1. Clause 9 (b) and (c)*- Books of Accounts Maintained and Examined – Generally printed list.
2. Clause 14*- Particulars of Depreciation allowable –Details of Purchase, Sale, Transfer and Disposal/ Write-off of Fixed Assets to be verified by Branch Auditor.- Depreciation calculation – generally at HO.
3. Clause 17(a)*– Any amount of Capital Expenditure debited to Profit and Loss A/c.
4. Clause 17(e)*– Expenditure by way of Penalty or Fine for violation of any law debited to Profit and Loss A/c.
5. Clause 17(f)*– Any amount inadmissible u/s 40(a):
(a) Amount inadmissible u/s 40(a)(i):
– Any interest paid to a Non-Resident person or to a Foreign Company without TDS.
(b) Amount inadmissible u/s 40(a)(i)(a):
– Any interest, commission, brokerage, fees for Professional/ Technical Services or Contract Amount paid to a Resident
person without TDS.
(c) Amount inadmissible u/s 40(a)(i)(a):
– Any tax, interest or penalty under Income Tax Act or Wealth Tax Act debited to P&L A/c.
6. Clause 17(h)*– Section 40A(3) read with Rule 6DD:
– Whether any amount is inadmissible u/s 40A (3) read with Rule 6DD – relating to disallowance of any expenditure paid otherwise than by A/c. Payee Cheque?
– Obtain a Certificate from the Branch Management relating to payments covered u/s 40A(3).
7. Clause 21*- Bank’s Contribution and Employees’Contribution to Provident Fund- Annexure details to be verified.
Particulars of Income/ Expenditure of Prior Period credited or Debited to the Profit and Loss A/c. of the Current Year
8. Clause 27*- Compliance of TDS provisions:
– Verify TDS compliance under all relevant sections like Salary, Interest, Interest to NRI, Contract Payments, Technical & Professional Fees etc.
– Provide Details of :
(a) Tax Deductible but not deducted at all.
(b) Shortfall on account of lesser TDS than required.
(c) Tax Deducted late
(d) Tax Deducted but not paid to Central government