“STUDY ON TAXATION, AUDITING

SERVICES PROVIDED AT
AGRAWAL JAIN & KHEMKA”

SUMMER INTERNSHIP REPORT

Submitted In Partial Fulfillment of the Requirements

For The Award of the Degree Of

BACHELOR OF BUSINESS ADMINISTRATION (BBA)

Submitted by
Sarthak Agrawal
Enrollment No. A80306421060
BBA (5th Semester)

Guided by
Prof. Shilpi Gupta

2023-2024

Submitted to:
AMITY BUSINESS SCHOOL

AMITY UNIVERSITY, CHHATTISGARH, INDIA

 DECLARATION BY THE CANDIDATE

I Sarthak Agrawal hereby declare that the Project Work on the “ACCOUNTS
AND FINANCE, AT AGRAWAL JAIN AND KHEMKA (CA)” submitted by
me for the partial fulfillment of the degree of BBA is my original work and has
not been submitted earlier to any other University /Institution for the fulfillment of
the requirement for any course of study.

I also declare that no chapter of this thesis in whole or in part has been
incorporated in this report from any earlier work done by others or by me.
However, extracts of any literature which has been used for this report have been
duly acknowledged providing details of such literature in the references.

Signature of the student

Sarthak Agrawal
 CERTIFICATE BY INSTITUTE

This is to certify that this project report entitled “ACCOUNTS & FINANCE”
is a bonafide work carried out by Sarthak Agrawal of BBA of AMITY
BUSINESS SCHOOL for fulfillment of BBA degree course of AMITY
UNIVERSITY Raipur.

Prof. Shilpi Gupta Prof. (Dr.) Sumita Dave

(Internal Evaluator) Director, Amity Business School,

Raipur, Chhattisgarh

Date:
 CERTIFICATE BY THE EXAMINER

This is to certify that the project entitled “ACCOUNTS AND FINANCE AT

AGRAWAL JAIN & KHEMKA” submitted by Sarthak Agrawal has
been examined by the undersigned as a part of the examination for the award of
BACHELOR OF BUSINESS ADMINISTRATION degree of AMITY
UNIVERSITY, CHHATTISGARH (C.G.).

Name of the Examiner Signature of the Examiner

Date:
 ACKNOWLEDGEMENT

The completion of this undertaking could not have been possible without the participation and
assistance of so many people whose names may not all be enumerated. Their contributions are
sincerely appreciated and gratefully acknowledged. However, I would like to express their deep
appreciation and indebtedness particularly to the following.

I am also thankful to my faculty guide Prof. Shilpi Gupta from AMITY UNIVERSITY,
CHHATTISGARH, for being a source of support during the preparation of Summer Internship
Report. Last but not least I am grateful to all relatives, friends and others who in one way or
another shared their support, either morally, financially and physically, thank you.

Sarthak Agrawal
 INDEX

CHAPTER I: Introduction
Introduction of Organization Business Sector
About the Industry
Mission and Vision
Organizational Structure
Top 11 CA Firms in India
INTRODUCTION OF THE ORGANIZATION’S BUSINESS
SECTORS

Organization is working as Chartered Accountants firm under the rules and

regulations and code of ethics designed for CA firms by ICAI (The Institute of
Chartered Accountants of India).

The Institute of Chartered Accountants of India (ICAI or the Institute) was

established as statutory body on July 1, 1961 under Chartered Accountants
Ordinance, 1961 to regulate the profession of accountancy in the country.

ICAl is governed by the Council which consists of nineteen members. Fifteen

members are elected from amongst the members for a period of four years. The
remaining four of the Council members are nominated by the Government of
India.

These kinds of firms provide different kinds of professional services like audit,
taxation and management consultancy to its clients.

The Chartered Accountancy course is conducted by the Institute of Chartered

Accountants of India, which has its headquarters in New Delhi, 5 regional offices
(Calcutta, Kanpur, Chennai, Mumbai, New Delhi) and 81 branches under these
regional centers.
MISSION & VISION

Mission of ICAI:

Is to achieve excellence in professional competence, add value to businesses and

economy, safeguard public interest; ensure ethical practices and good corporate
governance while recognizing the needs of globalization.

Vision of ICAI:

The profession of Chartered Accountants in India should be the benchmark of

professional excellence upholding the principles of integrity, transparency and
accountability.
ORGANISATIONAL STRUCTURE

A hierarchy is an arrangement of items (objects, names, values, categories, etc.)

in which the items are represented as being "above," "below," or "at the same
level as" one another and with or1ly one "neighbor" above and below each level.
These classifications are made with regard to rank, importance, seniority, power
status, or authority. A hierarchy of power is called a power structure. Following is
the organizational hierarchy of the firm:-
►Partners
►Directors
►Senior Managers
►Managers
►Supervisors
►Senior Trainee Students
►Junior Trainees

Various levels of the firm have different functions. Partners are often the
founders of the firms. Most of the firn1s' names are associated with the names of
partners. They are basically the main parties who issue and sign any report
(specifically audit report) on behalf of the firm. Partners mostly communicate
with the Senior Managers. In other words, the progress of any report and any
inquiry is made from the Senior Managers and hierarchal structure is strictly
followed to avoid any disruption.

Managers are inquired of by Senior Managers and mostly manager manage audit
field works etc. and after field work managers with cooperation of senior
managers makes and finalize any audit report to be issued. Senior Manager is a
qualified Chartered accountant having more than IO year working experience.

Field work and information collection and implementation of policies by adopting

changes in rules & regulations is the main responsibility of supervisors and
trainees. They use different kind of techniques for error and fraud detection.
TOP 10 CA FIRMS IN INDIA

Top 11 CA firms in India are:

Deloitte:

Deloitte, in terms of Revenue, is the largest professional services network in

the world. Also on the basis of a number of professionals, it is the largest
professional services network in the world.

