https://www.taxtmi.com/article/detailed?id=385 Tax audit for individuals and similar taxpayers must aggregate turnover and include all accounts and persons whose income is clubbed when determining audit applicability and preparing the Tax Audit Report. TARs must annex audited accounts for each relevant unit, disclose material transactions (or state nil where none), and expressly note if other auditors covered some units. Omission or segmented reporting can render a TAR incomplete and expose the assessee to assessment scrutiny and penalties; auditors should proactively compile consolidated statements and advise less-organized clients to ensure full compliance. en-us Mon, 08 Jun 2009 00:00:00 +0530 Mon, 08 Jul 2013 14:23:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=385 Tax audit for individuals and similar taxpayers must aggregate turnover and include all accounts and persons whose income is clubbed when determining audit applicability and preparing the Tax Audit Report. TARs must annex audited accounts for each relevant unit, disclose material transactions (or state nil where none), and expressly note if other auditors covered some units. Omission or segmented reporting can render a TAR incomplete and expose the assessee to assessment scrutiny and penalties; auditors should proactively compile consolidated statements and advise less-organized clients to ensure full compliance. Articles Income Tax Mon, 08 Jun 2009 00:00:00 +0530 https://www.taxtmi.com/article/detailed?id=385