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E filing of Audit report

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  • 1. B Y C A M U K E S H B A N S A L 9 3 5 0 7 7 4 5 1 5 CA MUKESH BANSAL 9350774515 Downloaded from:www.simpletaxindia.net ONLINE FILING OF TAX AUDIT REPORTS
  • 2. BACKGROUND CA MUKESH BANSAL 9350774515 Downloaded from:www.simpletaxindia.net As per Notification No.34/2013 dated 01/05/2013, E- filing of audit reports shall be mandatory in following cases: (a) Audit report under Sec. 44AB in respect of books of account; (b) Audit report under Sec. 92E in respect of international transaction; or (c) Audit report under Sec. 115JB in respect of MAT computation.
  • 3. CONTD.. CA MUKESH BANSAL 9350774515 Downloaded from:www.simpletaxindia.net Pursuant to amendment in rule 12 of the Income Tax Rules, by the notification no 42 dated 11/6/2013, the following proviso has been inserted in sub- rule (2) of rule 12.  “Provided that where an assessee is required to furnish a report of audit specified under sub-clauses (iv), (v), (vi) or (via) of clause (23C) of section 10, section 10A, clause (b) of sub-section (1) of section 12A, section 44AB, section 80-IA, section 80- IB, section 80-IC, section 80-ID, section 80JJAA, section 80LA, section 92E or section 115JB of the Act, he shall furnish the same electronically.”
  • 4. Procedure for E-filing The procedure for E filling can be summarised in the following Four steps: 1. Registration as Tax Professional on Income Tax E filing Website 2. Engaging Tax Professional by Assessee 3. Uploading of Form 3CB by Tax Professional (CA) and 4. Approval of Form 3CB by Assessee CA MUKESH BANSAL 9350774515 Downloaded from:www.simpletaxindia.net
  • 5. REGISTRATION AS TAX PROFESSIONAL ONE TIME ACTIVITY The pre-requisites for registering as Chartered Accountant in e-Filing are: 1. The person should be a practicing Chartered Accountant (registered with Institute of Chartered Accountants of India, ICAI, with a valid Membership Number) 2. He/she should have a valid Permanent Account Number (PAN) and Digital Signature Certificate. CA MUKESH BANSAL 9350774515 Downloaded from:www.simpletaxindia.net
  • 6. CA MUKESH BANSAL 9350774515 Downloaded from:www.simpletaxindia.net
  • 7. If you are a new user, click on the Register Yourself button Registration CA MUKESH BANSAL 9350774515 Downloaded from:www.simpletaxindia.net
  • 8. Registration Select “Chartered Accountant” against the radio button found under “Tax Professional” and click on the CONTINUE button. CA MUKESH BANSAL 9350774515 Downloaded from:www.simpletaxindia.net
  • 9. The REGISTRATION FORM screen will appear. Enter the details, upload the Digital Signature Certificate (DSC) and click CONTINUE button. Registration CA MUKESH BANSAL 9350774515 Downloaded from:www.simpletaxindia.net
  • 10. On successful validation, you will be directed to the next page of registration where you have to enter additional details like Password, Contact details, email Id and enter the Code displayed on the screen and click on the SUBMIT button. Registration Note: Make sure you provide a valid mobile number and email ID, as all the future communications will be sent to this mobile no. & email ID. CA MUKESH BANSAL 9350774515 Downloaded from:www.simpletaxindia.net
  • 11. Successful Registration On successful registration, a message will be displayed along with a transaction ID. An email with the user ID and activation link will be sent to your registered email ID.  Login to your email ID and click on the activation link. To login to e- Filing, you must activate your account.  You can now login and use the services on the portal. CA MUKESH BANSAL 9350774515 Downloaded from:www.simpletaxindia.net
  • 12. CA MUKESH BANSAL 9350774515 Downloaded from:www.simpletaxindia.net
  • 13. Assessee can add CA to upload the Forms (other than ITR) on his/her behalf. 1. Assessee should Login to e-Filing portal 2. Navigate to My Account -> Add CA 3. Enter the Membership no of the CA, select the Form and Assessment Year and enter captcha. Steps to Add CA – Annual Activity CA MUKESH BANSAL 9350774515 Downloaded from:www.simpletaxindia.net