Deloitte is known for providing audit, tax, consulting, enterprise risk and
financial advisory services to more than 200,000 professionals in over 150
countries. They are the Advisors to many of the World's most admired
Brands.

The Consulting services of industries work on the theory of 'Providing

practical perspectives and solutions to queries.' Deloitte believes in 'Good to
make it great!' They believe in 'helping clients to become Leaders’.
PWC:

PwC is a prominent global professional services firm, specializing in audit, tax,

consulting, and advisory services. As a member of the "Big Four," PwC operates
in numerous countries, serving clients across diverse industries. Renowned for its
commitment to quality and innovation, PwC plays a crucial role in helping
businesses navigate financial complexities, implement strategic initiatives, and
stay abreast of industry trends and regulations.

The firm is known for its expertise in navigating rapidly changing landscapes and
leveraging innovation to help clients thrive in dynamic markets.

KPMG:

Operating across a multitude of nations, KPMG is dedicated to delivering a

comprehensive suite of services encompassing audit, tax, consulting, and
advisory functions. Renowned for its unwavering commitment to exacting
standards and ethical principles, KPMG is steadfast in aiding clients spanning
diverse industries in navigating intricate business terrains, ensuring financial
probity, and furnishing strategic counsel. The firm's reputation is underscored
by its notable emphasis on innovation and technological advancements, serving
as a pivotal guide for clients seeking adept adaptation to dynamic markets and
regulatory frameworks.
Ernst & Young:

Ernst & Young (EY) is a leading global professional services firm, part of the "Big
Four," renowned for its comprehensive offerings in audit, tax, consulting, and
advisory services. With a commitment to unwavering ethical standards, EY
guides clients through diverse business landscapes, ensuring financial integrity
and providing strategic counsel. Recognized for innovation, EY plays a vital role
in helping clients navigate dynamic markets and complex regulatory
environments, delivering astute solutions to global business challenges.

BDO International:

BDO International is a prominent global professional services firm,

distinguished for its expertise in audit, tax, advisory, and consulting services.
Operating internationally, BDO is a key player in the professional services
industry, known for its commitment to quality and client service.

The firm assists clients across various sectors in navigating complex business
landscapes, ensuring financial compliance, and providing strategic guidance.
BDO International's global presence and collaborative approach make it a
trusted partner for clients seeking comprehensive and personalized solutions to
their business challenges.
Grant Thornton International:

Grant Thornton is a UK based firm which has its branches in almost 125
countries. This firm is known for generating very high revenue which is more
than 4.5 billion dollars.
It is providing services in assurance, tax and advisory finns. Grant Thornton is also
known for providing services in Assurance and Taxation and other consultancy
services relating the financial matters.
It has been operating for I00 years. Grant Thornton has provided valued service
to organizations with the potential to grow and to operate internationally. It
makes the professionals adapt to market conditions and deal with complex
events or transactions.
The member office of Grant Thornton is situated in Connaught Place in New
Delhi.

RSM International:

RSM International is a globally recognized professional services firm specializing

in audit, tax, and consulting services. With a widespread international presence,
RSM is esteemed for its commitment to delivering high-quality client solutions.
The firm plays a pivotal role in guiding clients through complex business
environments, ensuring financial compliance, and providing strategic insights.
RSM's collaborative and client-focused approach distinguishes it as a trusted
partner for organizations across diverse industries seeking tailored solutions to
navigate global challenges.

SS Kothari Mehta & Co:

The best thing about this Firm is that it has over 55 years in existence. SS Kothari
has been one of the highly reputed firms in Delbi and has its branches in I00
other countries.
It has created a strong National presence through a network creation of 6 offices
and 20 associates which covers almost all U1e regions of U1e Country. With a
combination of Partners and Associates, it has covered almost all the parts of the
country.
It offers services in BPO, Tax Advisory Services, Merger and Acquisition, Statutory
Audit Services, Corporate Laws and other different areas.

Lodha & Co:

This is also a vintage firm set up in 1941 and has its offices all over India. They
operate in locations like Kolkata (Calcutta), Chennai (Madras), Hyderabad,
Mumbai (Bombay), New Delhi and Jaipur.
Lodha & Co. has proficiency in providing professional services to a large number
of corporate clients, central banks, banks, insurance companies, public sector
corporations etc. They operate both in India and Internationally.
Sahni Natrajan & Bahl (SNB):

SNB is a national Indian firm which is based in Delhi and provides its services in
the field of audit, consulting, accounting and allied areas. It was established in
1981and is one of the leading Firms in India having its Headquarters in New Delhi
and branch offices in Bangalore and Mumbai.
The Firm has kept its Aim for providing services of the highest quality, resulting in
the addition of value to each of its clients in a totally professional, independent
and ethical manner.
It is known for providing services in various areas like Taxation, Auditing and
Internal Audit, Corporate Laws and several other services relating to services.
ABOUT THE COMPANY

Agrawal Jain & Khemka is a leading chartered accountancy firm in

Raipur. It is rendering comprehensive professional services which
include audit, management consultancy, tax consultancy, accounting
services, manpower management, secretarial services etc.

It is a professionally managed firm. The team consists of

distinguished chartered accountants, corporate financial advisors and
tax consultants. The firm represents a combination of specialized
skills, which are geared to offers sound financial advice and
personalized proactive services. Those associated with the firm have
regular interaction with industry and other professionals which
enables the firm to keep pace with contemporary developments and
to meet the needs of its clients.

