Re NashiCAs Query For 3CA

[mutha...@sancharnet.in]

In my opinion in case where the accounts are required to be audited under any other law and if such audit is not completed then the tax auditor cannot issue audit report in form No. 3CA or 3CB untill the audit is completed and as per Rule 6G(1)(a) the form prescribed in such case is Form No. 3CA and not 3CB. The rule 6G(1)(a) read as "---who is require by or under any other law to get his accounts audited, be in Form No. 3CA". mark the word "require by or under any other law".

In such case one has to wait for tax audit untill the statutory audit is completed because the report in Form No. 3CA is to be given only after audit under any other law has been completed as clearly mentioned in Form No. 3CA heading as "Audit Report--- where the accounts of the business or profession of a person have been audited under any other law". mark the words "have been audited".

The combined reading of the said rule as well as the head note given in the form No. 3CA makes it abundently clear that the tax-audit report in case of a assessee whose books of accounts are required to be audited under any other law is required to be issued in Form No. 3CA and that too only after completion of audit under the provisions of other law. The penaly U/s. 271B shall not be levied for delay in getting the tax audit report, as per provisions of section 273B of the I.T. Act, however there has to be reasonable cause for not getting audit done under the provisions of other law within time

[CA Paresh Bagrecha,FCA,Nashik]

Very good analysis of the provisions.Thanks
 

-CA.Paresh Bagrecha

 CA.Vivek Rathi

 Bagrecha Rathi and Co.

 Chartered Accountants

 Nashik

 Tel:0253-2319176

---

From: "mutha...@sancharnet.in" <mutha...@sancharnet.in>
To: nash...@googlegroups.com
Sent: Friday, 11 September, 2009 1:08:29 PM
Subject: Re NashiCAs Query For 3CA

In my opinion in case where the accounts are required to be audited under any other law and if such audit is not completed then the tax auditor cannot issue audit report in form No. 3CA or 3CB untill the audit is completed and as per Rule 6G(1)(a) the form prescribed in such case is Form No. 3CA and not 3CB. The rule 6G(1)(a) read as "---who is require by or under any other law to get his accounts audited, be in Form No. 3CA".  mark the word "require by or under any other law".

In such case one has to wait for tax audit untill the statutory audit is completed because the report in Form No. 3CA is to be given only after audit under any other law has been completed as clearly mentioned in Form No. 3CA heading as "Audit Report--- where the accounts of the business or profession of a person have been audited under any other law". mark the words "have been audited".

The combined reading of the said rule as well as the head note given in the form No. 3CA makes it abundently clear that the tax-audit report in case of a assessee whose books of accounts are required to be audited under any other law is required to be issued in Form No. 3CA and that too only after completion of audit under the provisions of other law. The penaly U/s. 271B shall not be levied for delay in getting the tax audit report, as per provisions of section 273B of the I.T. Act, however there has to be reasonable cause for not getting audit done under the provisions of other law within time 

---

Yahoo! India has a new look. Take a sneak peek.

[Avinash Shukla]

Dear Sir,

Does that mean, all the entities which are required to be audited under IT act and to whom the MVAT is also applicable, there will be reasonable cause for not getting the books audited under the other law (MVAT) upto 30.09, and the penalty cannot be levied u/s 271B.

in such case the due date under IT act for getting the audit done becomes irrelevant, for all the entities to whom MVAT is applicable.

Regards to all

--
CA. A. A. Shukla.
Chandorkar's, First Floor, Old Gurudwara Road, Opp. Hotel Sandeep, Nashik - 422 002, Mo: 09890184190, Ph: 0253-6611245

[CA OMPRAKASH SOMANI]

In respect of VAT audit there is no certfication to Balance sheet & P L a/c & hence the logic applied can not be accepted CA Omprakash K Somani, Partner Ashok S Zawar & Co, Chartered Accountants, Nashik --- On Mon, 14/9/09, Avinash Shukla <caaas...@gmail.com> wrote:

Try the new Yahoo! India Homepage. Click here.