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Draft Board Resolution Appointment of Tax Auditor under IT Act

board resolution for appointment of tax auditor under companies act 2013A tax audit is different from statutory audit. While statutory auditor is being appointed to carry out audit of the accounts and relevant records of the company as per Chapter X: Audit and Auditors i.e. Sections 139 to 148 of the Companies Act, 2013, a tax auditor can be appointed to carry out the audit, if applicable on the company, as per Section 44AB of the Income-tax Act, 1961.

Template of board resolution for appointment of tax auditor is as follows—

SAMPLE #1

“RESOLVED THAT in accordance with the provisions of Section 44AB of the Income-tax Act, 1961 and any other applicable provisions, M/s. .........................., Chartered Accountants (Firm Regn. No. .......................), be and is hereby appointed as the Tax Auditors of the company, for the assessment year 20XX-XX, on a remuneration of Rs. .................. (Rupees ............................ only) excluding any applicable tax, and any out of pocket expenses incurred by them in this matter be reimbursed to them.”

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SAMPLE #2

“RESOLVED THAT M/s. .........................., Chartered Accountants (Firm Regn. No. .......................), be and is hereby appointed as the Tax Auditors of the company, in terms of Section 44AB of the Income-tax Act, 1961 and any other applicable provisions, including any amendment(s) thereto or re-enactment(s) thereof, for the financial year 20XX-XX, on a remuneration of Rs. .................. (Rupees ............................ only) excluding gst and any out of pocket expenses.”



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NOTE: The resolution samples here are only for your reference to help you with drafting. Do refer the exact provisions of the Companies Act and Income-tax Act to be able to not to miss out anything important while drafting.

Comments

  1. Danish Shah10/31/2019

    Thank you. Resolution format was good enough.

    ReplyDelete

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