Search Results for Tag : Audit
International Cases
Only forum in which a taxpayer may dispute or object to a decision of an assessment, including additional assessments, is the tax court, unless the high court directs otherwise(24.03.2023)
The Respondent, the Commissioner for the South African Revenue Services (SARS), issued a letter to the appellant, United Manganese of Kalahari (Pty) L.....
Tags : Audit, Assessment, Objections
Top Story
Income Tax Department validates Unique Document Identification Number generated from ICAI portal for Tax Audit Reports(26.11.2020)
In continuation with the ongoing initiatives of the Income Tax Department for integrating with other Government agencies, Income-tax e-filing portal h.....
Tags : Validation, UDIN, Tax Audit
Notifications & Circulars
Committee of Experts submits its report on Regulating audit firms and the Networks(31.10.2018)
The Committee of Experts has submitted its report on Regulating audit firms and the Networks to the Government of India through the Secretary, Ministr.....
Tags : Report, Audit firms, Regulations
TRAI conducted an Open House Discussion (OHD) on Consultation Paper on "Empanelment of Auditors for Digital Addressable Systems"(18.04.2018)
The Telecom Regulatory Authority of India (TRAI) convened an Open House Discussion (OHD) on Consultation Paper on "Empanelment of Auditors for Digital.....
Tags : Discussion, Empanelment, Auditors
Annual Report of Telecom Regulatory Authority of India for the year 2017-2018(21.02.2019)
The Annual Report of Telecom Regulatory Authority of India for the year 2017-18 detailing activities of the Authority, certified accounts and the audi.....
Tags : Annual Report, TRAI, Accounts, Audit report
Mandatory Safety Audits(10.08.2023)
Road Safety audit (RSA) is an essential part of any National Highway development project. RSA is carried out at different stages namely during design,.....
Tags : Safety Audits, Recommendation, Implementation
CAG of India signs 11 UN Audit reports(28.07.2016)
Comptroller & Auditor General of India, is currently in New York to attend the 70thRegular Session of the United Nations' Board of Auditors, held at t.....
Tags : UN audit reports, Board, Approval
Action against statutory auditors of NBFC under Section 45MAA of RBI Act, 1934(12.10.2021)
The Reserve Bank of India (RBI) in exercise of the powers vested under section 45MAA of the Reserve Bank of India Act, 1934, has, by an order dated Se.....
Tags : Statutory auditors, NBFC
More than 30 lakh Audit Reports filed on Income Tax Department's e-filing portal till 30th September, 2023(02.10.2023)
More than 30.75 lakh audit reports, including about 29.5 lakh Tax Audit Reports have been filed for AY 2023-24 on the e-filing portal till the end of .....
Tags : Compliances, Audit Reports, E-filing
News
Delhi HC Orders CAG Audit on Tree Felling Since 2010(17.03.2017)
Delhi High Court has asked Comptroller and Auditor General (CAG) to conduct an audit into number of trees felled here for various projects and disposa.....
Tags : Delhi High Court, Comptroller and Auditor General, Audit
CBIC Notifies New Customs Audit Regulations, Rs. 50,000 Fine in Case of Default(29.05.2018)
Central Board of Indirect Taxes and Customs (CBIC) has notified the Customs Audit Regulations, 2018 wherein the scope of ‘audit’ and the selection on .....
Tags : Customs, Audit Regulations
DIRECT TAXATION - Delay in Statutory Audit is Reasonable Cause for Delayed Filing of Tax Audit Report: ITAT(27.03.2019)
Income Tax Appellate Tribunal (ITAT) has held that the delay in completion of statutory audit can be a reasonable cause for delay in filing of the tax.....
Tags : Income Tax Appellate Tribunal, ITAT, statutory audit, tax audit report
Del. HC to Authorities: Conduct Structural Audit of Buildings to Check Stability During Earthquakes(06.12.2023)
Delhi High Court has directed the city authorities to conduct a structural audit of buildings of all hospitals, schools and colleges in the national c.....
Tags : Delhi High Court, structural audit, earthquakes
Government Amends Companies (Audit and Auditors) Rules, 2014(20.02.2018)
Government has amended Companies (Audit and Auditors) Rules, 2014 wherein Forms ADT-1 which provides for notice to RoC by the company for appointment .....
Tags : Companies, Audit, Auditors
Supreme Court Asks Centre to Curb Illegal Operations of Multinational Auditors(26.02.2018)
Supreme Court has taken a serious note of alleged illegal operations of multi-national accounting firms in India in collaboration with Indian charted .....
Tags : Supreme Court, Auditors
CBDT allows certain trusts/institutions to furnish the audit report on or before 31st March, 2024(05.03.2024)
Income of any fund or institution or trust or any university or other educational institution or any hospital or other medical institution referred to.....
Tags : Audit report, Furnishing of, date
Circular on Standardization of the Private Placement Memorandum (PPM) Audit Report(18.04.2024)
1. In terms of Regulation 28 of SEBI (AIF) Regulations, 2012 and Clause 2.4 of SEBI Master Circular SEBI/HO/AFD/PoD1/P/CIR/2023/130 dated July 31, 202.....
Tags : Standardization, PPM, Audit Report
Madras High Court Issues Notice to Kanchi Sankaracharya in the Auditor Assault Case(18.07.2016)
Madras High Court has issued a notice to Kanchi Sankaracharya Sri Jayendra Saraswathi and eight others in the14-year-old assault case pending against.....