Agrawal Jain & Khemka has a clear vision for the future growth and
development of financial markets and services and research to stay
ahead of these trends and developments. Agrawal Jain & Khemka
moulds its operations and areas of competencies and introduces
services to assist clients in their business operations and growth.
DEPARTMENTS OF A CA COMPANY

Agrawal Jain & Khemka is having its head office in Raipur. Almost all
the controls and regulations are dealt at head office in Raipur. All the
offices constitute different number of departments who basically
handle their respective functions. The major departments include:

Audit and Assurance Department:

Firm provides audit and assurance services to wide range of clients

which include performing audits of financial statements of limited
companies, NGOs and partnerships. Firm also performs special
assignments which include management audits, internal audits and
investigations. Audit focuses on business issues and the matters that
can impact on the financial statements, whilst also retaining the basic
audit procedures that test the information contained in the financial
statements. Services are aimed to comply with the legal
requirements as defined under the various laws and regulations. ln
doing so firm not only identify the non-compliances but also assists
clients in its rectification, designing remedial measures and provides
guidance to adhere with the laws and regulations. Finn always
endeavor to meet reporting deadlines as set out by the laws and
regulations or as mutually agreed with clients, without compromising
the professional legal and ethical requirements.

Firm's emphasis is on delivering high quality services to clients,

adding value to their business through identification of existing and
potential control risks and suggesting best possible measures in the
given circumstances. firm always places priority to deploying audit
teams to clients who are well equipped with the specific industry
knowledge, experience and are professionally sound.
Tax and Corporate Department:

Firm delivers taxation services to clients and assists them in obtaining

optimal tax benefits available under the laws. Firm also assist clients
to comply with the tax rules and regulations and always keep them
updated with the latest developments and amendments. Tax
personnel are qualified professionals, experienced and
knowledgeable. We maintain a comprehensive tax library which
always provides ready references and timely solution in complex
situations. Fi.rm provides a comprehensive range of tax services
which includes:

• Preparation and submission of annual tax returns.

• Compliance services.
• Tax advisory services.
• Representation and litigation with tax authorities.
• Personal income tax services.

In Agrawal Jain & Khemka same staff is handling with tax matters as
well as corporate sector. While in corporate firm provides different
kinds of services relating to corporate sector from incorporation to
winding up of a Company.

Computer Department:

Department handles the computer related matters and assists other

departments in working properly and efficiently. Department deals
with online filing of returns of income for tax department and finalize
audit reports i.e. proper format in a presentable manner. It deals with
networking of computers in office and all other problems which may
be faced by computer users time to time.
Correspondence Department:

It handles with all the correspondence of the fim1 by sending the

solicited and unsolicited information from time 10 time. Effectively
and efficiently manage the day-to-day operations of the
Correspondence. Interact with clients to resolve policy and customer
issues. Identify trends and remove obstacles in Statement production
and delivery by properly maintaining record of all communication for
future reference.

HR Department:

This department is mainly concerned with the recruitment,

hiring/firing of the firm and this department presents the timely
reports on effective utilization of the resources by the firm. A
purpose of the human resource is to keep the trained employees and
recruit new energetic staff to work. Another purpose of this
department is to provide a good working environment for staff and
try to make by facilitating them and arranging some recreational
activities for them. HR knows the real worth of its employees so cares
for them and motivate them to work more efficiently and diligently.

The hierarchy adopted by Agrawal Jain & Khemka is in accordance

with the legal structure a CA fim1 shall have. Although the ICAI rules
permits of not having the supervisors and does not make it
mandatory having senior manager and manager, yet this goes as
additional benefit for the firm of having such an extensive hierarchy.
CORPORATE SERVICES

Corporates services offered by the CA firm are:

 Incorporation of company
 Consultancy on Company Law Matters
 Accounting and Bookkeeping
 Business Valuation
 Company Secretarial Services
 Tax Planning and Compliance
 Filling of annual returns and various forms, documents
 Financial Advisory
 Financial Reporting
SERVICES OFFERING

Company Registration:

The most common business composition is to register a Pvt. Ltd.

Company. Company registration will enable limiting the person
liability of promoters to the extent of paid-up capital. Promoters
must get DIN & check availability of tile company name.

One Person Company:

Register one-person company (u/s 2 (62) of Companies Act 2013) for

quick start of your business within reasonable fees by experienced
CA firms.

LLP Registration:

Limited Liability Partnership (LLP) has benefit of the company

registration & easiness of partnership. It is apt for small businesses.
Experienced CA firms can ease out the process within reasonable
fees.

GST Registration:

OST registration of business is to enable selling of goods with

turnover value beyond a certain limit. Limit may differ from state to
state. It is necessary to get OST Input Tax Credit. Experienced CA
firms can ease out the process within reasonable fees.

Project Financing:

Companies need funds to grow their business. Experienced CA can

prepare project report for loan financing to ensure that you get best
eligible amount in the shortest lime. Generally, fees are charged as
percentage of financed amount.
ROC Filling:

Periodic returns/forms need to be submitted to Registrar of

Companies (ROC) for company's act compliance. Experienced CA
firms can file timely & correct ROC filing in reasonable overall cost.

GST Return:

GST returns to be filed on periodic basis by business to provide

infom1a1ion about value of turnover & total GST liability & mode of
payment. Frequency may differ from state to state. Delays will attract
penalty. Experienced CA firms can ensure compliance with
reasonable fees.

TDS Return:

Income tax act requires TDS (Tax Deducted at Source) deduction file
the TDS return on periodic basis by mentioning TAN No.

