[Date]
To
[Name of the Firm]
Sub: Management Representation in course of Tax Audit for A.Y. 2024-25
Dear Sir,
This representation is provided in connection with the purpose of conducting
the Tax Audit of “[Name of the Client]”, for the year ended 31st March, 2024.
We acknowledge our responsibility for downloading the utility from the
designated website, filling the particulars in Form No.3CD in accordance with
the books of account and other records of the Company, and electronically
forwarding the same, in line with the requirements of the Information
Technology Act, 2000 as amended from time to time, to you for verification.
We also acknowledge our responsibility for providing you with the scanned
copies of the original Tax Accounts, including those which are required to be
uploaded on the designated website, namely,
https://www.incometax.gov.in/iec/foportal. On completion of the upload on the
designated website by you, we will provide you with a complete copy of the
aforesaid documents as filed on the designated website.
We confirm, the following representations made to you, to the best of our
knowledge and belief:
The address that we have reported in Clause 2 of the form 3CD is same as we
have informed to the income tax department, there is no change in the same.
That the registration or identification number, if any, under indirect tax laws
including excise duty, goods & service tax, sales tax, customs duty, etc. as
informed to you and reported in Clause 4 of Form 3CD are correct and there is
no other number other than what is reported in said clause.
We certify, there has been no change in the nature of business during the year
under report as stated in clause 10 (a) of form 3 CD.
That the List of books of account as prescribed u/s 44AA have been maintained
and the address at which the books of accounts are kept as reported in Clause
11 has been informed by us and there are no other books and no other location
at which books are kept.
We confirm that the profit and loss account does not include any profits and
gains assessable on presumptive basis under relevant sections 44AD, 44AE,
44AF, 44B, 44BB, 44BBA, 44BBB or any other relevant section as stated in
clause 12 of form 3 CD.
The company has followed the mercantile system of accounting & there is no
change in the method of accounting employed in the immediately preceding
previous year, for the preparation of final accounts for the financial year 2021-
2022 as stated in clause 13 of form 3 CD.
We certify that the valuation of closing stock is on the same basis & there is no
deviation from the method of valuation prescribed under section 145A as stated
in clause 14 of form 3 CD.
We certify that there are no capital assets which are converted into stock in
trade as stated in clause 15 of form 3 CD.
We certify there is no capital receipt which is credited to Profit & Loss Account
as stated in clause 16 of form 3 CD.
We certify that the items falling within the scope of section 28 have been
correctly stated in clause 16.
That there is no land or building or both which 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, other
than what is informed by us and has been reported in Clause 17 of Form 3CD.
We follow a policy of capitalizing an asset only after the asset has been
purchased and has been put to use. The date on which the asset is put to use is
as certified by us in Clause 18 of Form 3CD.
We certify that 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 are
correct.
We certify that there is no sum paid to an employee as bonus or commission for
service rendered, where such sum was otherwise payable to him as profit or
dividend as stated in clause 20 of form 3 CD.
The employee’s and employer’s share contributed towards provident fund,
pension fund and ESI, date of deposit and amount of deposit is correctly stated
in clauses 20 (b) of Form 3CD.
No Capital Expenses have been debited to any Revenue Accounts as stated in
clause 21 (a) of form 3 CD.
All the expenses incurred on during the Year by us are for the purpose of
business only.
No personal expenses, except those under contractual obligations or by
generally accepted business practice, have been charged to the profit & loss
account.
We certify that there is no expenditure on advertisement in any souvenir,
broucher, tact, pamphlet etc. published by a political party. Further we confirm
that we have not made any expenditure at clubs.
There have been no amounts in the nature of penalties or fines levied on us
other than what has been disclosed in Clause 21 (a).
We have not made any payments otherwise than Account payee cheque, above
Rs. 10,000/- (Rs.35,000 in case of Transporters) covered u/s 40A(3) or Section
40A(3A) during the year except those which have been disclosed in Clause
21(d).
No sums have been paid by the company as an employer which is not allowable
U/s 40A (7) of the Income Tax Act, 1961 as stated in Clause 21(e).
We have not incurred any liability of a contingent nature as stated in Clause
21(g).
No amount of interest inadmissible under section 23 of the Micro, Small and
Medium Enterprises Development Act, 2006 other than stated in Clause 22.
There have been no delays in the payments made to the vendors as required
under the MSMED Act, 2006 and section 43B(h) of the Income Tax Act, 1960.
All transactions with any related party within the meaning of section 40(A)(2)(b)
of the Act, have been disclosed in Clause 23.
No amounts deemed to be profits and gains under section 32AC or 32AD or
33AB or 33ABA or 33AC other than stated in Clause 24.
There is no amount of profit chargeable to tax u/s. 41 as disclosed under clause
25 of Form 3CD.
All the statutory dues have been deposited on time as disclosed under clause
26.
That during the previous year we have not 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) under clause 28 of Form 3CD.
That during the previous year we have not received any consideration for issue
of shares which exceeds the fair market value of the shares as referred to in
section 56(2)(viib) under clause 29 of Form 3CD.
That we have not accepted or repaid any amount borrowed on hundi or any
amount due thereon in contravention to Section 269SS and 269T of the Act
(including interest on the amount borrowed), otherwise than through an
account payee cheque, bank draft, Online payments as stated in clause 30 & 31
of Form 3CD.
That we have not incurred any loss referred to in section 73A of the Act in
respect of any specified business during the previous year as stated in clause
32 of Form 3CD.
That the company is not deemed to be carrying on a speculation business as
referred in explanation to section 73 as stated in clause 32 of Form 3CD.
There are no deductions under Chapter VI A other than those stated in Clause
33.
The taxes deducted at source by us under the provisions of the Income-tax Act
during the year have been paid to the Central Government except those which
have been disclosed in Clause 34(a).
The statement of tax deducted or collected contains information about all
transactions which are required to be reported under Clause 34(b) of the Form
3CD.
Interest payable u/s 201(1A) and 206C(7) of the Act have been paid which have
been disclosed in Clause 34(c).
We certify that stock quantities furnished in Clause 35 of Form 3CD has been
valued & certified by us.
Cost Audit was carried out during the relevant Assessment year as reported in
the clause 37.
No audit under Central Excise Act was carried out during the relevant
Assessment year as reported in the clause 38.
No audit was conducted under section 72A of the Finance Act, 1994 in relation
to valuation of taxable services during the relevant Assessment year as
reported in clause 39.
The basis of calculation of ratios as specified in clause 40 of Form 3CD is
correct.
The demands as raised during the previous year has been shared with your
good team and no other demands/ refunds have been raised during the
Previous Year.
We also certify information furnished in Clause 1 to 44 & Annexures to Form
3CD are true and correct.
( )
(Director)
DIN:
