3CA 3CD FOR BANK AUDIT

FORM NO. 3CA

[See Rule 6G (1)(a)]

 

Audit Report under Section 44AB of the Income Tax Act, 1961 in a case where the accounts of the business or profession of a person have been audited under any other law.

We report that the statutory audit of M/s BARODA UP GRAMIN BANK  ,     Branch was conducted by us M/s in pursuance of the provisions of Banking Companies (Acquisition and Transfer of Undertakings) Act 1970, and We annex hereto a copy of our audit report dated …………………… along with a copy each of

(a)        the audited profit & loss Account for the year beginning from April 01, 2014 to ending on March 31 2015;

(b)        the audited balance sheet as at March 31, 2015; and

(c)        documents declared by the relevant Act to be part of, or annexed to, the profit and loss account and balance sheet.

  1. The statement of particulars required to be furnished under Section 44AB is annexed herewith in Form No. 3CD.
  1. In our opinion and to the best of our information and according to the examination of books of account including other relevant documents and explanations given to us, the particulars given in the said Form No. 3CD are true and correct subject to the following observations/qualifications if any;
  1. Nil

FOR …………………………………………………

 Chartered Accountants

                Partner

Place:

FORM 3CD

 [See Rule 6G (2) (a)]

 

Statement of particulars required to be furnished under

Section 44AB of the Income Tax Act, 1961

PART A

1. Name of the assesse
2. Address
3. Permanent Account Number
4 Whether the assesse is liable to pay indirect tax like excise duty, service tax, sales tax, customs duty, etc. if yes, please furnish the registration number or any other identification number allotted for the same
5. Status Company
6. Previous year From April 01, 2014 to March 31, 2015.
7. Assessment Year 2014-15
8 Indicate the relevant clause of section 44AB under which the audit has been conducted. Section 44AB (A) of the Income Tax Act 1961.

 

PART B

9.(a) If firm or Association of Persons, indicate names of partners/members and their profit sharing ratios Not Applicable
(b) If there is any change in the partners or members  or in their profit sharing ratio since the last date of the preceding year, the particulars of such change Not Applicable
10(a) Nature of business or profession (if more than one business or profession is carried on during the previous year, nature of every business or profession) Banking
(b) If there is any change in the nature of business or profession, the particulars of such change No change
11(a) Whether books of account are prescribed u/S 44AA, if yes, list of books so prescribed Not Applicable
(b) Books of account maintained and address at which the books of account are kept.(in case of books of account are maintained in a computer system, mention the books of account generated by such computer system. If the books of account are not kept at one location, please furnish the addresses of locations along with the details of books of account maintained at each location) The books are maintained in CBS Software (Finacle), which generates relevant reports.

The books and other records maintained are:

1. Journal Register

2. General Ledgers

3. Vouchers.

4. Agreements

 (c) List of books of account and nature of relevant documents examined. As mentioned against 11(b) above
12. Whether the Profit & Loss Account includes any profits & gains assessable on presumptive basis, if yes, indicate the amount & the relevant Section (44AD, 44AE, 44AF, 44B, 44BB,44BBA 44BBB, Chapter XII-G, First Schedule or any other relevant section) Not Applicable
13(a) Method of accounting employed in the previous year. Mercantile.
(b) Whether there had been any change in the method of accounting employed vis-a-vis the method employed in the immediately preceding previous year. There is no change from the method of accounting employed in the immediately preceding previous year.
(c) If answer to (b) above is in the affirmative, give details of such change, and the effect thereof on the profit or loss. Not Applicable
(d) Details of deviation, if any in the method of accounting employed in the previous year from accounting standards prescribed under Section 145 and the effect thereof on the profit or loss. Not Applicable
14(a) Method of valuation of closing stock employed in the previous year Not Applicable to Branches
   (b) Details of deviation, if any, from the method of valuation prescribed under Section 145A, and the effect thereof on the profit or loss. Not Applicable
15 Give the following particulars of the capital asset converted into stock-in-trade:
(a) Description of capital asset Not Applicable
(b) Date of acquisition Not Applicable
(c) Cost of acquisition Not Applicable
(d) Amount at which the asset is converted into stock-in-trade Not Applicable
   16

(a)

(b)

(c).

