Fill the necessary documents
Verification documents by the tax auditor
Preparation of report
A tax audit is the process of verification and inspection of the accounts of a taxpayer to confirm their adherence to the provisions of the Income Tax law. Political parties are barred from taking any activity of a commercial nature and thereby earning profits. This does not mean political party does not have any income at all. As already mentioned, political parties are allowed to accept voluntary contributions under RPA.
Companies are eligible to claim benefits. As per Section 80GGB of the Income Tax Act 1961, an Indian company that contributes any sum to a political party or an electoral trust registered in India can claim a deduction for the amount contributed by it
(1) Select a tax auditor.
(2) Fill the required form and submit to the auditor.
(3) Verification of form by the auditor.
(4) Preparation of report.
(1) Name of the parties.
(2) Address of the parties.
(3) Aadhar card of the parties.
(4) Tax distributed on profit.
(5) Tax summary.
(1) What is parties audit and taxations?
(2) Why is audit and taxation required?
(3) What is the objective of the tax audit?
(4) How many tax audit report a CA can sign?
