Form 3CA-3CD & 3CB-3CD

Form 3CA-3CD & 3CB-3CD

CBDT enables e-filing of form 3CA-3CD and 3CB-3CD for AY 2022-23

CBDT enable E-filing of Tax Audit Report Form 3CA-3CD and 3CB-3CD for AY 2022-23 is enabled. Taxpayers can download Offline Utility through the “Downloads” Menu option

What is a Tax Audit?

Tax audit is a cross-examination of the books of accounts of the taxpayer by a Chartered Accountant (holding full-time Certificate of Practice) under the Income Tax Act 1961.

Section 44AB deals with the conditions under which Tax audit becomes mandatory for some taxpayers.

The main purpose of a tax audit is to verify the accuracy of the financial records and avoid any fraud or tax evasion.

What is a Tax Audit report?

The person conducting a tax audit has to provide the findings in a report using specified ‘Audit Forms’ prescribed by the income tax department.

Section 44AB prescribes Forms 3CA and 3CB. Along with these two forms, the auditor has to furnish a form 3CD. Let us discuss these forms in detail.

Prescribed Audit Forms

The audit report has to be furnished in either of the following forms:
(i) Form 3CA and (ii) Form 3CB

I. FORM 3CA

In respect of a taxpayer carrying on a business or profession and who is already mandated to get his accounts audited under any other law (i.e. law other than income tax law).
For instance, A company is required to get its accounts audited compulsorily under the Companies Act 2013. So, it will furnish Form 3CA.

Particulars of Form 3CA

  • Name and address of the taxpayer along with Permanent Account Number.
  • Name of the Auditor (Individual/ Firm as the case may be).
  • Law under which accounts have been audited (eg: Companies Act).
  • Date of Audit Report.
  • Period of Profit & Loss Account/ Income & Expenditure Account. (Beginning Date & End Date)
  • Date of Balance Sheet.
  • Declaration of attaching Form 3CD along with the audit report.
  • Audit Observations/ Qualifications found in the details related to Form 3CD.
  • Place & Date of signing audit report.
  • Name, Address, and Membership Number of the Auditor.
  • Stamp/ Seal of the Auditor.

II. FORM 3CB

In respect of a taxpayer carrying on a business or profession but who is not required to get his accounts audited under any other law.
A proprietorship entity or partnership firm, having a turnover of more than 1 crore and not opting for presumptive income scheme, is not required to get its accounts audited under any other law except income tax. So, it will furnish Form 3CB.  

Along with either of the forms mentioned above, the tax auditor shall also furnish Form 3CD which forms part of the audit report and contains the prescribed particulars.

Particulars of Form 3CB:

  • Date of Balance Sheet.
  • Period of Profit & Loss Account/ Income & Expenditure Account. (Beginning Date & End Date).
  • Name and address of the taxpayer along with Permanent Account Number (PAN).
  • Address, where the books of accounts are kept
  • Address of branches (if books are kept at branches also).
  • Audit Observations/ Qualifications/ Comments/ Discrepancies.
  • Declaration by the auditor regarding –
    • Obtaining all the information and explanations necessary for the audit.
    • Assurance that the organization (including branches) maintains proper books of accounts.
    • Balance sheet and Profit & Loss Account gives a true and fair view.
  • Declaration of attaching Form 3CD along with the audit report.
  • Audit observations/ discrepancies found in the details related to Form 3CD.
  • Place & Date of signing audit report.
  • Name, Address, and Membership Number of the auditor.
  • Stamp/ Seal of the auditor.

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