Income Tax (Salaried):

Income tax return of salaried employee can be filed with help of

Form 16 & Form 16A. Form 26 AS will help you in getting information
about TDS on salary. Experienced CA firm can help you for better tax
planning and reduce the TDS.

Income Tax (Business):

Income Tax returns filing is requirement of Income Tax Act for

companies/businesses. Tax Audit Report helps in compliance of
income tax laws. Experienced CA firn1s can help in reducing non-
compliance of income tax laws.
Tally Accounting:

Tally is most used accounting software. Small and medium sized

business can take services from CA firms who can allocate
accountants to handle accounting for your business.

Statutory Audit:

Get the statutory audit of your company under Companies Act from
experienced CA firms. Statutory Audit is compulsory for any type of
company.

Tax Audit:

Tax Audit is requirement of Income Tax Act for companies/large

businesses. Tax Audit Report helps in compliance of income tax laws
& highlights key tax related information. Experienced CA firms can
help in reducing non-compliance of income tax laws.

Internal Audit:

Internal Audit & internal Financial Control Testing is needed as per

Companies Act. Internal Audit is not as compulsory as Statutory
Audit. Internal auditor can add value to your business to arrest
leakage & improve control and efficiency.
OBJECTIVE OF STUDY

I choose to work with Agrawal Jain & Khemka. During this internship I
have learnt many new skills. Before internship I have only theoretical
knowledge about work in organization but now, I have practical some
practical experience of working in organization. Now I have
knowledge about the organization's working environment and how
organizations work and achieve their goals and objectives.

This internship must give me the understanding of business and

about the elements of strategic thinking, planning and
implementation, and bow these things are applied in a real-world
organization environment. Following are the objectives that I had in
my mind before working as an internee.

► To improve communication skills.

► To analyze the business situation.
► To establish high standard in professionalism.
► To learn more than the theoretical knowledge.
► To learn bookkeeping practices of different companies.
► To apply the theoretical knowledge in actual organization.
► To compare practical aspects with theoretical aspects.
► To make quick decision in real situations.
► To learn how to promote and to conduct research in
business areas.
► To enhance my personal knowledge and professional
preparation for future.
► To properly integrate my theoretical knowledge and
practical work.
► To plan for the future of oneself and learn how to adjust
in an organization.
JOB DESCRIPTION

I have tried my best to enhance my abilities and apply the knowledge

that I gained during the studies. On my first day at firm, company’s
credit analyst gave me training session about CMA and Provisional
balance-sheet and shared her practical experience with me and gave
me some techniques of this process. She also guided me that how to
prepare a project report for long term loan and preparation of file for
applying loan for businesses.
 CHAPTER : 3
RESEARCH
METHODOLOGY
PURPOSE OF THE STUDY:

The purpose is to study about the taxation and auditing services provided by the CA
firms. While assisting the CA / auditor doing the tax audit for the various clients’
companies, I also, examined the effectiveness and benefit of the services provided by the
CA firms to their respective clients and observing the level of satisfaction of the clients.

RESEARCH OBJECTIVES OF THE STUDY:

To examine the necessity of conducting the audits for the clients, why it is a requisite for
the firms to get the Audits done of their financial accounts and the timely filing of the
taxes levied on them.
For examining whether the services provided by the CA firms are satisfactory and the
activities are conducted while maintaining the authenticity and confidentiality for the
client companies or not.
To learn about what is taxation and auditing, how they are made mandatory and why it is
necessary for companies, individuals to pay taxes

RESEARCH METHODOLOGY ADOPTED :

The study is based on analytical method. The primary data is collected by personal
collection of the book of accounts of the mentioned clients and thereby conducting the
tax audit, along with interviewing the staff for knowing the views, comments and
confidence regarding the performance of audit, taxation and consultancy services given
by the CA firms.
The primary data is collected by interviewing the internal staff of the client companies.
The secondary data is collected from the books and websites.

RESEARCH DESIGN:

The research design is of Descriptive type since it involved in studying the in-depth
analysis of the data of the clients and only after analyzing the task of performing the
tax audit on the financial statements provided by the clients would be performed.

SAMPLING PLAN:

The sample that was taken was the number of the clients for whom I had personally
assisted the CA while conducting the tax audit function.

SAMPLE SIZE :

The sample that was taken was the number of the clients for whom I had personally
assisted the CA while conducting the tax audit function. Hence, The study was
performed on the 6 major clients.

SAMPLE POPULATION:

The sample area consists of the number of the clients for whom I had personally
assisted the CA while conducting the tax audit function. Hence, The study was
performed on the 6 major clients.
 CHAPTER : 4
DATA COLLECTION
METHOD OF DATA COLLECTION:

DATA SOURCE:

The data required for conducting of the study was collected from the primary sources
of data, namely, from the accounts office of the clients for whom I had personally
assisted the CA while conducting the tax audit function. Also, for performing the
tallying function of the Sales tax figures, for the matching of the figures, the data was
also gathered from the Income tax department websites, the website of Sales tax,
VAT/DVAT/CST etc.

Primary Sources: Client’s Companies Accounts Office

Secondary data: Registrar of Companies, Income Tax Department, Sales tax,

VAT/DVAT/CST websites etc.

ANALYSIS TECHNIQUE:

The data collected from the offices was analyzed using accounting methods and
techniques. For the diagrammatic representation, Pie charts, Bar diagrams are used to
reach at the conclusions. Findings are made on the basis of analysis of the data
gathered from the primary and secondary sources. Recommendations are made on the
basis of findings drawn from various data collected and also based on the observations
for the areas where corrections can be made.
LIMITATIONS:

The study was limited to few departments in the organizations.