(d)

(e).

Amounts not credited to the profit and loss account being –

The items falling within the scope of section 28;

the proforma credits, drawbacks, refunds of duty of customs or excise or service tax or refund of sales tax or value added tax where such credits, drawbacks or refunds are admitted as due by the authorities concerned;

escalation claims accepted during the previous year;

any other item of income

capital receipt, if any.

Normally Nil for Branches

Normally Nil for Branches

Normally Nil for Branches

Normally Nil for Branches

   17. Where any land or building or both is transferred during the previous year for a consideration less than value adopted or assessed or assessable by any authority of a State Government referred to in section 43CA or 50C, please furnish

Details of property

Consideration received/accrued

Value adopted/assessed or assessable

Not Applicable to Branches.
18.

(a)

(b)

(c).

(d)

i.

ii.

iii.

(e).

(f)

Particulars of depreciation allowable as per the Income-tax Act, 1961 in respect of each asset or block of assets, as the case may be, in the following form:-

Description of asset / block of assets.

Rate of depreciation.

Actual cost or written down value as the case may be.

Additions/deductions during the year with dates; in the case of any addition of an asset, date put to use, including adjustments on account of

Modified value added tax credit claimed and allowed under the Central Excise rules, 1944, in respect of assets acquired on or after 1st March 1994.

change in rate of exchange of currency, and subsidy or grant or reimbursement by whatever name called.

Depreciation allowable

Written down value at the end of the year.

Not Applicable to Branches. Data will be generated and compiled at Head Office for the Bank as a whole.

Branch is only required to report the details of Sales Proceeds in Annexure forming part of closing returns.

19

(a)

(b)

Amounts admissible under sections 32AC, 33AB, 33ABA, 35 (1)(i), 35(1)(ii), 35(1)(iia), 35(1)(iii), 35(1)(iv), 35 (2AA), 35 (2AB), 35ABB, 35AC, 35AD, 35CCA, 35CCB, 35CCC, 35CCD, 35D, 35DD, 35DDA, 35 E

debited to the Profit & Loss Account (showing the amount debited and deduction allowable under each section separately)

amount admissible as per the provision of the Income Tax Act 1961 and also fulfills the conditions, if any specified under the relevant provision of the Income Tax Act, 1961 or Income Tax Rules 1962 or any other guidelines, circular, etc. issued in this behalf.

Not Applicable to Branches.
20(a) Any sum paid to an employee as bonus or commission for services rendered, where such sum was otherwise payable to him as profits or dividends [Section 36 (1)(ii)] Nil
(b) Any sum received from employees towards contributions to any Provident Fund or Superannuation Fund or any other fund mentioned in Section 2(24)(x); and due date for payment and the actual date of payment to the concerned authorities U/S 36(1)(va) Not Applicable to Branches. Data will be generated and compiled at Head Office for the Bank as a whole.
 21(a)

(b)

(i)

(ii)

(iii)

(iv)

(v)

(vi)

(vii)

(viii)

(c)

(d)

A

B

(e)

(f)

(g)

(h)

(i)

Amounts debited to the Profit & Loss Account being in the nature of capital, personal, Advertisement expenditure etc.

amounts inadmissible U/S 40(a);

as payment to non-resident referred to in sub clause (i)

as payment referred to in sub clause (ia)

 

Under sub-clause (ic).

Under sub-clause (iia)

Under sub-clause (iib)

Under sub-clause (iii)

Under sub-clause (iv)

Under sub-clause (v)

Amount debited to profit and loss account being interest, salary, bonus, commission or remuneration inadmissible under section 40(b)/40(ba) and computation thereof.

Disallowance/deemed income under section 40A(3)

On the basis of examination of books of account and other relevant documents/evidence whether the expenditure covered under section 40A(3) read with rule 6DD were made by account payee cheque drawn on a bank or account payee bank draft, if not please furnish the details.

On the basis of examination of books of account and other relevant documents/evidence whether the expenditure covered under section 40A(3) read with rule 6DD were made by account payee cheque drawn on a bank or account payee bank draft, if not please furnish the details.

