Income tax articles news forum experts files notifications. In 1894,this scheme was extended to the local audit of municipalities in sind,and to the municipalities in the northern division. Download revised statutory audit report format for f. Maharashtra state data bank,government of maharashtra. Highlights a performance audit on information technology audit of government. We have audited the accompanying standalone financial statements of nbcc indialimited herein referred to as the company which comprise the balance sheetas at march 31 2019 the statement of profit and loss including other comprehensiveincome the statement of changes in. We have also incorporated audit checks on important areas of direct taxes to be exercised during field audit. Computerized desk audit department of goods and services tax. After the honble president has given assent to the finance bill, 2015 on thursday, may 14, 2015, the ministry of finance, department of revenue vide notification no. Itrtax audit due date extension for last 15 years from ay 200304 to ay 201920. Accordingly the section 81 of the maharashtra cooperative societies act is. What is professional tax and professional tax slab rate in.
This audit manual which is a guide for tax officers conducting audit of vat dealers, outlines the policy, general rules and procedures to be followed. Mvat rate schedule b list of the goods which the rate of tax is 1% or 1. Audit report for the year ended 31 march 2014 on revenue sector 82 section a maharashtra tax on buildings with larger residential premises 6. Elementary study of sa 230 revised audit documentation. Sales and value of goods transferred outside the state other than by way of sales should exceed one crore up to financial year 2012 limit was rs. Under the existing provisions of section 44ab, of income tax act, every person carrying on business is required to get his accounts audited 1 if the total sales, turnover or gross receipts in the previous year exceed sixty lakh rupees. Our commitment to quality and celerity has been the cornerstone our subsistence and the same is symbolises by our client list. Tax audit in terms of section 44ab of the incometax act, 1961. It would have been better if the date for manual filing of return and tax audit report are also extended. As per the provisions of maharashtra value added tax act, 2002 mvat, a dealer is.
The person is carrying on business and his total salesturnover exceeds rs. List of ca firms empaneled for cooperative audit in. Rate schedule under the maharashtra value added tax mvat. Service tax rate chart since inception and as applicable for the financial year 2014 as per service tax act and rules in india, exemption limit for small scale service provider,due date to deposit service tax in case of partnership firms and individual and due date for payment chart for other persons,various abatement available in. Now that tax audit efiling is mandatory, the chartered accountant conducting the tax audit would also be required to prepare the tax audit report in electronic format. We have audited the standalone financial statements of interglobe aviation limitedthe company which comprise the standalone balance sheet as at 31 march2019 and the standalone statement of profit and loss including other comprehensiveincome the standalone statement of. Jan 24, 20 plzz anyone can tell me the slab of professional tax in maharashtra for f y 2012 income tax. For viewing the copy of the notification please follow the link provided with the respective subjects. Mvat rate schedule under maharashtra value added tax. Maharashtra state data bank get all important indicators of census, annual plan, prices, surveys. This article contains all the important checks to be done while auditing indirect tax process during internal audit. If the firm undertakes all the 240 tax audit assignments, the partners would not be in a position to undertake any tax audit assignment in their personal capacity. Handmade laundry soap manufactured by units certified by the maharashtra state khadi and village industries board constituted under the bombay khadi and village industries act, 1960, but excluding detergent.
Rate schedule under the maharashtra value added tax. This form of tax was first levied in india in the year 1949 and the power to levy professional tax has been given to the states by way of clause 2 of. Professional tax in maharashtra state doc download archive 14 replies 1 files participants. The department of sales tax has issued notification no. Settlement of arrears of tax, interest, penalty or late fee for the period ending on or before 30. Chaptervii finance department, government of maharashtra. Download for corporate and noncorporate assessees section 234a, 234b and 234c of the income tax act, 1961 deals with interest for delay in itr filing or shortnon deposit of advance tax. Along with this good amendment, the limit for turnover upto which tax audit is not required a has also been enhanced to 1 crore. May, 20 earlier the employers were required to submit manual return in form 405 to the. Halo medical foundation at post andur, block tuljapur, dist.
