21 Basic Income Tax Audit Checklist Points:

21 Basic Income Tax Audit Checklist Points Check Opening from Last Years Audited BS Turnover Reconcilliation from GSTR-1 Check that GSTR-1 Matches wi…

Tax Audit Checklist

CA Pratibha Goyal

Sep 16, 2023

Last update on Sep 16, 2023

21 Basic Income Tax Audit Checklist Points

Check Opening from Last Years Audited BS
Turnover Reconcilliation from GSTR-1
Check that GSTR-1 Matches with GSTR-3B
GSTR-2B Reconcilliation with Books
TDS Reconcilliation as per Form 26AS
Check for TDS carried forward from Last FY and TDS Carried to Next FY
GST Cash Ledger Reconcilliation
GST Liability Ledger Reconcilliation
GST Credit Ledger Reconcilliation
Bank Reconcilliation
Cash Balance-Check if balance is not Negative
Cash: Check for Cash Expenses/Fixed Assets purchased in cash, that are surpassing 10K Limit
Cash: Check for Cash Reciept or payment of more than Rs. 2,00,000
Check for TDS Deducted as per requirement, TDS Return filed
Provisions booked in March 2023: Check for TDS
Check for Prior Period Expenses
Check for Applicability of Accounting Standards
Check for Debtors and Creditor. Take Ledger confirmations
Calculation of Income Tax Liability for Provision of Income Tax
Check for related party transactions
GST: Check for segregation of Exempt, Taxable Expenses, Expenses from Registered, Unregistered Person for clause 44

The List is Inclusive not Exaustive

About Author

CA Pratibha Goyal

Co Founder

CA Pratibha Goyal is Chartered Accountant qualified in 2016, is a Member of The Institute of Chartered Accountants of India having wide experience in the field of Auditing, Taxation, ROC, GST and Secretarial matters etc. She has written over a thousand articles & has made several videos on topics related to Auditing & Taxation. As a Speaker she has delivered various sessions on various branches of NIRC of ICAI.