Provision for payment of gratuity not allowable U/S 40A(7);

any sum paid by the assessee as an employer not allowable U/S 40A(9);

particulars of any liability of a contingent nature;

amount of deduction inadmissible in terms of section 14A in respect of the expenditure incurred in relation to income which does not form part of the total income.

Amount inadmissible under the proviso to section 36(1)(iii)

As per Annexure 1

As per Annexure 2

As per Annexure 3

Not Applicable to Branches

Not Applicable to Branches

Not Applicable to Branches

Not Applicable to Branches

Not Applicable to Branches

Not Applicable to Branches

Not Applicable

As per Annexure 4

As per Annexure 4

Not Applicable to Branches

Not Applicable to Branches

Normally, it should be Nil for Branches.

Not Applicable to Branches

Not Applicable to Branches

22 Amount of Interest inadmissible under Section 23 of the Micro, Small and Medium Enterprises Development Act, 2006 NIL
23 Particulars of payments made to persons specified in Section 40A(2)(b). As per Annexure 5
24 Amounts deemed to be profits and gains U/S 32AC, 33AB or 33ABA or 33 AC. Not Applicable
25 Any amount of profit chargeable to tax U/S 41 and computation thereof. Normally it should be ‘Nil’ for Branches
26  In respect of any sum referred to in clause (a), (b), (c), (d), (e) or (f) of Section 43B, the liability for which

(A) pre-existed on the first day of the previous year but was not allowed in the assessment of any preceding previous year and was

(a)  paid during the previous year;

(b) not paid during the previous year;

(B) was incurred in the previous year and was

(a) paid on or before the due date for furnishing the Return of Income of the previous year u/S 139(1)

(b)not paid on or before the aforesaid date;

(State whether sales tax, customs duty, excise duty or any other indirect tax, levy, cess impost etc. is passed through the Profit & Loss Account).

As per Annexure 6

As per Annexure 7

27 (a)

(b)

Amount of Central Value Added Tax credit availed of or utilised during the previous year and the treatment in the P & L A/c. and treatment of outstanding Central Value Added Tax credits in the accounts.

Particulars of income or expenditure of prior period credited or debited to the P & L A/C.

As per Annexure 8

As per Annexure 9

28 Whether during the previous year the assesse has received any property, being share of a company not being a company in which the public are substantially interested, without consideration or for inadequate consideration as referred to in section 56(2)(viia), if yes, please furnish the details of the same. Not Applicable
29 Whether during the previous year the assesse has received any consideration for issue of shares which exceeds the fair market value of the shares as referred to in section 56(2)(viib), if yes, please furnish the details of the same. Not Applicable
30 Details of any amount borrowed on hundi or any amount due thereon (including interest on the amount borrowed) repaid, otherwise than through an account payee cheque. (Section 69D) Not Applicable
31(a)

(b)

(c)

** Particulars of each loan or deposit in an amount exceeding the limit specified in Section 269SS taken or accepted during the previous year.

(i) name, address and Permanent Account Number (if available with the assessee) of the lendor or depositor;

(ii) amount of loan or deposit taken or accepted;

(iii)  whether the loan or deposit was squared up during the previous year;

(iv) maximum amount outstanding in the account at any time during the previous year;

(v)  whether the loan or deposit was taken or accepted otherwise than by account payee cheque or an account payee bank draft;

** These particulars need not be given in the case of a Government company, a banking company or a corporation established by a Central, State or Provincial Act.

Particulars of each repayment of loan or deposit, in an amount exceeding the limit specified in Section 269T made during the previous year

(i) name, address and Permanent Account Number (if available with the assessee) of the payee

(ii) amount of the repayment

(iii) maximum amount outstanding in the account at any time during the previous year;

(iv)  whether the repayment was made otherwise than by account payee cheque or an account payee bank draft;

Whether the taking or accepting loan or deposit or repayment of the same were made by account payee cheque drawn on a bank or an account payee bank draft based on the examination of books of account and other relevant records.

The particulars (i) to (iv) at (b) and the certificate at (c) above need not be given in the case of a repayment of any loan or deposit taken or accepted from Government, Government company, banking company or a corporation established by a Central, State or Provincial Act

Not Applicable

The management has certified that as per the policy of the policy of bank deposits exceeding the limits specified under section 269T of the Income Tax Act 1961 are not paid in cash. Such repayments are made either by account payee cheque or draft in favor of the depositors or are credited to their account held with the concerned branch.