Unavailability of executives in their cabins as they were engaged in field work at that
time.
Since, the study is based on personal learning experience, possibility of errors cannot
be ruled out.
Since the report is based on the primary data and personal interview, there is a
possibility of occurrence of false judgment and biased opinion of the auditor.
 CHAPTER 5:
DATA ANALYSIS
COMPANY 1:

M/s S.A.RUBBER (INDIA)

TRADING AND PROFIT &LOSS

ACCCOUNT FOR THE YEAR
PARTICULARS AMOUNT
ENDED PARTICULARS
31.03.2017 AMOUNT
To Opening Stock 3647222.00 By Sales 8192388.06
By Closing Stock
To Purchases 5078269.49 (BO) 3708000.00
To Bonus Exp 82630.00
To Electricity Exp 273288.00
To E.S.I Exp 76625.00
To Wages 677465.00
To Carriage Inward 4249.00
To Gross Profit 2060639.57
11900388.06 11900388.06
To Accounting Charges 48000.00 By Gross Profit 2060639.57
To Courirer& Postage 344.00 By Interest 1492.00
By Sale of empty
To Electricity (office) Exp. 13870.00 drums 34000.00
To Freight & Forwarding By Sale of scraps
Charges 1050.00 &rakhs 9423.50
To House Tax 11848.00 By Dividend 1500.00
To Insurance Exp 2046.00
To Bank Interest 34987.08
To Interest on TDS 639.00
To ISO Exp 7866.00
To Legal Exp 3000.00
To Licence Fees 5900.00
To Manufacturing Exp 13692.00
To MiscExp 5334.00
To Car hiring charges 120000.00
To Salary 658950.00
To Telephone Exp 1200.00
To Bank Charges 17954.24
To DeprectionExp 220478.40
To Interest on Loan 378845.10
To Licence Fees (I.S.I ) 35057.00
To Petrol & Diesel 10500.00
To Printig& Stationery 8385.00
To Rent 65510.00
To Short & Excess 1063.23
To Cess to Rubber Board 4681.00
fee
To Net Profit 435855.02
2107055.07 2107055.07

BALANCE SHEET AS ON
31.03.2017
LIABILITIES AMOUNT ASSETS AMOUNT
CAPITAL
ACCOUNT FIXED
ASSETS
Opening
Balance 2863157.58 Branch Office 2938421.70
Add Addition 1050000.00 Head Office 657213.00 3595634.70
Add profit &
Loss 435855.02
CURRENT
4349012.60 ASSETS
Less Home
Loan 250440.00 Closing Stock 3708000.00
Less Drawing 470000.00 3628572.60 UP Vat (C/F) 5578.39
Prepaid
Insurance 22510.00 3736088.39
LOAN AND
ADVANCES 4580843.30
As per
Schedul Sundar
e y
attache Debtor
d s
As per
Schedul
e 395639.59
attache
d
BANK Advance to
OVERDRAFT Suppliers 770686.00 1166325.59
Canara Bank 683188.25
A/C
No.02672617
2 086
Security
Deposit
Sundry
Creditors
(as per
schedule 387628.00 Sh. A.K. Jain 35927.00
attached)
Electricity
Security 23992.00
Telephone
Provisions Security 2010.00 61929.00
ESI 7295.00
CASH AND
TDS 37885.00 BANK
Salary 42261.00 Cash in Hand 909083.97
Payable
Canara Bank
Wages 67852.00 SB A/c 3518.64
Payable
The Vaish
Coop,
CST 65154.14 Bank 33099.00 945701.61
(H.O)
Rent 5000.00 225447.14

9505679.29 9505679.29

STATEMEN
T OF
ASSESSABL AMOUNT
E INCOME (Rs)

INCOME
FROM
BUSINESS
OR
PROFESSIO
N
As per Profit
& Loss A/c 435855.02

INCOME
FROM
House
Property
Interest paid (3480-
on self 1160-
occupied 696-
house 119954
property ) -118330.00

INCOME
FROM
CAPITAL
GAIN
Sale
Consideration 14980000
Less Transfer
cost 749000
Net
Consideration 14231000
Inexed Cost
of Purchase
and
Improvement
s
1983-84 82819 731092
1984-85 80912 662831
1985-86 106750 821895
1986-87 50000 365714
1987-88 35000 238933
355481 2820465
11410535
Less invested
in capital gain
scheme 7945200 3465334.68

INCOME
FROMOTH
ER
SOURCES
Bank interest 66452
FDR Interest 209070 275522.00

GROSS
Income 4058381.70
Less:Under
chapter VI-A
U/s 80C 30000.0
 PPF 0
u/s 80C
Principal but
amount of 130486. restrict
House Loan 00 ed 150000
U/s 80TTA
Bank Intt 10000 160000.00
Total Income 3898381.70

Rounded off 3898380.00

TAX
COMPUTA
TION:

special
Tax on above rate 3465330 @0.20 693066
normal
rate 433050 @0.10 13305 706371(*1)
Add:
Education
Cess @ 3% 21191

Total Tax
Due 727562
Add: Interest 10416

Total Tax &

Interest 737978(*2)

Tax Paid TDS 177739

Advance
Tax 401000
Self
Assess
ment Tax 159239 737978

(*1)-(NORMAL RATE -300000) X 0.1

(*2) -(TOTAL TAX DUE + INTEREST)

FINANCIAL RATIOS:

GROSS PROFIT RATIO = Gross Profit x 100

 Sales

= (2060640/ 8192388 ) x 100 = 25.15%

NET PROFIT RATIO: = Net Profit x 100

Sales

= 435855 x 100

8192388

= 5.3%

STOCK IN TRADE
TURNOVER RATIO: = Closing Stock x 100

Sales

= 3708000 x 100
8192388

= 45.26%

FINANCIAL
RATIOS

NPR,
17.95383924
GPR,
44.36948371

ANALYSIS:

The financial ratios pie chart shows that STR is at 60% while the GPR & NPR are at
33% & 7% respectively stating that while the firm is making profit it is maintaing a
higher stock in trade turnover ratio which suggests that the businesses need to hold
stock for a longer period.

