TAX AUDIT CHECKLIST

S. No.

Requirement

Signed Financial Statements for the Previous

Year along with the Audit Report.
Form 3CD filled
Signed Tax Audit Representation Letter
Signed Certificate under Section 40A(3)
Signed Certificate under Section 269 SS & 269 T
Declaration by the company towards Related
Parties covered under Section 40 A(2b) along
with the list of transactions with the party
during the financial year.
Computation of Depreciation as per the
provisions of Income Tax Act.
Detailed Breakup of Addition and Deletion of
Assets during the financial year.
Details of Statutory payments such as Provident
Fund, Employee State Insurance, Value Added
Tax, Service Tax, Central Sales Tax, Luxury and
any other statutory payments made during the
previous year containing the due date for
payment as well as the actual date of payment.
Note: For Provident Fund and Employee State
Insurance
the
Employer
and
Employee
contribution has to be mentioned separately.
Details of Tax Deduction at Source and its
remittance to the Central Government. The
schedule must contain the monthly deduction
and remittance along with due date and actual
date of remittance.
Gratuity provision and payment made during the
financial year including the details of payments
made towards provision made during the
previous years.
Bonus provision and payment made during the
financial year including the details of payments

2
3
4
5
6

7
8
9

10

11

12

Availability (Yes /
No / NA)
Yes
Yes

Declaration to be
obatined
Yes
Yes
Yes

To be.

Yes

Yes

13

14
15
16

17

18
19
20

21

22

23

24
25

made towards provision made during the

previous years.
Leave Encashment provision and payment made
during the year including the details of payments
made towards provision made during the
previous years.
Details of any penalty paid by the company
during the financial year.
Details of payment to clubs made during the
financial year.
Details of Donation made by the company during
the financial year along with the relevant
certificate if any issued under Section 80G of the
Income Tax Act.
Details of Exempt Income under the provisions of
Income Tax Act along with the deemed expense
computation under the provisions of Section 14A
of the Income Tax Act.
Details of Computation of Deferred Tax.
Computation of Total Income as per the
provisions of Income Tax Act.
Computation of MAT Liability if any under the
provisions of Section 115JB of the Income Tax
Act along with the details of MAT Credit eligibility
under Section 115JA.
Details of Dividend payment and Dividend
Distribution tax made by the company during
the financial year.
Details of Advance Tax and Self Assessment Tax
payments made by the company for the financial
year along with the copies of challans for such
payment.
Details of TDS Receivable from Customers along
with the Copy of Certificates duly received from
the customer. Copy of Form 26AS is also
required for verification of the tax credit.
Computation of interest under Section 234A,
234B and 234C of the Income Tax Act.
Details of any advances given to parties covered

Yes

No penalty paid.
There were no
payments to club.
Nil.

Nil.

Yes
Yes
Yes

Nil.

Yes.

Yes.

Nil.
Nil.

26
27
28
29

30
31

32
33
34
35
36

under Section 2(22)(e)

Details of any payment of more than Rs.20,000
made by cash towards any expense.
Details of payment of interest to financial
institutions.
Preliminary Expenses and its deferment if any
under the provisions of Income Tax Act.
Details of Carried Forward Loss under the
Income Tax Act along with the breakup of
Depreciation Loss and Business Loss.
Copy of Last Year Tax Audit Report along with
the Form 3CD, Annexure, Form 3CA, ITR 6.
Details of Tax Deduction at Source and
remittance made during the year towards
disallowance of expense if any made during the
previous years.
Details of change in shareholding if any during
the financial year.
Change of accounting policy if any made during
the financial year.
Quantitative Details of Major Raw Materials and
Finished Goods manufactured by the company.
Details of provision towards contingency if any
made during the financial year.
Details of any other exemptions if any availed by
the company under the provisions of Income Tax
Act.

No cash payments
more than Rs.20,000.
Yes.
Yes.
Yes

Nil

No change.
Not applicable.
Nil.
Nil.