Tuesday, June 11, 2013

UPLOADING OF TAX AUDIT REPORT- REQUIRES BALANCE SHEET AS WELL AS PROFIT AND LOSS

Duplication of entire process


 Central Board of Direct Taxes By making amendments in the Rule 12 vide notification no 34 dated 1st May 2013 has made it compulsory for the  auditors to upload tax audit reports i.e. Form 3CA-CD/3CB-CD directly on the e filing  portal. Excel utility for the preparation of tax audit report has been provided for generating .xml file for uploading.

While uploading  the tax audit report the auditor must  possess  audited Balance Sheet as well Profit and Loss account as the same has to be attached with the audit report at the time of uploading in pdf or tiff format. This  is nothing but  the duplication of the entire process. First the auditors shall prepare the B/sheet, Profit & Loss account and Tax Audit report in their own customized Formats(mostly in excel) then uploading the same through their own digital signature at the portal. And again the entire process has to be repeated in ITR’s 4/5/6 while filing the Income Tax Return. This repetition needs to be avoided to save time.


You may also like:

How to upload Tax Audit Report

No comments:

Post a Comment