Section 33ABA deduction requires audited Form 3AD detailing Scheme deposits, withdrawals, utilizations and deduction particulars. Form 3AD sets out the audit report and annexures required to substantiate a deduction under section 33ABA(2) Summary
Section 33ABA deduction requires audited Form 3AD detailing Scheme deposits, withdrawals, utilizations and deduction particulars.
Form 3AD sets out the audit report and annexures required to substantiate a deduction under section 33ABA(2) related to the Site Restoration Fund Scheme. It provides separate reporting formats where accounts have been audited under other law (Part I) or not (Part II), requires the auditor's opinion on books and financial statements, and mandates Part III particulars: books examined, accounting method, existence of separate petroleum accounts or aggregate turnover/profits if not separate, deposits with State Bank of India, interest, withdrawals and their utilisation, unutilised withdrawals, asset disposals, and the amount of deduction permissible under section 33ABA.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.