TAX
450000 COMPUTATION
0
400000
0
350000
0
300000 Series
0 1
250000
0
200000
0
150000 GROSS Total Income Tax on above Total Tax
&
0
Income Interest
100000 Paid
0
500000
0
Analysis:

The tax computation chart shows the total taxes payable for the firm after sucessful
deductions from the gross total income. It shows that since, the total income to be
taxable was at Rs.38,98,380, hence, after the deduction of tax slabs it falls under and
calculating by special and normal rates, the tax payable amount is derived at and which
is higher in this case at Rs.737978
Company 2:

M/s BANSAL STATIONERS

TRADING AND PROFIT &LOSS

ACCCOUNT FOR THE YEAR
ENDED 31.03.2017
PARTICULARS AMOUNT PARTICULARS AMOUNT
To Opening Stock 7211500.00 By Sales 9791716.00
To Purchases 3683378.00 By Discount on 826657.00
purchase
By Closing Stock (BO) 691500.00
To Gross Profit 414995.00
11309873.00 11309873.00
To Audit &DSC Fee 7500.00 By Gross Profit 414995.00
To Bank Charges 810.00 By Interest on Security 45000.00
To Car
Running&maint 28450.00 By Rebate & Discount 3.00
To car insurance 5252.00
To Conveyance Exp. 14215.00
To Depreciation 25259.00
To Miscellaneous
Expenses 921.00
To Sales Promotion 16045.00
361546
To Net Profit
459998.00 459998.00

BALANCE SHEET
For the year ending 31.03.2017

LIABILITIES AMOUNT ASSETS AMOUNT

CAPITAL FIXED ASSETS 143132.00
ACCOUNT
Opening Balance 1892117
230252.
Add Addition 00
361546.
Add profit 00
2483915
.00 CURRENT
ASSETS
Sundary 920762.00
Debtors
111550.
Less Drawing 00 2372365.00
Advance to
Suppliers 1689406.00
UNSECURED
LOANS 571000.00 DVAT 9321.00
Closing Stock 691500.00

CURRENT LIABILITIES

Sundry Creditors 687285.00 CASH AND

BANK
Cash in Hand 13473.00
PAYABLES & Canara Bank A/c 165246.40
PROVISIONS
DVAT 2190.00

3632840.00 3632840.00

Statement Of Assessable
Income

Source Of Income Amount(Rs)

Income From Business

Net Profit from Business 361546.00

Income From Other

Sources
Bank Interest 4000.00

Gross Total Income 365546.00

Less:Deduction Under
Chapter VIA
Deduction Under Section
80C - 31305.00
LIC Premium
 Deduction Under Section
80TTA - Bank Intt 4000.00 35305.00

Total Income 330241.00

Rounded Off 330240.00

Tax
Computatio
n
Tax On Above 8024
Less: Rebate u/s 87A 2000
6024
Add:EducationCess @ 3% 181
Total Tax Payable 6205
Tax Paid 6205

FINANCIAL
RATIOS
NPR,
STR, 3.69236607 NP
7.06209207 8 R
9
GP
GPR,
4.23822545 R
5 ST
R

ANALYSIS:

The financial ratios pie chart shows that STR is at 47% while the GPR & NPR are at
28% & 25% stating that while the firm is making profit it is maintaing a higher stock
in trade turnover which suggests that the businesses need to hold stock for a longer
period
 TAX
35000 COMPUTATION
0
30000
0
25000
0
20000
0
15000
0
Total Tax Tax On Total
10000 Payable Above Income
0
50000
ANALYSIS:
0
The tax chart shows the total taxes payable for the firm after sucessful deductions from
the gross total income. It shows that the total income to be taxable was at Rs.365546
& after the deduction of tax under the tax slabs, the tax payable amount is derived at
Rs. 6205 and it is less in this case.

COMPANY 3:

M/S PUNEET & Company

Trading & Profit & Loss Account

(For The Year Ending 31st March,2017)
Particular Amount Particular Amount
To Opening Stock 532400.00 By Sales 13788116.00
To Purchases 11506985.00 By closing Stock 528700.00
To Cartages 15903.00
To Wages 432000.00
To Gross Profit 1829528.00
14316816.00 14316816.00
To Account Charges 40000.00 By Gross Profit 1829528.00
To Advertisement 138465.00 By Excess & Short 208.00
Exp.
To Audit Fee 20000.00
To Bank Charges 10255.10
To Car Insurance 15272.00
To Car Maintenance 12500.00
To Commission 65000.00
To Conveyance Exp. 37750.00
To Depreciation 126364.00
To Intt. Paid on Car
Loan 31857.27
To Intt. Paid on Other
Loans 17974.78
To Job Labour 312240.00
Charges
To Legal Expenses 26000.00
To Postage Exp. 17000.00
To Printing &
Stationery 1302.00
To Rent 168000.00
To Salary 186000.00
To Sales Promotion 24400.00
To Staff Welfare 19600.00
To Telephone Exp. 840.00
To Net Proffit 558915.85
1829736.00 1829736.0
0

BALANCE SHEET
(For the year ending of 31st March 2017)