Mumbai metropolitan region development authority maharashtra. Mar 28, 2012 the new tax rate will be five per cent for cng vehicles costing up to rs 10 lakh, 6% for vehicles costing between rs 10 to 20 lakh and seven per cent for above rs 20 lakh. However the sale price of such goods has to be determined in accordance with the provisions contained in rule 58 of the maharashtra value added tax rules, 2005. The revenue collected by the std during the years 200809 to 2012 as per the finance accounts. Now pay tax under ptec and ptrc together in one challan.
Physical submission of audit report in form 704 for fy 2018 19. Vat audit is applicable only if tax audit is applies to you concern. Gstam2019 central board of indirect taxes and custom goods and services tax audit manual 2019 directorate general of audit s. Nagpur branch of wirc of icai icai bhawan, 201, dhantoli, nagpur 440 012. It is good news for all as the limit up to which a person can file tax return us 44ad has been enhanced to 1 crore. Tax audit limit 44ab enhanced from 60 lakh to 100 lakh,15. Services rendered by maharashtra state tax department under maharashtra right to public service act. Audit in vat act is of two types one is the audit to be done by chartered accountant or cost accountant by the dealer himself whose turnover exceeds re. Audit report for the year ended 31 march 2017 on revenue sector 22 2. Tax audit is applicable for turnover crosses 60lakhs for f y 201011. Director general of audit, new delhi has published service tax audit manual, 2010.
Due dates of filing income tax returns and tax audit report. Agriculture assured 3 phase supply to pumps in rotation either. Changes to note in online income tax return filing fy 2012. Vatinfoline was launched in the year 2005 by a group of young professionals. Rule 7 of the service tax rules, 1994 envisages that every person liable to pay service tax has to submit halfyearly return in form st3 within 25 days of the end of the halfyear. Any suggestion in this regard is most welcome and may be addressed to the sra hqrs, oo the ag audit ii maharashtra nagpur for further improvement in future. In short span of time it has become a leading information service provider to corporates, ca firms and tax consultants. Cags audit reports comptroller and auditor general of india. Interglobe aviation auditors report business standard news. Professional tax is a tax which is levied by the state on the income earned by way of profession, trade, calling or employment. Maharashtra, tami nadu, west bengal and uttar pradesh and category b. Oct 14, 2010 vat audit is applicable only if tax audit is applies to you concern. The rate of tax, on such deemed sales of goods, used in the execution of works contract, shall remain same as prescribed in the aforesaid schedules to the respective goods.
Goods covered under entry c70 in the schedule of maharashtra value added tax act, 2002. Mvat rate schedule a list of the goods which the rate of tax is nil. Goods and services tax maharashtra state sgst department has corrected the mistake. Manual filing and processing of claim of refund of excess balance in electronic cash ledger. Jul 31, 2017 itr tax audit due date extension for last 15 years from ay 200304 to ay 201920. Professional tax rules in gujarat like slab, date of. Sanction order of newly selected assessment cases a. With effect from june 2012 north maharashtra university. The new tax rate will be five per cent for cng vehicles costing up to rs 10 lakh, 6% for vehicles costing between rs 10 to 20 lakh and seven per cent for above rs 20 lakh. The person is carrying on profession, and his gross receipts exceed rs.
An external audit branch was created in the office of the accountant general,mumbai in 1884 to audit locally the accounts of certain department,trust funds etc which were not subject to the regular audit of the account general. Under section 44ab of income tax act, the specified date for furnishing the tax audit report is the due date for filing of income tax return applicable to the assessee. Abcausexcel for chartered accountants ca ashutosh lohani. Filing of returns by the assessees as well as preliminary scrutiny of returns by range officers is carried out online through aces since 200910. Commercial tax department, government of uttarakhand, india. The draft annual accounts of the authority along with item note are prepared and submitted to the authority for its approvaladoption as per the section f of mmrda finance regulation, 1976 for the each financial year.
