Lecture 66: What is tax audit report, Form 3CA, 3CB and 3CD? What to check in audit report as banker

[@ca.rahulkumarrathod9587]

Dear sir, you have well explained what clauses of form 3CD are relevant for bankers. Form 3CA & 3CB are the tax audit report. Form 3CA is to be issued in the case of the corporate assessee whereas Form 3CB is to be issued in the case of the Non-corporate assessee. Thank you 🙏 for sharing your knowledge & expertise without charging a single penny.

[@AnkushJain]

Your welcome Rahul

[@arvindsharma6752]

The way of explaining is superb 👌..

[@AnkushJain]

Thank you Arvind

[@godheadkrishnaslove7414]

Thankyou sir☺️ Today Whole Sunday I'm watching your video...and adding value in my life ☺️🙏

[@AnkushJain]

That's amazing. Make sure you take appropriate pauses so that overlapping doesn't happens 👍

[@godheadkrishnaslove7414]

@@AnkushJain sure sir☺️

[@AnkushJain]

👍

[@sumeetthakur7786]

Thanks a lot for sharing this valuable knowledge........ ❤❤❤❤❤❤❤❤❤❤❤.. GOD BLESS YOU

[@AnkushJain]

Thank you

[@gayantiwary1769]

Very knowledgeable video sir thank u

[@AnkushJain]

Thank you

[@Creepyshortz1]

Great video - It would help me as i am a new BCM 🔥

[@AnkushJain]

👍

[@yuvrajshisode2729]

Sir thank you, the quality of content is amazing. I have also undertaken CA Rajas courses.. However his lecture on audit is no way close to yours.. I find your lectures way to practical in daily life.. Awaiting your next lecture. Blessed to have teacher like you.

[@AnkushJain]

Thank you Yuvraj for complements

[@manishact]

Great work Aukush Ji.

[@AnkushJain]

Thank you 👍

[@TheSuresh2022]

Thanks sir, waiting for this lacture since long..👍🙂

[@AnkushJain]

👍

[@पवनगेदर-च4द]

Namskar sirji......again video toofani h sirji

[@AnkushJain]

Thank you Pawan

[@Sharedare]

Really great teacher...👍❤️

[@AnkushJain]

Thank you

[@anirban28]

lets explain a topic reagarding foir ratio

[@AnkushJain]

Ok

[@gauravmudgal7281]

Hi Sir I'm having question regarding the audit report. Which component should i added from the audit report while calculating the eligibility of case

[@AnkushJain]

Just focus on payments to specified persons point and see the expenses paid to self or close family members.. we may add them back to calculate eligibility

[@VIKASHKUMAR-ch4fn]

Great 👍🏻

[@AnkushJain]

Thank you

[@anurag1271]

Thanks dear Ankush Sir.. Your all video are really truly commendable... I hatts off to your video and your explanation pattern... Regards.....Anurag Singhal..

[@AnkushJain]

Thank you

[@Commerceconcept666]

Sir credit manager ke interview k liya videos Bna do ager possible ho to

[@AnkushJain]

@@Commerceconcept666 interview questions ka video already bnaya hua hai

[@Commerceconcept666]

@@AnkushJainkon se m h sir playlist sir

[@MDVaashir]

Make a video on the Excel KIT prepared by Credit Analysts that is sent to credit managers.

[@AnkushJain]

Ok

[@monukumar07]

Make a video on probe report and perfios..

[@AnkushJain]

👍

[@RRR9999-RRR]

Corpository also

[@surbhimaheshwari3045]

Pls make video on analysis interpretation on tax audit report

[@AnkushJain]

Ok surbhi

[@MONUKUMAR-xu7xg]

Hiii Ankush, As You know at present Tax Audit is not applicable for upto 10 Crore Turnover in case Max 5% transaction is through cash and rest 95% is through Banking channel. Please clarify do we need to take CA Certificate mandatorily to certify non-applicability of Tax Audit Report as in some cases, Borrower gave the CA certificate but in some cases we are not able to get the CA certificate, How to proceed further.

