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Tax Audit Checklist: Clause 21(b) to 21(i) of Form 3CD under the Income Tax Act, 1961
Clause 21 of Form 3CD focuses on reporting various disallowed expenses under the Income Tax Act, ensuring that tax auditors provide accurate data about non-compliant payments or provisions. This includes payments to residents and non-residents where TDS is not deducted, partner and member remuneration in firms and LLPs, and payments made via non-permissible modes. Tax auditors are responsible for reporting facts and data, without giving an opinion on the allowability of these expenses unless required by specific clauses.
The clauses also cover disallowed gratuity provisions, inadmissible payments towards employee welfare funds, and contingent liabilities. Each clause ensures compliance with the Income Tax Act and promotes transparency in financial reporting. The checklists for Clauses 21(b), (c), (d), (e), (f), (g), (h), and (i) of Form 3CD has been outlined in this document below.
Tax Audit checklist for Clause 21(b) of Form No.3CD
Tax Audit checklist for Clause 21(c) of Form No.3CD
Tax Audit Checklist for partnership firms is as follows
Tax Audit Checklist for LLPs incorporated under the LLP Act,2008 is as follows
Tax Audit checklist for Clause 21(d)(A) of Form No.3CD
Tax Audit checklist for Clause 21(d)(B) of Form No.3CD
Tax Audit checklist for Clause 21(e) of Form No.3CD
Tax Audit checklist for Clause 21(f) of Form No. 3CD
TaxTax Audit checklist for Clause 21(g) of Form No.3CD
Tax Audit checklist for Clause 21(h) of Form No.3CD
Tax Audit checklist for Clause 21(i) of Form No.3CD
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