Tax Auditor is required to furnish in Form 3CD, break-up of total expenditure of entities registered or not registered under the GST. Such breakup includes:
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Question 2 of 30
2. Question
1 points
Category: Advanced Auditing & Professional Ethics
Tax auditor is required tro report in Form 3CD, whether the assessee or its parent entity or alternate reporting entity is liable to furnish the report as referred to in sub-section (2) of section 286. If yes, tax auditor is required to furnish:
(i) Where report has been furnished by the assessee or its parent entity or an alternate reporting entity
(ii) Name of parent entity
(iii) Name of alternate reporting entity (if applicable)
(iv) Date of furnishing or report.
Select the appropriate one
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Question 3 of 30
3. Question
1 points
Category: Advanced Auditing & Professional Ethics
Break-up of total expenditure of entities registered or not registered under the GST is required to the report:
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Question 4 of 30
4. Question
1 points
Category: Advanced Auditing & Professional Ethics
Normally, the report of the tax auditor cannot be revised later. However, in certain situations tax auditor need to revise the tax audit report. Identify that situation:
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Question 5 of 30
5. Question
1 points
Category: Advanced Auditing & Professional Ethics
Which clause of Form 3CD requires the tax auditor to furnish certain information in a case 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.
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Question 6 of 30
6. Question
1 points
Category: Advanced Auditing & Professional Ethics
Particulars of payments made to persons specified under section 40A(2)(b) requires reporting under:
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Question 7 of 30
7. Question
1 points
Category: Advanced Auditing & Professional Ethics
As an auditor appointed u/s 44AB of the Income Tax Act, 1961, how would you verify and report on the following: The assessee has borrowed 50 lakhs from various persons partly in cash and partly by account payee cheque.
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Question 8 of 30
8. Question
1 points
Category: Advanced Auditing & Professional Ethics
Clause 32(d) of Form 3CD requires the tax auditor to report:
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Question 9 of 30
9. Question
1 points
Category: Advanced Auditing & Professional Ethics
Clause 37 of Form 3CD requires the tax auditor to report:
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Question 10 of 30
10. Question
1 points
Category: Advanced Auditing & Professional Ethics
Clause 31(b) of Form 3CD requires the auditor to furnish the particulars of each specified sum in an amount exceeding the limit specified in Sec. 269SS taken or accepted during the previous year. The limit specified u/s 269SS is:
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Question 11 of 30
11. Question
1 points
Category: Advanced Auditing & Professional Ethics
Mr. Sharma carries on the business of dealing and export of diamonds. For the year ended 31st March 2019, you as the tax auditor find that the entire exports are to another firm in U.S.A. which is owned by Mr. Sharma’s brother.
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Question 12 of 30
12. Question
1 points
Category: Advanced Auditing & Professional Ethics
You are the Tax auditor of BL & Co., a partnership firm engaged in the business of playing of Goods Carriages for the financial year 2018-19 having a turnover of Rs. 20 crores. How would you deal and report on payment of 30.000 in cash to Mr. R on 10th September, 2018 towards settlement of invoice for expenses accounted in financial year 2017-18.
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Question 13 of 30
13. Question
1 points
Category: Advanced Auditing & Professional Ethics
Clause 21(a) of Form 3CD requires the tax auditor to furnish the details of amounts debited to the profit and loss account, being in the nature of capital, personal, advertisement expenditure etc. Which of the following amounts does not require reporting under Clause 21(a)
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Question 14 of 30
14. Question
1 points
Category: Advanced Auditing & Professional Ethics
Where any land or building or both is transferred during the previous year for a consideration less than value adopted or assessed or assessable or assessable by any authority of a State Government referred to in section 43CA or 50C, the tax auditor is required to furnish in Form 3CD:
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Incorrect
Question 15 of 30
15. Question
1 points
Category: Advanced Auditing & Professional Ethics
How many types of audit are prescribed under GST Regime:
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Question 16 of 30
16. Question
1 points
Category: Advanced Auditing & Professional Ethics
As per Sec. 35(5) of SGST Act, 2017, every registered person whose turnover during a financial year exceeds the prescribed limit shall get his accounts audited by a___________.
