Risk Based Tax Audit

Chapter 1       Conceptual Framework of Risk Based Tax Audit                

Chapter 2       Legislative Scheme of Section 44AB                                    

Chapter 3       Relationship between Tax Audit, Statutory Audit and Special Purpose Reporting 

Chapter 4       Applicability of Tax Audit: Business, Profession and Presumptive Taxation           

Chapter 5       Sales, Turnover, Gross Receipts and Threshold Determination        

Chapter 6       Tax Auditor: Eligibility, Appointment, Independence and Professional Responsibility      

Chapter 7       Application of Standards on Auditing to Tax Audit

Chapter 8       Engagement Acceptance, Continuance and Engagement Letter      

Chapter 9       Audit Planning and Overall Tax Audit Strategy                   

Chapter 10     Understanding the Entity, Business Model and Tax Environment   

Chapter 11     Risk Assessment under SA 315 in a Tax Audit Context      

Chapter 12     Materiality in Tax Audit Reporting                                       

Chapter 13     Internal Control Evaluation for Tax Audit                            

Chapter 14     Fraud, Non-Compliance and Tax Audit Risk                        

Chapter 15     Audit Documentation and Working Papers                          

Chapter 16     Audit Evidence and Substantive Procedures                        

Chapter 17     Analytical Procedures in Tax Audit                                      

Chapter 18     Audit Sampling and Selection of Items for Testing              

Chapter 19     Use of Work of Others, Experts and Service Organisations in Tax Audit    

Chapter 20     Written Representations, Management Responsibility and Auditor’s Reliance        

Chapter 21     Completion Procedures and Final Review before Signing the Tax Audit Report    

Chapter 22     Reporting under Form No. 3CA, Form No. 3CB and Form No. 3CD         

Chapter 23     Foundational Reporting in Form No. 3CD: Basic Particulars, Business Profile, Books of Account, Method of Accounting and Stock Valuation        

Chapter 24     Reporting under Form No. 3CD: Clauses 15 to 20 — Deemed Income, Income Not Credited, Immovable Property, Depreciation, Specified Deductions and Employee-Related Payments                                                                                               

Chapter 25     Reporting under Form No. 3CD: Clauses 21 and 22 — Amounts Debited to Profit and Loss Account but Inadmissible or Reportable                               

Chapter 26     Reporting under Form No. 3CD: Clauses 23 to 26 — Specified Persons, Deemed Profits, Section 41 and Section 43B Liabilities                                  

Chapter 27     Reporting under Form No. 3CD: Clause 27 — CENVAT Credits and Prior Period Income or Expenditure                                                                           

Chapter 28     Reporting under Form No. 3CD: Clauses 28 to 30C — Omitted Clauses, Section 56 Income, Hundi Transactions, Secondary Adjustment, Thin Capitalisation and GAAR         

Chapter 29     Reporting under Form No. 3CD: Clause 31 — Loans, Deposits, Specified Sums, Specified Advances and High-Value Receipts/Payments                     

Chapter 30     Reporting under Form No. 3CD: Clauses 32 to 44 — Losses, Deductions, TDS/TCS, Quantitative Details, Deemed Dividend, Statutory Audits, Ratios, Tax Demands, SFT/CbCR and GST Expenditure Break-up                                            

Chapter 31     Sector-Specific Risk Considerations in a Risk Based Tax Audit under Section 44AB        

Chapter 32     Penalties, Deficiencies and Professional Misconduct Risks  

Chapter 33     Quality Management, Peer Review and Future of Risk Based Tax Audit