LIABILITIES AMOUNT ASSETS AMOUNT

CAPITAL A/C FIXED ASSETS
Opening Balance 1320691.70 716064.00
Add:Profit 558915.85
1879607.55 CURRENT
ASSETS
Less:Drawing 258789.00 1620818.55 Sundry Debtors
3269833.00
Advance to
SECURED LOANS Suppliers
HDFC Bank 296480.94 158492.00
HDB Finance 27625.02 324105.96
Closing Stock 528700.00
CURRENT DVAT Refund 473144.00
LIABILITIES
Sundry Creditors VAT Input 73436.00
2946470.00
Advance From CASH & BANK
Customers
944000.00 Cash In Hand 465788.00
Yes Bank 430.30
PAYABLES &
PROVISIONS ICICI Bank 177064.71
Accounts Charges The Kangra Co-
Payable 10000.00 Op 2442.50
Bank Ltd.
Audit Fee 20000.00 30000.00

5865394.51 5865394.51

STATEMENT OF
ASSESSABLE INCOME AMOUNT(Rs)

INCOME FROM
BUSINESS OR
PROFESSION
As per Profit & Loss A/c 558915.85

INCOME FROMOTHER
SOURCES
Bank interest 7500.00

GROSS TOTAL INCOME 566415.85

Less:Under chapter VI-A
u/s 80C LIC 66751.00
maximum
u/s 80D Mediclaim 22704 to 15000.00
u/s 80TTA 7500.00 89251.00
Total Income 477164.85
Rounded off 477160.00
TAX COMPUTATION

Tax on above 22716

Less: Rebate u/s 87A 2000
20716
Add: Education Cess @ 3% 621

Add: Interest u/s 234B &

234C 2067

Total tax payable 23404

Tax Paid 23404

 FINANCIAL
RATIOS

STR,
3.834461503
GP
NPR, GPR, R
4.053605656
13.2688758 NP
9
R
ST
R

ANALYSIS:

The financial ratios pie chart shows that STR is at 18% while the GPR & NPR are at
63% & 19% stating that while the firm is making higher gross profit, it is also
maintaing its stock in trade turnover which suggests that there is fast movement of
stock and hence, the businesses do not need to hold their inventory for longer time.

TAX
35000 COMPUTATION
0
30000
0

25000
0
Series
20000 1
010000
0
15000
05000
0
Total Tax on Total Tax
0 Income above payable
ANALYSIS:

The tax computation chart shows the total taxes payable for the firm after sucessful
deductions from the total income. It shows that since, the total income to be taxable
was at Rs., 477164.85, hence, after the deduction of tax slabs it falls under, the tax
payable amount is derived at Rs.23404 and which is less in this case.

COMPANY 4:
M/s Akshh International
Prop: Vikas Gupta

Trading & Profit & Loss Account

(For The Year Ending 31st March,2017)
Particular Amount Particular Amount
To Opening Stock 4736812.00 By Sales 62966143.00
To Purchases 64053516.75 By closing Stock 8393297.00
To Gorss Profit 2569111.25
71359440.00 71359440.00
To Accounts Charges 28500.00 By Gross Profit 2569111.25
To Audit fee 10000.00 By Excess & Short 6336.70
To Bank Charges 1123.60
To Car Insurance 15562.00
To Car Maintenance 58636.00
To Conveyance 18000.00
To Depreciation 92636.00
To Intt. Paid on Loans 1087936.00
To Rent 30000.00
To Salary 360000.00
To Staff Welfare 19275.00
To Telephone Exp. 43955.00
To Trade Discount 444.00
To Travelling Exp. 144750.00
To Net Proffit 664630.35
2575447.95 2575447.95
BALANCE SHEET
(For the year ending of 31st March 2015

LIABILITIES AMOUNT ASSETS AMOUNT

CAPITAL A/C FIXED ASSETS
(As Per Annexures
Opening Balance 7493462.32 "A") 774936.00
Add:Addition 770000.00
Add:Profit 664630.35 CURRENT
ASSETS
8928092.67 Sundry Debtors
(As Per Annexures
Less: Drawing 240000.00 8688092.67 'C') 10690482.00
Closing Stock 8393297.00
UNSECURED 9602629.00 Security 23500.00
LOANS
Special Additional
CURRENT Custom Duty 3483713.50
LIABILITIES
Sundry Creditors 2254791.85
Advance From
Customers
2730519.00 CASH & BANK
Cash In Hand 983.56
PAYABLES &
PROVISIONS Yes Bank Ltd 360065.46
Audit Fee Payable 10000.00
VAT Payable 275189.00
CST Payable 56962.00
TDS Payable 108794.00 450945.00

23726977.52 23726977.52

Statement Of Assessable
Income
Source Of Income Amount(Rs)
Income From Business
Net Profit from Business 664630.35

Income From Other Sources

Bank Interest 1000.00

Gross Total Income 665630.35

 Less:Deduction Under Chapter VIA
Deduction Under Section 80C - LIC
Premium 21308.00
Deduction Under Section 80TTA -
Bank 1000.00 22308.00
Intt

Total Income 643322.35

Rounded Off 643320.00
TAX COMPUTATIO
N

Tax On Above *39332

Less: Rebate u/s 87A 2000
37332
Add:EducationCess @ 3% 1120
Total Tax Payable 38452
Tax Paid 38452

*(Taxable Income roundoff -250000) x 0.1

FINANCIAL
RATIOS
NPR,
3.692366078 NP
STR, R
7.062092079 GP

GPR, R
4.238225455
ST

ANALYSIS: R

The financial ratios pie chart shows that STR is at 47% while the GPR & NPR are at
28% & 25% stating that while the firm is making profit it is maintaing a higher stock
in trade turnover which suggests that the businesses need to hold stock for a longer
period
 TAX
35000 COMPUTATION
0
30000
0
25000
0 Se
r
20000
0
15000
0
10000 Total Income Tax on above Total Tax
payable
0
50000
ANALYSIS:
0

The tax computation chart shows the total taxes payable for the firm after sucessful
deductions from the gross total income. It shows that since, the total income to be
taxable was at Rs.643322, hence, after the deduction of tax slabs it falls under, the tax
payable amount is derived at Rs. 38452 and which is less in this case.

