Checklist for Clauses 1 to 4 of Form 3CD in Tax Audit under the Income Tax Act, 1961

Section 44AB of the Income Tax Act, 1961, mandates the audit of books of accounts for assessees engaged in business or profession if their gross turnover or receipts exceed the prescribed threshold limit.

Part A of Form No. 3CD encompasses routine particulars in Clauses 1 to 8A. Specifically, Clause 1 requires the assessee’s name and branch details, if applicable; Clause 2 requires the address; Clause 3 mandates the PAN or Aadhaar Number for individuals and PAN for other entities, with a provision to note if PAN is not allotted; and Clause 4 necessitates details of indirect tax liabilities, such as registration or GST numbers.

To assist tax auditors, our team has prepared a comprehensive audit checklist for Clauses 1 to 4 of Form 3CD.

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