Live online Practical Tax Audit Course

Description

Tax audits are an essential aspect of ensuring compliance with the Income Tax Act, 1961. As businesses grow and regulations evolve, the importance of understanding the intricacies of tax audits becomes paramount for professionals in the field. This 5-day intensive course is designed to equip participants with a comprehensive understanding of the tax audit process under Section 44AB, including the ethical responsibilities, recent amendments, and detailed analysis of mandatory forms like 3CA, 3CB, and 3CD. Participants will gain practical insights through case studies, real-life examples, and interactive sessions, ensuring they are well-prepared to conduct tax audits with accuracy and integrity.

5-Day Tax Audit Course Outline (4 Hours Daily in 2 Session)

Day 1, Session 1: Introduction to Tax Audit Under Section 44AB
Session Overview:

• Introduction to the concept of tax audit under Section 44AB of the Income Tax Act, 1961.
• Understanding the legal framework and objectives behind the tax audit.
• Overview of the entire course and its structure.

Day 1, Session 2: Applicability of Tax Audit U/S 44AB
Session Overview:

• Detailed discussion on the applicability of tax audits for different types of assessees (individuals, HUFs, firms, companies).
• Exploration of threshold limits for turnover and gross receipts.
• Case studies on different scenarios of tax audit applicability.

Day 2, Session 3: Presumptive Taxation and Exemptions from Tax Audit
Session Overview:

• Explanation of presumptive taxation schemes under Sections 44AD, 44ADA, and 44AE.
• Interaction between presumptive taxation and tax audit requirements.
• Analysis of exemptions and how they affect audit obligations.

Day 2, Session 4: Recent Amendments and Updates in Tax Audit
Session Overview:

• Overview of the recent changes in tax audit provisions and threshold limits.
• Discussion on how amendments affect the audit process and requirements.
• Practical examples highlighting the impact of these changes.

Day 3, Session 5: Role and Responsibilities of a Tax Auditor
Session Overview:

• In-depth discussion on the role of the tax auditor.
• Understanding the auditor’s responsibilities, including documentation, audit planning, and reporting.
• Importance of maintaining independence and objectivity.

Day 3, Session 6: Ethical Issues in Tax Audit
Session Overview:

• Overview of ethical principles in auditing, focusing on confidentiality, integrity, and independence.
• Discussion on common ethical dilemmas faced by auditors.
• ICAI guidelines on ethical practices and compliance.

Day 4, Session 7: Form 3CA and 3CB – Clause by Clause Analysis (Part 1)
Session Overview:

• Introduction to Form 3CA and 3CB.
• Detailed analysis of the initial clauses, including the scope, purpose, and specific requirements.
• Practical examples and common errors in filling out these forms.

Day 4, Session 8: Form 3CA and 3CB – Clause by Clause Analysis (Part 2)
Session Overview:

• Continuation of the clause-by-clause analysis of Form 3CA and 3CB.
• In-depth discussion on specific clauses requiring detailed reporting.
• Tips for ensuring accuracy and compliance.

Day 5, Session 9: Form 3CD – Clause by Clause Analysis (Part 1)
Session Overview:

• Introduction to Form 3CD and its significance in the tax audit process.
• Clause-by-clause analysis of the initial sections, focusing on legal interpretations and reporting standards.
• Addressing common pitfalls and errors.

Day 5, Session 10: Form 3CD – Clause by Clause Analysis (Part 2)
Session Overview:

• Continuation of the clause-by-clause analysis of Form 3CD.
• Discussion on the remaining clauses with practical examples.
• Summary of the entire course, Q&A, and final remarks on the importance of compliance and accuracy in tax audits.

This course, priced at ₹5,999/- plus GST per participant, includes a complimentary access to the Tax Audit GPT tool, available until September 30th.