are not less than fifty per cent of its net worth

and whether it has incurred cash losses in such financial year and in

the financial year immediately preceding such f inancial year also;

(xi) whether the company has defaulted in repayment of dues to a

financial institution or bank or debenture holders? If yes, the period

and amount of default to be reported;

(xii) whether adequate documents and records are maintained in cases

where the company has granted loans and advances on the basis of

security by way of pledge of shares, debentures and other

securities; If not, the deficiencies to be pointed out.

(xiii) whether the provisions of any special statute applicable to chit fund

have been duly complied with? In respect of nidhi/ mutual benefit

fund/societies;

(a) whether the net-owned funds to deposit liability ratio is more

than 1:20 as on the date of balance sheet;


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(b) whether the company has complied with the prudential norms

on income recognition and provisioning against sub-

standard/default/loss assets;

(c) whether the company has adequate procedures for appraisal of

credit proposals/requests, assessment of credit needs and

repayment capacity of the borrowers;

(d) whether the repayment schedule of various loans granted by

the nidhi is based on the repayment capacity of the borrower and

would be conducive to recovery of the loan amount;

(xiv) if the company is dealing or trading in shares, securities,

debentures and other investments, whether proper records have

been maintained of the transactions and contracts and whether

timely entries have been made therein; also whether the shares,

securities, debentures and other securities have been held by the

company, in its own name except to the extent of the exemption, if

any, granted under section 49 of the Act;

(xv) whether the company has given any guarantee for loans taken by

others from bank or financial institutions, the terms and conditions

whereof are prejudicial to the interest of the company;

(xvi) whether term loans were applied for the purpose for which the

loans were obtained;

(xvii) whether the funds raised on short-term basis have been used for

long term investment and vice versa; If yes, the nature and amount

is to be indicated;

(xviii) whether the company has made any preferential allotment of

shares to parties and companies covered in the Register maintained

under section 301 of the Act and if so whether the price at which

shares have been issued is prejudicial to the interest of the

com an ;

(xix) whether securities have been created in respect of debentures

issued?

(xx) whether the management has disclosed on the end use of money

raised by public issues and the same has been verified;

(xxi) whether any fraud on or by the company has been noticed or

reported during the year; If yes, the nature and the amount

involved is to be indicated.


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Comments

Question

Capital + Reserves (Amount)

Has accepted Public Deposits ?

rder, 2003.Check Applicability of CARO(Give the Answers

question and you will get the

Is it a Banking Co. ?

Is it a Insurance Co. ?

Final Answer

Is it a Sec.25 Co. ?

In case of PVT LTD Co. check followings

Outstanding Loans from Banks or Financial

Inst. (amount)

Turnover (Amount)


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Answer

Yes

Yes

Yes

5000000

No

999999

50000000

in "Answer Column" only to the respective

aplicability automatically)

No

No

Applicable or not

If Answers in all the boxes

in this column is No then

CARO is Not Applicable

No

No

No

No

No


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Individual

HUF STATUS

Firm

Company

AOP

Not Applicable

Nil COMMON

Yes

No

1.Sales Register 2.Purchase Register 3.Cash Book 4.Bank Book 5.Journal 6.Ledger 7.Stock Register

1.Sales Register 2.Purchase Register 3.Cash Book 4.Bank Book 5.Journal 6.Ledger

1.Sales Register 2.Purchase Register 3.Cash Book 4.Bank Book 5.Journal 6.Ledger 7.Stock Register

1.Sales Register 2.Purchase Register 3.Cash Book 4.Bank Book 5.Journal 6.Ledger

As Above

All the Books are Generated using the Computerised Accounting System

All the Books are prepared using Mannual Accounting System

At Cost or Market Value Whichever is Lower

At Average Cost or Market Value Whichever is Lower

There is No Closing Stock

At Cost or Market Value Whichever is Lower. We are informed that the Assessee deals in various items

