9911796707
TMI BlogREVISION OF INSTRUCTION NO. 3/2007 ON THE NEW INTERNAL AUDIT SYSTEMX X X X Extracts X X X X X X X X Extracts X X X X ..... elow: 2.1 Role of CCIT (CCA): The CCIT (CCA) shall also - (i) Review the performance of Internal Audit Wing on a monthly basis to monitor the conformity to the Action Plan drawn for audit in terms of para III (ii) of Instruction. Such Action Plan must be drawn by April 15 of each year. (ii) Assess the progress in settlement of audit objections in terms of targets prescribed through Central Action Plan and submit report in the Pro forma at Annexure-I to the DIT (Audit) by the 10th of the succeeding month with a copy to CIT (A J). (iii) Obtain the particulars of such cases from the CIT (Audit) by April 30th of the year, where Major revenue audit objections were accepted in the preceding year but the Internal Audit had failed to point out the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... trative Commissioners to review the progress in settlement of objections (ii) Furnish statement in Annexure-I as per his records to each jurisdictional CCIT/DGIT by the 3rd of the succeeding month. (iii) Vet each objection involving tax effect of Rs.10 crore and more, proposed to be raised by Addl.CIT/Jt.CIT (Audit)/DCIT/ACIT (SAP)/ITO (IAP) before the objection is raised (iv) Submit a half-yearly report to the CCIT (CCA) in respect of repeated/common errors noticed in the audit in preceding two quarters. The report shall be submitted by the 15th October 15th of April with a copy to every CCIT/ DGIT. (v) Submit a CIT charge-wise list of cases of accepted revenue audit objections compiled from the LAR to the CCIT (CCA), where the internal au ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3 of 2007 is amended and supplemented with effect from October 28, 2013 to the extent indicated above. 6. This may be brought to notice of all officers working under your jurisdiction for compliance. [F.NO. 246/94/2013-A PAC.1] Annexure-I CIT (CCA)/CCIT/DGIT CHARGE ____________ MONTHLY REVENUE AUDIT OBJECTIONS PENDING REPORT FOR ________, 20_ _ PART - I- MAJOR AUDIT OBJECTIONS Objections -up to the end of the month preceding the month of report (a) No. of Objections pending as on 1.4.20 . (b) Received up to the end of the proceeding month (c) Settled up to the end of the proceeding month (d) Replies sent but not settled up to the end of the proceeding month (e) Balance (a+b+c) up to the end of the proceeding month (f) Revenue effect for obj ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
