Tax, Tax & Tax in Tax Audit. 

on Saturday, 10th October, 2020 from 04:30 PM onwards

by CA (Dr) Rakesh Gupta, Ex Member - ITAT.

No Fees

Webinar Live at CA Sansaar YouTube Channel.

https://bit.ly/3jY8Qwu

Few of the issues in ‘Tax,Tax & Tax in Tax Audit’ Webinar.

1. Can a partnership professional firm having turnover, say, of Rs. 45 lacs but having loss from profession claim that since its total income is less than basic exemption limit, it is not required to keep & maintain books of account as per the mandate of section 44ADA(4)?

2. Whether an Individual CA having professional receipt, say, of Rs. 40 lacs & declaring professional income of Rs. 25 lacs viz. more than 50% is not required to keep & maintain books of accounts as per the law to be inferred from section 44ADA(1)&44ADA(4)?

3. Whether it is mandatory to declare income under section 44AD(1) and if no, whether audit u/s 44AB is mandatory?

4. once you claim the benefit of section 44AD(1), whether to apply section 44AD(1) becomes perpetual and unending?

5. What is the reasonable interpretation of section 44AD(4) if in a subsequent year your business crosses the turnover limit of Rs 2 crores?

6. Can an Individual carrying on 3 different & distinct businesses each having sales of less than Rs 1 crore declare income u/s 44AD(1), if yes then why and if no, then why?

7. Whether a charitable trust carrying on business having sales more than Rs. 1 crore is required to get accounts audited u/s 44AB?

8. What is the true scope of recently inserted proviso to section 44AB(a) enhancing the turnover threshold of audit from Rs 1 crore to Rs 5 crore?

9. What are the defenses available to avoid the levy of penalty for non-audit?

10. Is there any way to avoid reporting and taxability of belatedly paid employees’ contribution to PF & ESI?

11. What are the reporting obligations of the tax auditor in relation to very many clauses of form 3CD when doing audit of such companies opting the concessional tax rate of 15% or 22%?

12. Is it not impossible to report under the relevant clause of Form 3CD which required information relating to transfer pricing secondary adjustments?

13. Would it not too much to expect to report ‘deemed dividend’ and what purpose would it serve?

14. Many other contentious issues?