Income TAX Audit Application

Few Important Features of hbAudit Application

• CA/Auditor Master Management
• Form Status Pop always on top will help to know the status for Audit report
• Easily client switch without using customer portal
• Dynamic Notification with User internal notification circulation control
• 3CA & 3CD, User friendly UI with Save as draft feature
• PDF page download option
• Audit Report download option in various format (XLSX, PDF, Work XML), In feature JSON will also available.
• Various type of import options
• Dashboard
• Work Bench for important tasks
• Import Options from Various format with multi years
• Dynamic Theme Configurations
• Data save in any case with or without validation (Save as Draft)
• User friendly & Dynamic UI
• Data Freeze Option for Audited Ay.
• Data/File lock System for Audit purpose
• DSC Attachments

Note: This release is only for 3CA & 3CD (Individual/Proprietor ship etc only) 3CB & Business purpose will release soon.

Features

Login Page

Login URL: https://sso.hostbooks.com/user/login

Clients’ portal to select client and Application

Home Page

Dashboard

Take a Tour

Menu Bar

Client Information On home page.

Auditor Information in home page.

Auditor Edit Option from Home page

Notification Bar

AY (ASSESSMENT YEAR) Selection Option for Audit form.

List of audit clients for switch.

Work Bench

Theme colors Change options.

Help/Support and Ticket Tracking

Forms Status

Clauses Status Any time. Anywhere available with Error Status & List

Master Modules

Menu Hide & Show Option Incases of 3CD Multiple Menu Appears

Client Master

CA/ Auditor Master List View

Edit And Add new Option

This is 3CA. In this module, Personal Information are auto filled by Client Master Details and Audit Information are auto filled by CA Masters.

1. In Profit/Loss, given multiple drop box – Audit Conducted By, Audit Under Act., Date of Audit Report, Type of Account, Period from, Period to, Balance Sheet as At and Annexed to, the. These drop boxes are mandatory to fill.
2. Qualifications/Modifications are mandatory to be filled.
3. In the end user filled all the Details or Data in 3CA and 3CD and press the “Save” button for data saved successfully.

3CD in this module, many types of “Clauses” From “1 to 44”, each and all clauses are given bottom right-side options for “Cancel, Save as Draft, Save and Save & Next”.

User fill the details in particular clauses the press the “Save” button for saved the data or details.

Clauses Views

Save AS draft Option available for User Help to save temporally without validation

Generate XML option available at the last of data submission (Clause-44)

XML Generate Multiple options

Import for data & Masters.

Report Download with Multiple format

Audit report PDF View & Download Option

Tax Audit

What is a Tax Audit?

Tax audit is a cross-examination of the books of accounts of the taxpayer by a Chartered Accountant (holding full-time Certificate of Practice) under the Income Tax Act 1961.The main purpose of a tax audit is to verify the accuracy of the financial records and avoid any fraud or tax evasion.

What is a Tax Audit report?

The person conducting a tax audit has to provide the findings in a report using specified ‘Audit Forms’ prescribed by the income tax department. Section 44AB prescribes Forms 3CA and 3CB. Along with these two forms, the auditor has to furnish a form 3CD.

Prescribed Audit Forms

The audit report has to be furnished in either of the following forms:

1. Form 3CA
2. Form 3CB

Form 3CA

In respect of a taxpayer carrying on a business or profession and who is already mandated to get his accounts audited under any other law.

For instance, Company is required to get its accounts audited compulsorily under the Companies Act 2013. So, it will furnish Form 3CA.

Particulars

Form 3CD is a 44 Clauses detailed statement of particulars. All the details related to various aspects of the business and transactions have to be filled at appropriate places

• Date of Balance Sheet.
• Period of Profit & Loss Account/ Income & Expenditure Account
• Name and address of the taxpayer along with Permanent Account Number.
• Address, where the books of accounts are kept
• Audit Observations/ Qualifications/ Comments/ Discrepancies.
• Obtaining all the information and explanations necessary for the audit.
• Assurance that the organization maintains proper books of accounts.
• Balance sheet and Profit & Loss Account gives a true and fair view.
• Declaration of attaching Form 3CD along with the audit report.
• Audit observations/ discrepancies found in the details related to Form 3CD.
• Name, Address, and Membership Number of the auditor.

We’re always excited to hear from you! If you have any feedback, questions or concerns, please email us at: qa@hostbooks.com.