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Thread: Form No. 3CA

  1. #1
    Tax Audit Report
    Guest

    Default Form No. 3CA

    This form is used in a case where the accounts of the business or profession of a person have been audited under any other law.

    The form can be downloaded freely from the following link:

    http://www.knowledgebible.com/forum/showthread.php/2294-Form-no-3aa

    The first part of the report refers to the fact that the statutory audit of the assessee was conducted by a chartered accountant or any other auditor in pursuance of the provisions of the relevant Act,
    and the copy of the audit report along with the audited profit and loss account and balance sheet and the documents declared by the relevant Act to be part of or annexed to the profit and loss account and balance sheet, are annexed to the report in Form No. 3CA.

    In a case where the tax auditor carrying out the audit under section 44AB is different from the statutory auditor a reference should be made to the name of such statutory auditor.

    In case the statutory auditor is carrying out the audit under section 44AB, the fact that he has carried out the statutory audit under the relevant Act should be stated.

  2. #2
    Tax Audit Report
    Guest

    Default The first part of form 3CA

    The first part of the report refers to the fact that the statutory audit of the assessee was conducted by a chartered accountant or any other auditor in pursuance of the provisions of the relevant Act,
    and the copy of the audit report along with the audited profit and loss account and balance sheet and the documents declared by the relevant Act to be part of or annexed to the profit and loss account and balance sheet, are annexed to the report in Form No. 3CA.

  3. #3
    Tax Audit Report
    Guest

    Default The next part of form 3CA

    The next paragraph states that
    the statement of particulars required to be furnished under section 44AB is annexed with the report in Form No. 3CD.


    The tax auditor has to state further that, in his opinion and to the best of his information and according to the explanations given to him, the particulars given in the said annexure are true and correct.

  4. #4
    Tax Audit Report
    Guest

    Default In case any of requirements of this form is answered with qualification

    Where any of the requirements in this form is answered in negative or with qualification, the report shall state the reasons therefor.

    The tax auditor should state this qualification in the audit report so that the same becomes a comprehensive report and the user of the audited statement of particulars can realise the impact of such qualifications.
    In this regard the tax auditor should follow the "Statement on Qualifications in Auditors' Reports"

  5. #5
    Tax Audit Report
    Guest

    Default Case :

    In the case of a a person whose accounts of the business or profession have been audited under any other law, which has branches at various places, the branch accounts might have been audited by branch auditors under the statute. If the audit under section 44AB is also carried out by the same branch auditors or other chartered accountants, they should submit the report in Form No. 3CA to the management or the principal tax auditor appointed for the head office under Section 44AB. Attention in this regard is drawn to SAP-10 `Using the Work of Another Auditor' which discusses the procedures in this regard as well as the principal tax auditor's responsibility in relation to his use of the work of the branch auditor. The principal tax auditor should submit his consolidated report on the registered office/head office and branch accounts and report in his tax audit report as under :

    "I/We have taken into consideration the audit report and the audited statements of accounts, and particulars received from the auditors, duly appointed under the relevant law, of the branches not audited by me/us".


  6. #6
    Tax Audit Report
    Guest

    Default Form No. 3CA

    Item No. 4 of the notes to Form No. 3CA requires

    That the person, who signs this audit report, shall indicate reference of his membership No./certificate of practice number/authority under which he is entitled to sign this report.
    No separate certificate of practice number is allotted by ICAI.
    As such, where a chartered accountant acts as a tax auditor he should give his membership number with ICAI and the status such as proprietor or partner under which he has signed the report.

  7. #7
    Tax Audit Report
    Guest

    Default In case assessee have 1 or more branches outside India

    An assessee may have one or more branches outside India.

    The accounts of such branches are normally audited by the professional accountants overseas.
    The results of such branches are also incorporated in the consolidated accounts prepared in this country.
    In the case of foreign branches the relevant information in respect of such branches as is required by Form No. 3CD, may be obtained by the tax auditor in India from the assessee who should obtain the same from the overseas auditor who had audited the accounts of such foreign branches.
    The tax auditor in India while certifying the information in Form No. 3CD may rely upon the information obtained by him from the overseas auditor and while submitting his consolidated report in Form No.3CD he should specifically point out in his audit report as under:
    "I/We have taken into consideration the audit report and
    the audited statements of accounts, and particulars
    received from the auditors, appointed under the relevant
    law, of the overseas branches not audited by me/us".
    If the assessee is unable to obtain relevant information in respect of the overseas branches duly certified by the overseas auditor, the relevant facts should be suitably disclosed and reported upon.

  8. #8
    GJAFCA
    Guest

    Default Word Format - Form 3CA, Form 3 CA in word format

    The esteemed members/users of this portal can download the form 3 CA in word format for use of their own clients:
    Attached Files Attached Files

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