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Incorrect
Question 17 of 30
17. Question
1 points
Category: Advanced Auditing & Professional Ethics
As per Sec. 35(5) of CGST Act, 2017, every registered person whose turnover during a financial year exceeds the prescribed limit shall get his accounts audited. The limit prescribed for this purpose is:
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Incorrect
Question 18 of 30
18. Question
1 points
Category: Advanced Auditing & Professional Ethics
As per Sec. 35(5) of SGST Act, 2017, every registered person whose turnover during a financial year exceeds the prescribed limit shall get his accounts audited and shall submit__________.
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Incorrect
Question 19 of 30
19. Question
1 points
Category: Advanced Auditing & Professional Ethics
As per Rule 80(3) of CGST Rules, 2017, every registered person whose aggregate turnover during a financial year exceeds the prescribed limit. shall get his accounts audited and he shall furnish a copy of audited annual accounts and a reconciliation statement, duly certified in____________.
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Incorrect
Question 20 of 30
20. Question
1 points
Category: Advanced Auditing & Professional Ethics
Every registered person who is required to get his accounts audited in accordance with the provisions of Sec. 35(5) of CGST Act, 2017, shall furnish, the annual return. The annual return is to be furnished:
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Question 21 of 30
21. Question
1 points
Category: Advanced Auditing & Professional Ethics
Every registered person who is required to get his accounts audited in accordance with the provisions of Sec. 25(5) of SGST Act, 2017, shall furnish, the annual return along with:
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Incorrect
Question 22 of 30
22. Question
1 points
Category: Advanced Auditing & Professional Ethics
Reconciliation statement furnished u/s 44(2) of CGST Act, 2017 reconciles the
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Incorrect
Question 23 of 30
23. Question
1 points
Category: Advanced Auditing & Professional Ethics
As per Sec. 65 of CGST Act, 2017, the Commissioner or any officer authorized by him, by way of a general or a specific order, may undertake audit of any resisted person for such period, as such frequency and in such manner as may be prescribed. For this purpose, audit is to be conducted at the
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Incorrect
Question 24 of 30
24. Question
1 points
Category: Advanced Auditing & Professional Ethics
As per Sec. 65 of CGST Act, 2017, the Commissioner or any officer authorized by him, by way of a general or a specific order, may undertake audit of any registered person for such period, at such frequency and in such manner as many be prescribed. The registered person shall be informed by way of a notice not less than:
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Question 25 of 30
25. Question
1 points
Category: Advanced Auditing & Professional Ethics
As per sec. 65 of CGST Act, 2017, the Commissioner or any officer authorized by him, by way of a general or a specific order, may undertake audit of any registered person for such period, at such frequency and on such manner as may be prescribed. Audit shall be completed within a period of
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Incorrect
Question 26 of 30
26. Question
1 points
Category: Advanced Auditing & Professional Ethics
As per Sec. 65 of CGST Act, 2017, the Commissioner or any officer authorized by him, by way of a general or a specific order, may undertake audit of any registered person for such period, at such frequency and in such manner as may be prescribed. On conclusion of audit, the proper officer shall, within______. inform the registered person, whose records are audited, about the findings, his rights and obligations and the reasons for such findings.
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Incorrect
Question 27 of 30
27. Question
1 points
Category: Advanced Auditing & Professional Ethics
Special Audit under the GST regime is covered under:
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Question 28 of 30
28. Question
1 points
Category: Advanced Auditing & Professional Ethics
A member of the Institute in practice, shall be deemed to be guilty of professional misconduct if he accepts in a financial year more than —— tax audit assignments or such other limit as may be prescribed by ICAI from time to time under section 44AB.
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Question 29 of 30
29. Question
1 points
Category: Advanced Auditing & Professional Ethics
A HUF has turnover of Rs.3 Crores and follows cash system of accounting. Choose appropriate alternative.
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Question 30 of 30
30. Question
1 points
Category: Advanced Auditing & Professional Ethics
In the case of a person who carries on business or profession but who is not required by or under any other law to get his accounts audited, the audit report has to be given in Form No.———-
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