We have audited the standalone financial statements of interglobe aviation limitedthe company which comprise the standalone balance sheet as at 31 march2019 and the standalone statement of profit and loss including other comprehensiveincome the standalone. Auditors list updated on 30th march 20 orders of honble commissioner regarding empanelment of auditors auditor panel list amravati aurangabad kolhapur. To the members of nbcc india limited report on the audit of the standalone financialstatements opinion. Income tax act, 1961 80g51462012 permanent account number pan aaath2836f tax deduction and collection account number tan nskh054d registration no for professional taxas an entity under maharashtra state tax on professional,trades,calling on employments act,1975 registration no for professional taxas. Cda schemes for the periods of 2012 and 2014 within a period of next six. The institute of chartered accountants of india the nagpur. Dec 26, 2014 mvat audit is applicable for following dealers for financial year 202014. The revenue audit manual on direct taxes in use at present was last. Services rendered by maharashtra state tax department under maharashtra right to public service act, along with list of first and second appellate authority. Extension of date for filing audit report in form 704 for 2012 by developers. New template of form e 704 audit report for fy 201819 is deployed on mahagst site in downloads forms electronic forms e704.
Mvat audit is applicable for following dealers for financial year 202014. Income tax act, 1961 80g5146 2012 permanent account number pan aaath2836f tax deduction and collection account number tan nskh054d registration no for professional tax as an entity under maharashtra state tax on professional,trades,calling on employments act,1975 registration no for professional tax as. We have audited the accompanying standalone financial statements of nbcc indialimited herein referred to as the company which comprise the balance sheetas at march 31 2019 the statement of profit and loss including other comprehensiveincome the statement of changes in equity and. Under section 44ab of income tax act, the specified date for furnishing the tax audit report is the due date for. Updated list of allotment of cases selected for issue base audit for the period 2012 and for. The government hereby extends the time limit to complete the assessment cases for the financial year 2012 to 31st january, 2016. The manual consists of eight chapters and 21appendices. Last date for efiling of tax audit extended the economic times. In this article you can find complete check list for auditing of excise and serivce tax laws and auditing of value added tax central sales tax. Excel auto 234abc interest calculator for ay 201920 with accurate calculation as per revised provisions. Vilgst home updates on gst, vat, service tax, central. The minister also announced an amnesty scheme for outstanding electricity duty. It is preferable that audit of all such units is done by using computer assisted audit program caap techniques. Report of the comptroller and auditor general of india on.
Registration under the maharashtra tax on luxuries act,1987 and the maharashtra tax on the entry of goods in to local areas act, 2002. An assessee is liable to get his tax audit done by a chartered accountant mandatorily, if in the previous year. The central board of direct taxes, new delhi has now introduced the new. Internal audit checklist for audit of indirect taxes. Halo medical foundation at post andur, block tuljapur. Documentation audit working papers audit files permanent and current audit files ownership and custody of working paper. A description of cement production, including procedures, documentation, taxability, and related topics to assist in auditing cement tax.
Rate schedule under the maharashtra value added tax mvat act 2002, up to 30. The income tax department never asks for your pin numbers, passwords or similar access information for credit cards, banks or other financial accounts through email the income tax department appeals to taxpayers not to respond to such emails and not to share information relating to their credit card, bank and other financial accounts. Report on the audit of the standalone financial statements opinion. What is limit of vat audit of account in maharashtra. Annual accounts of the authority of all funds such as mmrda fund, mudp rf, megacity rf are prepared with relevant books of accounts. The commissioner of sales tax, maharashtra state cst heads the. While reading the manual the difficult words or expressions or abbreviation in our judgment are explained in the last chapter of the manual. As per the guidelines, tax payers whose annual service tax payment including cash and cenvat was rs. Mvat rate schedule under maharashtra value added tax updated up to 1st october 2015. Custom goods and services tax audit manual 2019 directorate general of audit s. Revised service tax rate 14% applicable from june 1. Oct 30, 2012 under the existing provisions of section 44ab, of income tax act, every person carrying on business is required to get his accounts audited 1 if the total sales, turnover or gross receipts in the previous year exceed sixty lakh rupees. Ereturns for dealers registered under the maharashtra tax on luxuries act, 1987 1t of 2016 dated 01012016 registration under the maharashtra tax on luxuries act,1987 and the maharashtra tax on the entry of goods in to local areas act, 2002. Department of goods and services tax department of goods.
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