Tags : Madras High Court, Kanchi Sankaracharya, Auditior Assault
INSOLVENCY - 51% COC Vote Enough for Forensic Audit of Corporate Debtor: NCLT(08.03.2019)
National Company Law Tribunal (NCLT) has clarified that 51 per cent vote of the Committee of Creditors (CoC) is enough to initiate a forensic audit of.....
Tags : NCLT, Forensic Audit, Corporate Debtor
Income Tax Appellate Tribunal, Bangalore: Delay in Furnishing Audit Reports is Mere Technical Breach(09.01.2020)
Income Tax Appellate Tribunal, Bangalore has held that the delay in furnishing audit reports results only in the technical venial breach which does no.....
Tags : Income Tax Appellate Tribunal, Audit Reports
ITAT Hyderabad: Return by Govt Agency Can't be Rejected For Not Furnishing Audit Report(09.06.2017)
Income Tax Appellate Tribunal (ITAT), Hyderabad has held that income tax return filed by a Government agency cannot be rejected by authorities merely .....
Tags : Income Tax Appellate Tribunal, Audit Report
AO has Power to Extend Time Limit for Filing Auditor’s Report: Supreme Court(05.04.2019)
Supreme Court has held that Assessing Officer who prescribes time limit for filing auditor’s report under Section 142(2A) of the Income Tax Act is als.....
Tags : Supreme Court, Assessing Officer, Auditor's Report
Delhi High Court Orders Audit of Private School(17.02.2020)
Delhi High Court has ordered an audit and inspection of a school on Government land in Chanakyapuri, on the allegations that the private school was ig.....
Tags : Delhi High Court, Audit of Private School
Conference of Statutory Auditors and Chief Financial Officers of Commercial Banks and All India Financial Institutions(09.07.2024)
The Reserve Bank held a Conference for the Statutory Auditors and Chief Financial Officers (CFOs) of Commercial Banks and All India Financial Institut.....
Tags : Conference, Statutory Auditors, Financial Institutions
Order under section 119 of the Income-tax Act, 1961(09.10.2023)
1. Audit report in the case of a fund or trust or institution or any university or other educational institution or any hospital or other medical inst.....
Tags : Audit report, Furnishing, Form
Performance Audit Report No. 14 of 2022 "Sabka Vishwas (Legacy Dispute Resolution) Scheme (SVLDRS) 2019" of C&AG of India (Indirect Taxes-GST, Central Excise & Service Tax)(06.02.2023)
1. The Performance Audit Report No. 14 of 2022 "Sabka Vishwas (Legacy Dispute Resolution) Scheme (SVLDRS) 2019" of C&AG of India (Indirect Taxes-GST, .....
Tags : Performance, Audit Report, Sabka Vishwas Scheme
Enforcement action in respect of statutory auditors of commercial banks(03.06.2019)
RBI vide its Press Release dated June 29, 2018 had put in place an enforcement action framework in respect of statutory auditors for the lapses in the.....
Tags : Statutory auditors, Commercial banks, Enforcement action
Madras HC: Appointment of Independent Directors in Social Audit of MGNREGA is Must(18.02.2020)
Madras High Court has directed the State of Tamil Nadu to issue fresh Government Order prescribing the qualifications for the appointment of independe.....
Tags : Madras High Court, Appointment of Independent Directors in Social Audit
CESTAT: Objection of Audit Cannot be Basis for Determining Duty Liability(18.12.2020)
Customs, Excise, Service Taxes Appellate Tribunal (CESTAT) has held that objection of audit cannot be the basis for determining duty liability, in abs.....
Tags : Customs, Excise, Service Taxes Appellate Tribunal, Objection of Audit
Delhi HC: CAG Cannot Audit Private Discoms(30.10.2015)
Delhi HC while allowing plea filed by Tata Power Delhi Distribution Ltd, BSES Yamuna Power, BSES Rajdhani Ltd., has junked AAP Govt.’s decision to get.....
Tags : Delhi HC, Comptroller and Auditor General (CAG)
NCLAT: Auditor Cannot be Debarred for 5 Years in Absence of Evidence(26.02.2020)
National Company Law Appellate Tribunal has set aside an order passed by National Company Law Tribunal in a matter relating to debarring of an auditor.....
Tags : National Company Law Appellate Tribunal, Debarring of Auditor
Tamil Nadu Govt. Extends Time Limit for Furnishing VAT Audit Report in Electronic Form for FY 2020-21(03.01.2022)
Tamil Nadu Government has notified the extension of the time limit for Furnishing VAT Audit Report in electronic form for financial year 2020-21 till .....
Tags : Tamil Nadu Government, Time Limit for Furnishing VAT Audit Report
Central Board of Direct Taxes Extends Due Date of Income Tax Audit Reports(12.01.2022)
Central Board of Direct Taxes (CBDT) has notified the extension of the timeline for filing Income Tax Returns and Various reports of audit for the AY .....
Tags : Central Board of Direct Taxes, Due Date of Income Tax Audit Reports
Extension of time to submit proposals for empanelment in the panel of Auditors to carry out Audit of Digital Addressable Systems(29.04.2019)
The Telecom Regulatory Authority of India (TRAI) had issued Expression of Interest (EOI) for Empanelment of Auditors to Carry out Audit of Digital Add.....
Tags : Time, Extension, Empanelment, Auditors
Draft Reporting System on Accounting Separation Regulations, 2016(22.02.2016)
The Telecom Regulatory Authority of India released draft ‘JudgmentsAudit report can be filed even at the appellate stage(02.03.2023)
The assessee is a trust, which had filed its return of income for the relevant assessment year year. However, when the return of income was filed, the.....
Tags : Audit report, Assessment, Return