  • 14. Steps to add CA Some important points: At the time of adding CA , we have to fill only membership number and the name of CA will be automatically filled in. An email will be sent to the CA whose name has been added as such with the required particulars of Assessee. An email will also be sent to the Assessee regarding engagement of CA for particular year. CA MUKESH BANSAL 9350774515 Downloaded from:www.simpletaxindia.net
  • 15. Being a registered user on the portal, you can file Forms (Other than ITR) electronically. The pre-requisites for e-Filing are: 1. Assessee and the CA should be registered on e- Filing website 2. Assessee should have added the CA for the desired Form and Assessment Year Submission of Forms (Other than ITR) CA MUKESH BANSAL 9350774515 Downloaded from:www.simpletaxindia.net
  • 16. Downloading of Offline utility CA MUKESH BANSAL 9350774515 Downloaded from:www.simpletaxindia.net
  • 17. CA MUKESH BANSAL 9350774515 Downloaded from:www.simpletaxindia.net
  • 18. Preparation of Utility CA MUKESH BANSAL 9350774515 Downloaded from:www.simpletaxindia.net
  • 19. Select Appropriate Form CA MUKESH BANSAL 9350774515 Downloaded from:www.simpletaxindia.net
  • 20. Steps for submission of Offline Forms 1. GO TO 'Downloads' section and select applicable Form (other than ITR) of the relevant Assessment Year 2.Download and fill the utility of the Form (other than ITR) and validate. 3.Generate an XML file and save at desired path / destination of your system. (c:/fakepath/….) CA MUKESH BANSAL 9350774515 Downloaded from:www.simpletaxindia.net
  • 21. Steps for submission of Offline Forms 1. LOGIN to e-Filing application and GO TO --> e-File - -> Upload Form 2.Enter the Assessee PAN, CA’s PAN; select the Form Name (other than ITR) and the Assessment Year. 3.Browse and Select the XML file CA MUKESH BANSAL 9350774515 Downloaded from:www.simpletaxindia.net
  • 22. 7. Upload Digital Signature Certificate. 8. Click 'SUBMIT'. 9. On successful upload, the Form (other than ITR) is sent to Assessee's workflow for acceptance. 10. The Assessee should LOGIN to e-Filing application, GO TO Worklist and accept/reject the Form (other than ITR). 11. A) On Approval, the Form is successfully submitted with e- Filing application. No further action is required. B) If Rejected, the Tax Professional can file the Form (other than ITR) again and follow the same process again. Steps for submission of Offline Forms CA MUKESH BANSAL 9350774515 Downloaded from:www.simpletaxindia.net
  • 23. Contd…  Four attachments are required: 1. Balance Sheet (Mandatory) 2. Profit & Loss Account (Mandatory) 3. Cost Audit Report 4. Excise Audit/other audit report Attachments must be either in “zip” or “pdf” format and with size up to 50 MB CA MUKESH BANSAL 9350774515 Downloaded from:www.simpletaxindia.net
  • 24. Approval/Rejection by assessee After uploading of form by CA, Assessee has an option to approve or reject the form He can also see and download the attachments and form uploaded by the CA For approval as well as rejection he has to digitally sign For rejection he has to give reasons (min 50 and max 250) CA MUKESH BANSAL 9350774515 Downloaded from:www.simpletaxindia.net
  • 25. CA MUKESH BANSAL 9350774515 Downloaded from:www.simpletaxindia.net
  • 26. CA MUKESH BANSAL 9350774515 Downloaded from:www.simpletaxindia.net
  • 27. Uploading of form CA MUKESH BANSAL 9350774515 Downloaded from:www.simpletaxindia.net
  • 28. CA MUKESH BANSAL 9350774515 Downloaded from:www.simpletaxindia.net
  • 29. Error message- if any CA MUKESH BANSAL 9350774515 Downloaded from:www.simpletaxindia.net
  • 30. Confirmation of uploading CA MUKESH BANSAL 9350774515 Downloaded from:www.simpletaxindia.net
  • 31. Assessee account position before approval CA MUKESH BANSAL 9350774515 Downloaded from:www.simpletaxindia.net
  • 32. Form approved CA MUKESH BANSAL 9350774515 Downloaded from:www.simpletaxindia.net
  • 33. Form rejected- reasons to be given CA MUKESH BANSAL 9350774515 Downloaded from:www.simpletaxindia.net
  • 34. CA MUKESH BANSAL 9350774515 Downloaded from:www.simpletaxindia.net
