Draft of other Relevant Certificates in Relation to Tax Audit

A tax audit is an assessment of accounts for income tax purposes to guarantee accuracy and compliance. It is led by a Chartered Accountant and tries to check income tax returns. The turnover threshold for an audit is Rs.1 crore for businesses and Rs.50 lakhs for professions.

We are presenting various relevant certifications in relation to the Tax Audit, in this article.

Certificate undersection 40A(3) of The Income Tax Act, 1961 PREPARED BY CA NITIN KANWAR:

(Letter Head of the Auditee)

To

(Name of the auditor) Chartered Accountants

(Address)

Subject: Tax Audit of the accounts for the year ended on 31st March 2024

We hereby certify that all the payments made for expenditure covered u/s 40A (3) of the Income Tax Act, 1961 during the previous year were made by account payee cheques drawn on a bank or account payee bank draft. No such payment is made in cash or through bearer cheques.

For M/s———————–
——————————–

(Partner/ Proprietor/ Director/ Member)

Certificate under section 269SS and 269T of The Income Tax Act, 1961 PREPARED BY CA NITIN KANWAR:

(Letter Head of the Auditee)

To

(Name of the auditor)

Chartered Accountants

(Address)

Sub: CERTIFICATE FOR SECTION 269SS AND 269T in context to Audit u/s 44AB of the Income Tax Act, 1961 for the year ended on 31st March, 2024.

Dear Sir,

We hereby certify that all the loan /deposits taken /accepted in an amount exceeding the limits specified in section 269SS of the Income Tax Act, 1961 and repayment thereof as specified u/s 269T of Income Tax Act 1961 during the assessment year under consideration is either through an account payee cheque or an account payee bank draft.

We further certify that no loan/deposit was accepted in cash or through bearer cheque and no repayment was made in a mode other than specified in section 269SS or 269T of the Income Tax Act, 1961.

For M/s———————–
———————————-

Partner/ Proprietor/ Director/ Member

DSC Authorisation Certificate Prepared By CA NITIN KANWAR:

(Letter Head of the Auditee)

To

(Name of the auditor)

Chartered Accountants

(Address)

Sub: Authorization of Digital Signature for Income Tax Matters for the F.Y 2023-24

Dear Sir,

I, (Name of concerned person) S/o———————————- R/o (Address of the concerned person) (PAN————————————-) Partner/ Proprietor/ Director/ Member of M/s——————— authorize you (i.e. (Name of the CA), M.No————————- to use by Digital Signature for all Income Tax Matters.

For M/s———————————–
——————————————–

(Partner/ Proprietor/ Director/ Member)

Certificate as to Receipt of Books of Accounts and other documents after Audit Prepared by CA NITIN KANWAR:

(Letter Head of the Auditee)

To

(Name of the Auditor)

(Address)

Sub: Receipt of all Documents and Books of Accounts from the auditor for the F.Y. 2023-24

Dear Sir,

I, (Name of concerned person) S/o————————- R/o (Address of the concerned person) (PAN:——————————) Partner/ Proprietor/ Director/ Member of M/s———————– have received all documents, Bank Book, Purchase Register, Sale Register and all other Books of Accounts (computerized) from the auditor after completion of my/our audit.

I further acknowledge that all the above-said documents are in my/our possession for future reference.

For M/s————————

(Partner/ Proprietor/ Director/ Member)

Disclaimer: This Article is shared by CA NITIN KANWAR. He can be reached at [email protected].