Certificates Pertaining to Tax Audit: Legal Drafts

A tax audit is a crucial examination of accounts for income tax purposes, ensuring compliance and accuracy in financial reporting. Under the Income Tax Act, 1961, businesses and professionals are required to undergo tax audits if their turnover exceeds certain thresholds (Rs.1 crore for businesses and Rs.50 lakhs for professionals). In this context, the following are key certificates that may be required during the tax audit process.

Certificate under Section 40A(3) of The Income Tax Act, 1961

(To be printed on the Letterhead of the Auditee)

To
(Name of the Auditor)
Chartered Accountants
(Address)

Subject: Tax Audit of Accounts for the Year Ended on 31st March, 2024

Dear Ma’am/Sir,

We hereby certify that all payments for expenditures covered under Section 40A(3) of the Income Tax Act, 1961, made during the financial year, were executed via account payee cheques or account payee bank drafts, drawn on a bank. No payments were made in cash or through bearer cheques.

For M/s ______________
(Signature of Partner/ Proprietor/ Director/ Member)

Certificate under Section 269SS and 269T of The Income Tax Act, 1961

(To be printed on the Letterhead of the Auditee)

To
(Name of the Auditor)
Chartered Accountants
(Address)

Subject: Certificate for Section 269SS and 269T in relation to the Audit under Section 44AB of the Income Tax Act, 1961 for the Year Ended 31st March, 2024

Dear Ma’am/Sir,

We hereby certify that all loans and deposits accepted or repaid during the assessment year, where the amounts exceed the thresholds specified in Section 269SS and 269T of the Income Tax Act, 1961, were done through an account payee cheque or an account payee bank draft. No loans or deposits were accepted or repaid in cash or through bearer cheques, ensuring compliance with Sections 269SS and 269T.

For M/s ______________
(Signature of Partner/ Proprietor/ Director/ Member)

Digital Signature Authorization Certificate

(To be printed on the Letterhead of the Auditee)

To
(Name of the Auditor)
Chartered Accountants
(Address)

Subject: Authorization of Digital Signature for Income Tax Matters for Financial Year 2023-24

Dear Ma’am/Sir,

I, (Name of Concerned Person), D/o / S/o (Parent’s Name), residing at (Address) and holding PAN (PAN Number), in the capacity of Partner/Proprietor/Director/Member of M/s ______________, hereby authorize (Name of Chartered Accountant), M.No (Membership Number) to use my Digital Signature Certificate (DSC) for all matters related to Income Tax for the Financial Year 2023-24.

For M/s ______________
(Signature of Partner/ Proprietor/ Director/ Member)

Certificate of Receipt of Books of Accounts and Other Documents After Audit

(To be printed on the Letterhead of the Auditee)

To
(Name of the Auditor)

Chartered Accountants
(Address)

Subject: Receipt of All Documents and Books of Accounts for the Financial Year 2023-24

Dear Sir,

I, (Name of Concerned Person), D/o / S/o (Parent’s Name), residing at (Address) and holding PAN (PAN Number), in the capacity of Partner/Proprietor/Director/Member of M/s ______________, hereby acknowledge receipt of all books of accounts, including the Bank Book, Purchase Register, Sales Register, and all other computerized records, from the auditor, upon the completion of the audit for the Financial Year 2023-24.

I confirm that these documents are now in my possession for future reference.

For M/s ______________
(Signature of Partner/ Proprietor/ Director/ Member)

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