  • 35. CA MUKESH BANSAL 9350774515 Downloaded from:www.simpletaxindia.net
  • 36. Checking of status from Income Tax Website CA MUKESH BANSAL 9350774515 Downloaded from:www.simpletaxindia.net
  • 37. Features of Forms  Calendar for dates In text field, the maximum character and remaining character shown at bottom User will be prompted, if any field left blank Add/remove and edit option available Save Draft option available All amount in Rupees rounded off In case of %, fill only value In PAN field, NO auto check available CA MUKESH BANSAL 9350774515 Downloaded from:www.simpletaxindia.net
  • 38. Benefits Minimize chances of mismatch between the return and report CA can keep track of his limit of tax audit. (45) There may be cases where Assessee deliberately do not disclose the disallowance/ remarks of tax auditor Earlier since signed report was not available, it was difficult for the Deptt. to trace such instances. CA MUKESH BANSAL 9350774515 Downloaded from:www.simpletaxindia.net
  • 39. Benefits (contd.)  As per Section 44AB, it is the duty of the Assessee to furnish Tax Audit Report.  Assessee who has more than one tax auditor, has to obtain one combined tax audit report, since only one CA can file TAR of one assessee.  TAR has to be signed by the CA in his individual capacity since there is no column for mention of Firm name. Contd… CA MUKESH BANSAL 9350774515 Downloaded from:www.simpletaxindia.net
  • 40. Issues Tax Audit report has to be filed on or before date of filing return of income. All observations/qualifications/Disclaimer to be given in Column 3(a), no option to modify Form 3CA & 3CB CA MUKESH BANSAL 9350774515 Downloaded from:www.simpletaxindia.net
  • 41. Issues Every partner of the firm has to keep track of audit reports signed by him since Tax Audit Report has to be digitally signed by CA in his individual capacity. For audit period of F.Y. 2012-13 partners will not be able to sign audit reports on behalf of other partners. Import facility not available. CA MUKESH BANSAL 9350774515 Downloaded from:www.simpletaxindia.net
  • 42.  After you login, the blue navigation bar on top will display additional menu options.  The Dashboard option will provide the current notifications  My Account option will provide services such as View Forms and View Client List.  The e-File and Downloads options, will allow you to file your return and download Forms, respectively. Services CA MUKESH BANSAL 9350774515 Downloaded from:www.simpletaxindia.net
  • 43.  The Profile Settings option will allow you to update your profile, details like digital signature upload, secret question, contact details, change password, etc.  The Work list option will provide list of items, which may be pending for action at your end.  The Helpdesk option will allow you to raise a ticket, if you face any issues while e-Filing and check status of the ticket, if raised. CA MUKESH BANSAL 9350774515 Downloaded from:www.simpletaxindia.net
  • 44. Verification of Forms (other than ITR)  There are some statutory Forms like Form 62, Form 63, Form 63A and Form 64 which needs to be initiated by Assessee and reviewed by CA. On finding the Forms in order, CA will approve and an acknowledgment number is generated.  Steps to verify submitted Forms (other than ITR) of Assessee 1. The CA should LOGIN to e-Filing application, GO TO Worklist and verify the Income Tax Form (other than ITR) submitted by the Assessee. 2. Upload Digital Signature Certificate. 3. Click 'SUBMIT'. 4. The Form is successfully submitted with e-Filing application. No further action is required. CA MUKESH BANSAL 9350774515 Downloaded from:www.simpletaxindia.net
  • 45. View Forms My Account View Forms displays the list of Forms uploaded by CA for an assessee. The CA will type the PAN of the assessee and clicks SUBMIT button CA MUKESH BANSAL 9350774515 Downloaded from:www.simpletaxindia.net
  • 46. View Client List View Client list displays the list of clients of the CA. My Account contd… CA MUKESH BANSAL 9350774515 Downloaded from:www.simpletaxindia.net
  • 47. CA MUKESH BANSAL 9350774515 Downloaded from:www.simpletaxindia.net THANK YOU CA MUKESH BANSAL 9350774515