[@AnkushJain]

We are taking CA certificate only for such cases

[@MONUKUMAR-xu7xg]

@@AnkushJain What if we don't get CA certificate due to any reason, whats the solution available

[@MONUKUMAR-xu7xg]

Pls reply

[@AnkushJain]

Nothing else comes to my mind except for borrower undertaking. Although ca certificate should be taken.

[@MONUKUMAR-xu7xg]

@@AnkushJain Okay I will put pre-disbursement Condition for CA certificate in this case provided business team agrees to the same

[@DEVOTIONALSLOKAS0414]

Hi Ankush Tax audit report is applicable for any turnover cap

[@AnkushJain]

No there are separate provisions for this under section 44ab

[@DEVOTIONALSLOKAS0414]

@@AnkushJain Tax audit applicable for companies TO more then Rs. 1 crore

[@viveksen9447]

Very nice video, please create video how to pd with customer?

[@AnkushJain]

Thank you Vivek. PD point will be covered in last since first I want to clear all the underwriting concepts to people. I am making video in a defined sequence

[@viveksen9447]

Ok sir

[@dschauhan52]

Sir jaise Gst verify kar tey hai bina useid & Password liye, waise Itr filling bhi verify kar saktey hai kya .. customer aapna password share nhn karna chahta

[@AnkushJain]

No we can not. There is a separate team in every bank to do so.

[@rupalimalviya8391]

Bina id paswd k gst kaise verify karte ho bhai ? Id paswd leke hi to karte hoge na ? Correct me.

[@عَامِررضا-ص8ن]

Sir,Is it mandatory to mention udin and sign of CA on CB form and cd form both

[@AnkushJain]

Yes it is mandatory

[@nareshz999]

which firms comes under audit? is it depends on sales? Any guidelines

[@AnkushJain]

It is dependent on sales and profitability. Section 44 of income tax act contains the provisions

[@nareshz999]

@@AnkushJain sir make plz a short video...I am not able to understand this section 44.

[@nareshz999]

mainly sole proprietorship, partnership and llp firms

[@AnkushJain]

Ok

[@AnkushJain]

Ok

[@Creepyshortz1]

I would definitely promote your videos on my channel

[@AnkushJain]

Thank you

[@swapnilg3545]

Adverse Remarks of auditor also needed to check

[@AnkushJain]

Yeah it is called qualified opinion

[@virojamk]

Sir please share link of video how to analyse audit report for calculating the loan amount applicable to firm

[@AnkushJain]

Could not get your point. How audit report will help for calculating loan amount?

[@nsd1001]

Hi sir at 20:44 you said if stock is overstated, then profits are overstated.. but won't the profit be understated if cost of stock is higher?

[@AnkushJain]

I am talking about closing stock here. Higher the closing stock the more will be gross profit and resultant net profit

[@nsd1001]

@@AnkushJain thanks for ur reply sir..so u mean client will keep opening stock at cost and closing at market value so that cogs will be lower?

[@AnkushJain]

No, not like this. Usually in latest financials. So that bank can see higher profits in latest results

[@nsd1001]

@@AnkushJain got it sir thank you so much

[@AnkushJain]

👍

[@PATRICX2000]

Yeh form Kisko Bharna Padega sir Ca Ko ya Jo income tax Bharega usko

[@AnkushJain]

CA ko

[@عَامِررضا-ص8ن]

Sir please provide video on 3CA form as well 🙏

[@AnkushJain]

Ok I will explain in first 5 minutes in next video

[@yogendradevrajsingh8149]

Could you make a video anyalsying loan assessment on Industry wise.

[@AnkushJain]

Hi yogendra, can u elaborate in detail on exactly what details are u seeking

[@yogendradevrajsingh8149]

@@AnkushJain Sir Like , How we analysing the Jwellers , Food grain industry, Contractor profile .

[@AnkushJain]

Ok understood. Have noted your point.

[@heenalketanshah7076]

Sir please use a mic

[@AnkushJain]

Yeah i am using it in all my latest videos now

[@MrDM-xs3xu]

Yrr ye CA log ke dimaag me itna data kaise store ho pata hai 😅

[@AnkushJain]

Hahahha 🙏🙏