As per Annexure 10

32(a) Details of brought forward loss or depreciation allowance, in the following manner to the extent available: Not Applicable to Branches
Sr.

No.

Assessment

Year

Nature of loss / allowance (in rupees) Amount as returned (in rupees) Amounts as assessed give reference to relevant order) Remarks
(b) Whether a change in shareholding of the company has taken place in the previous year due to which the losses incurred prior to the previous year cannot be allowed to be carried forward in terms of section 79. Not Applicable
(c) Whether the assesse has incurred any speculation loss referred to in section 73 during the previous year. If yes, please furnish details of the same. Not Applicable to Branches
(d) Whether the assesse has incurred any loss referred to in section 73A in respect of any specified business during the previous year. If yes, please furnish details of the same. Not Applicable
(e) In case of a company, please state that whether the Company is deemed to be carrying on a speculation business as referred to in section 73, if yes, please furnish details of speculation loss if any incurred during the previous year. Not Applicable
33 Section wise details of deductions if any, admissible under Chapter VIA or chapter III (Section 10A, Section 10AA). As per Annexure 11.
34(a) Whether the assesse is required to deduct or collect tax as per the provisions of Chapter XVII-B or chapter XVII-BB, if yes, pl. furnish As per Annexure 12
(b) Whether the assesse has furnished the statement of tax deducted or collected within the prescribed time, if not, pl. furnish the details. As per Annexure 13
(c) Whether the assesse is liable to pay the interest under section 201(1A) or section 206C(7), if yes, please furnish As per Annexure 14
 35(a) In the case of a trading concern, give quantitative details of principal items of goods traded.

i.                    Opening Stock

ii.                  Purchases during the previous year

iii.                Sales during the previous year

iv.                Closing stock;

v.                  Shortage / excess, if any

Not Applicable
(b) In the cases of a manufacturing concern, give quantitative details of the principal items of raw materials, finished products and by-products:

A  Raw Materials:

i.    Opening stock

ii. Purchases during the previous year;

iii. Consumption during the previous year;

iv.   sales during the previous year;

v.  closing stock;

vi.* yield of finished products;

vii.* percentage of yield

viii.* shortage / excess, if any.

B. Finished Products / By-products:

i.  Opening stock;

ii. Purchase during the previous year;

iii. quantity manufactured during the previous year

iv. sales during the previous year

v. closing stock

vi. shortage / excess, if any.

* Information may be given to the extent available

Not Applicable
 36 In the case of a domestic company, details of tax on distributed profits u/S 115O in the following form:

(a)  total amount of distributed profits;

(b) amount of reduction as referred to in section 115-O(1A)(i).

(c) amount of reduction as referred to in section 115-O(1A)(ii)

(d) total tax paid thereon;

(e) dates of payment with amounts.

Not Applicable to Branches
37 Whether any cost audit was carried out, if yes, give the details, if any, of disqualification or disagreement on any matter/item/value/quantity as may be reported/identified by the cost auditor. Not Applicable to Branches
38 Whether any audit was conducted under the Central Excise Act, 1944, if yes, give the details, if any, of disqualification or disagreement on any matter/item/value/quantity as may be reported/identified by the auditor.
39 Whether any audit was conducted under section 72A of the Finance Act 1994 in relation to valuation of taxable services, if yes, give the details, if any, of disqualification or disagreement on any matter/item/value/quantity as may be reported/identified by the auditor.
40

1.

2.

3.

4.

5.

Details regarding Turnover, Gross Profit, etc. for the previous year and preceding previous year.

Total turnover of the assessee

Gross Profit / Turnover

Net Profit / Turnover

Stock-in-trade / Turnover

Material consumed / Finished goods produced

Not Applicable to Branches
41 Please furnish the details of demand raised or refund issued during the previous year under any tax laws other than Income Tax Act 1961 and Wealth Tax Act, 1957 along with the details of relevant proceedings. As per Annexure 15

FOR ……………………………………………

 Chartered Accountants

                Partner

.

Place: .

Branch Manager/Zonal/CENTRE Manager

Place:

Date:.

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