Mercantile

Cash ACCOUNTINGMETHOD

Nil PERSONALEXPENSES

Nil. However it is difficult to ascertain the personal element involved in various expenses like Telephon

Not Applicable

Yes TDS

Yes, Except Enumerated Below

Yes

No CARO

Nil

Not Applicable

Yes


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No CAROAPP

*Please enter the relevant code pertaining to the main area of your business activity. The codes are as f

Sub-Sector CodeSector

(1) Manufacturing Industry Agro-based industries

Automobile and Auto parts

CementDiamond cutting

Drugs and Pharmaceuticals

Paper

Petroleum and Petrochemicals

Power and energy

Printing & Publishing

Rubber

Steel

Electronics including Computer Hardware

Engineering goods

Fertilizers, Chemicals, Paints

Flour & Rice Mills

Food Processing Units

Marble & Granite

Others(2) Trading Chain stores

Retailers

Wholesalers

Others

(3) Commission Agents General Commission Agents

Sugar

Tea, Coffee

Textiles, Handloom, Powerlooms

Tobacco

Tyre

Vanaspati & Edible Oils

Others

(6) Professionals Chartered Accountants, Auditors, etc.

Fashion designers

Legal professionals

(4) Builders Builders

Estate agents

Property Developers

Others

(5) Contractors Civil Contractors

Excise Contractors

0101

0102

01030104

0105

0106

0107

0108

0109

0110

0111

0112

0113

Medical professionals

Nursing Homes

Forest Contractors

Mining Contractors

0120

0121

0122

0123

01240201

0114

0115

0116

0117

0118

0119

0403

0404

0501

0502

0503

0504

0202

0203

0204

0301

0401

0402

0505

0601

0602

0603

0604

0605


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1. Short title, application and commencement. (1) This order may be called the Companies (Auditors

Report) Order, 2003.

(2) It shall apply to every company including a foreign company as defined in section 591 of the Act, exc

:-

(i) a Banking company as defined in clause (c) of section 5 of the Banking Regulation Act, 1949 (10 of 19

(ii) an insurance company as defined in clause (21) of section 2 of the Act;

(iii) a company licensed to operate under section 25 of the Act; and

(iv) a private limited company with a paid up capital and reserves not more than fifty lakh rupees and h

accepted any public deposit and does not have loan outstanding ten lakh rupees or more from any ban

or financial institution and does not have a turnover exceeding five crore rupees.

(3) It shall come into force on the 1st day of July, 2003.

Non-Banking Financial Companies

Share Brokers, Sub-brokers, etc.

(8) Financial Service Sector Banking Companies

Chit Funds

Financial Institutions

Financial service providers

Leasing Companies

Money Lenders

I.T. enabled services, BPO service providers

Security agencies

Software development agencies

Transporters

Travel agents, tour operators

Others

Consultancy services

Courier Agencies

Computer training/educational and coaching institutes

Motion Picture Producers

Television Channels

Others

Others

(9) Entertainment Industry Cable T.V. productions

Film distribution

Film laboratories

Forex Dealers

Hospitality services

Hotels

Specialty hospitals

Others

(7) Service Sector Advertisement agencies

Beauty Parlours

0606

0607

0701

0702

0703

0704

0711

0712

0713

0714

0801

0802

07050706

0707

0708

0709

0710

0906

0809

0901

0902

09030904

0905

0803

0804

0805

0806

0807

0808


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BOOKS

BOOKSEXAMINED

STOCKVALUATION

and hence it is not possible for them to maintain day to day inventory of goods. The assessee has howe

Expenses, Conveyance Expenses, Travelling Expenses, Misc. Expenses Etc. The Assessee has certified th


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ollows :


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ept the following

49);

as not


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ver taken the year end Inventory and Certified the Value

at all the expenses are incurred exclusinvely for the purpose of business only

Documents

643377 41535 Income Tax Audit Report