Search Results for Tag : audit

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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

Judgments

Audit 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

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

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

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

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

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

News

Delhi HC Orders Release of 410 VVPAT Machines For Use in Assembly Polls(08.02.2017)

Delhi High Court has allowed AAP Government's plea seeking release of 410 Voter Verified Paper Audit Trail (VVPAT) machines, which were earlier ordere.....

Tags : Delhi High Court, Voter Verified Paper Audit, AAP

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

Calcutta High Court Orders CAG Audit of Amphan Relief(02.12.2020)

Calcutta High Court has directed the Comptroller and Auditor General (CAG) of India to audit Amphan Cyclone related relief, amid allegations of irregu.....

Tags : Calcutta High Court, Audit of Amphan Relief

Delhi High Court Upholds Power to Conduct Service Tax Audit(04.11.2020)

Delhi High Court held that Section 174(2) (e) of the Central Goods and Services Tax Act, 2017 specifically empowers the authorities to institute any i.....

Tags : Delhi High Court, Service Tax Audit

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

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

DGCA and USTDA sign agreement for aviation safety and technical assistance(09.02.2016)

The Directorate General of Civil Aviation of India and the United States Technical Development Agency signed the Grant Agreement for India Aviation Sa.....

Tags : Civil aviation, safety, audit, agreement

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

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

Supreme Court Asks Election Commission, ‘By When Will You Introduce Paper Trail in EVMs’(06.01.2017)

Supreme Court has asked Election Commission to spell out time frame within which it would introduce Voter Verifiable Paper Audit Trail (VVPAT) in EVMs.....

Tags : Supreme Court, Election Commission, Voter Verifiable Paper Audit Trail

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

Del. HC to Centre: Maintain Highest Standards of Safety and Security at Railway Stations(27.07.2023)

Delhi High Court has directed Union government to ensure that there is a periodic audit and maintenance of highest standards of safety and security at.....

Tags : Delhi High Court, Railway Stations, Audit, Safety

Finance Ministry: No Audit for Turnover of Up to Rs 2 Crore if Opted Presumptive Taxation Scheme(21.06.2016)

Finance Ministry has said that small businesses with a total turnover of up to Rs 2 crore will not be required to get their accounts audited if they o.....

Tags : Finance Ministry, presumptive taxation scheme, Audit

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

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

Calcutta HC Restrains Special Audit of Bank Headed by BJP MLA Suvendu Adhikari(19.07.2021)

Calcutta High Court has held that the West Bengal government's Co-operative Department shall not conduct a special audit of the Contai Cooperative Ban.....

Tags : Calcutta High Court, Special Audit of Bank Headed by BJP MLA Suvendu Adhikari

ITAT, Delhi: AO Cannot Apply Wrong Method to Determine Profit in Absence of Audited Financials(06.05.2022)

Income Tax Appellate Tribunal, Delhi has ruled that the Assessing Officer cannot give benefit to the assessee for non-cooperation in providing audited.....

Tags : Income Tax Appellate Tribunal, Assessing Officer, audited financials

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

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

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

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

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

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

Supreme Court: Performance Audit of Maharashtra Slum Areas Act, Directed(01.08.2024)

SC while suggesting audit of Maharashtra Slum Areas Act, 1971 has stated that reviewing and assessing implementation of statute is an integral part of.....

Tags : Supreme Court, Performance Audit, Constitutional Courts

MCA Extends Last Date of Filing of Cost Audit Report to Board of Directors(28.09.2021)

Ministry of Corporate Affairs (MCA) has extended the last date of filing of the Cost Audit Report to the Board of Directors under Rule 6(5) of the Com.....

Tags : Ministry of Corporate Affairs, Last Date of Filing of Cost Audit Report

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

Uttarakhand High Court Orders Government to Conduct Audit of Covid-19 Deaths in State(10.06.2021)

Uttarakhand High Court has ordered the Government to conduct an audit of Covid-19 deaths in the state and submit its report by 21st June, 2021 in plea.....

Tags : Uttarakhand High Court, Audit of Covid-19 Deaths in State

Govt Extends Deadline for Income Tax Audit & Return Filing to Nov 7(01.11.2017)

Central Government has declared that due date for tax audit and return filing under the provisions of Income Tax Act is extended to November 7th. Earl.....

Tags : Government, Income Tax Audit

CBDT Extends Deadline for Uploading UDIN for Audit Forms/Audit Certificates(05.04.2021)

Central Board of Direct Taxes (CBDT) has extended the deadline for uploading of UDIN for Audit Forms / Audit certificates till 30th April, 2021. The U.....

Tags : Central Board of Direct Taxes, Uploading UDIN for Audit Forms/Audit Certificates

Draft Reporting System on Accounting Separation Regulations, 2016(22.02.2016)