UNIVERSITY OF MUMBAI

(2019-2020)

A PROJECT REPORT ON

Tax audit

SUBMITTED BY:
ASIYA KHAN
ROLL NO. 5512

MASTER OF COMMERCE
(ADVANCE ACCOUNTANCY)
SEMESTER III

(2019-2020)

PROJECT GUIDE
MR. RAJU D. GOLE

Sadhana Education
Society’s
L.S RAHEJA COLLEGE OF ARTS AND COMMERCE
Juhu Road , Santacruz (West),
Mumbai – 400 054
 Certificate

This is certify that Ms. Asiya Khan has worked and duly completed her Project Work
for the degree of Master of Commerce under the Faculty of Commerce in the subject of
Advance Accountancy and her project is entitled , Tax Audit
under my supervision.

I further certify that the entire work has been done by the learner under my
guidance and that no part of it has been submitted previously for any Degree or Diploma
of any University. It is her own work and facts reported by her personal findings and
investigations

Mr. RAJU D. GOLE Name of project Guide

(Internal Guide) (External examiner) Mr. RAJU D. GOLE Dr. DEBAJIT N. SARKAR
(Course Coordinator) (Principal)

Date of Submission:

College Seal
 Declaration

I the undersigned Ms. Aiman Khan hereby declare that the work embodied in this
project work titled scope of cost and limitations of cost forms my own contribution to
the research work carried out under the guidance of Mr. Raju D. Gole is a result of
my own research work and has not been previously submitted to any other
University for any other Degree/ Diploma

Wherever reference has been made to previous works of others, it has been clearly
indicated as such and included in the bibliography.

I, hereby further declare that all information of this document has been obtained and
presented in accordance with academic rules and ethical conduct.

Asiya Khan

Roll No. - 5512

Certified by:

Mr. Raju D. Gole

 Acknowledgement

To list who all have helped me is difficult because they are so numerous and the depth
is so enormous.

I would like to acknowledge the following as being idealistic channels and fresh
dimensions in the completion of this project.

I take this opportunity to thank the University of Mumbai for giving me chance to do
this project.

I would like to thank my Principal, Dr. Debajit Sarkar for providing the necessary
facilities required for completion of this project.

I take this opportunity to thank my Coordinator, Mr. Raju D. Gole for her moral
support and guidance.

I would also like to express my sincere gratitude towards my project guide

Mr. Raju D. Gole whose guidance and care made the project successful.

I would like to thank my College Library, for having provided various reference books
and magazines related to my project.

Lastly, I would like to thank each and every person who directly or indirectly helped
me in the completion of the project especially my Parents and Peers who supported me
throughout my project.
EXECUTIVE SUMMARY
 INDEX
Sr. No. Particulars Page No
Chapter 1
1.1 Overview
1.2 Introduction
1.3 History
Chapter 2
2.1 Meaning of Tax
2.2 Types of Tax
2.3 Income Tax Act 1961
2.4 Tax Process
Chapter 3
3.1 Meaning of Audit
3.2 Types of Audit
3.3 Audit Standards
Chapter 4
4.1 Meaning of Tax Audit
4.2 Applicability of Tax Audit
4.3 Rules & regulations of Tax Audit
4.4 Clauses
Chapter 5
5.1 Tax Audit & E-Filing (2019)
5.2 Tax Audit Procedures & Audit Report
5.3 Different types of audit procedures
5.4 Types of tax audit report
Chapter 6
6.1 Forms for tax audit u/s 44AB
6.2 Tax audit checklist
6.3 Penalties for Non Compliance
6.4 Imparatives of tax audit