COMPANY 5:

M/s Delhi Acrylic Co.

Prop: DevenderSah

Trading & Profit & Loss Account

(For The Year Ending 31st March,2017)
Particular Amount Particular Amount
To Opening Stock 519500.00 By Sales 14663291.00
By closing
To Purchases 13239427.00 Stock 258600.00
To Cartage-Inward 63225.00
To Gorss Profit 1099739.00
14921891.00 14921891.00
By Gross
To Accounts Charges 12000.00 Profit 1099739.00
To Audit fee 7500.00
To Bank Charges 4701.55
To Bank Interest 937.00
To Conveyance 32400.00
To Electricity Exp 96200.00
To Fright & Forwarding 29000.00
To Professional 8500.00
Charges
To Rent 120000.00
To Salary & Wages 432000.00
To Sales Promotion 20325.00
To Staff welfare 22175.00
To Net Proffit 314000.45
1099739.00 1099739.0
0

BALANCE SHEET
(For the year ending of 31st March 2017)

LIABILITIES AMOUNT ASSETS AMOUNT

CURRENT
CAPITAL A/C ASSETS
Opening Balance 285977.00 Sundry Debtors
Add: Addition 550000.00 5273719.00
Add: Profit 314000.45 Closing Stocks 258600.00
1149977.45
Personal
Less: Drawing 180000.00 969977.45 Investment 1268000.00
PNB FDR 1800000.00
UNSECURED LOANS
AshaYadav 1150000.00 CASH & BANK
NeealmYadav 1750000.00 2900000.00 Cash In Hand 37775.00
Yes Bank Ltd 117452.00
Punjab National
PNB OD A/c 1591050.00 Bank 1941243.45
CURRENT
LIABILITIES
Sundry Creditors
4869791.00
Advance From
Customers
329429.00
EXPENSES PAYABLE
Accounting Charges 19200.00
Audit Fee 7500.00
CST 1342.00
Professional Charges 8500.00 36542.00

10696789.45 10696789.45
 Statement Of Assessable Income

SOURCES OF INCOME Amount(Rs)

Income From Business
Net Profit from Business 314000.45

Income From Other Sources

Bank Interest 1500.00

Gross Total Income 315500.45

Less:Deduction Under Chapter VIA
25308.
Deduction Under Section 80C - LIC Premium 00
1500.0
Deduction Under Section 80TTA - Bank Intt 0 26808.00

Total Income 288692.45

Rounded Off 288690.00
Tax Computation
Tax On Above 3869
Less: Rebate u/s 87A 2000
1869
Add:EducationCess @ 3% 56
Total Tax Payable 1925
Tax Paid 1925

FINANCIAL
RATIOS
ST
R,
1.7 GP
6 R
GPR, NP
NPR, 2.14 7.50 R
ST
R
ANALYSIS:

The financial ratios pie chart shows that STR is at 15% while the GPR & NPR are at
66% & 19% stating that while the firm is making higher gross profit it is maintaing its
stock in trade turnover which suggests that there is faster movement stock and hence,
the businesses do not need to hold higher inventory

TAX
35000 COMPUTATION
0
30000
0
25000
0 Series
1
20000
0
15000
0 Total Income Tax on above Total Tax
10000 payable
0
50000
ANALYSIS:
0

The tax chart shows the total taxes payable for the firm after sucessful deductions from
the gross total income. It shows that the total income taxable was at Rs. 288692.45,
after the deduction of tax, the tax payable amount is derived at Rs. 1925 and it is less in
this.
COMPANY 6:
M/s Shiv Engineering
Prop: Ashok Shukla

Trading & Profit & Loss Account

(For The Year Ending 31st March,2017)
Particul Amount Particular Amount
ar
To Opening Stock 532400.00 By Sales 1986820.00
To Purchases 150492.00 By closing Stock 538700.00
To Cartages 15904.00
To Wages 332000.00
To Gross Profit 1494724.00
2525520.00 2525520.00
To Account Charges 40000.00 By Gross Profit 1494724.00
To Advertisement Exp. 106665.00 By Excess & 508.00
Short
To Audit Fee 25000.00
To Bank Charges 15255.10
To Car Insurance 15272.00
To Car Maintenance 12500.00
To Commission 65000.00
To Conveyance Exp. 37750.00
To Depreciation 156364.00
To Intt. Paid on Car Loan 31857.27
To Intt. Paid on Other 17974.78
Loans
To Job Labour Charges 112240.00
To Legal Expenses 26000.00
To Postage Exp. 17000.00
To Printing & Stationery 1302.00
To Rent 198000.00
To Salary 176000.00
To Staff Welfare 19600.00
To Telephone Exp. 840.00
To Net Proffit 420611.85
1495232.00 1495232.00
 FINANCIAL
RATIOS

STR,
27.1136791 GP
5 GPR, R
75.2319787 NP
NPR, 4
R
21.17010348
ST
R

ANALYSIS:

The financial ratios pie chart shows that STR is at 22% while the GPR & NPR are at
61% & 17% stating that while the firm is making higher gross profit it is maintaing its
stock in trade turnover which suggests that there is faster movement stock and hence,
the businesses do not need to hold higher inventory.

TAX
35000 COMPUTATION
0
30000
0
25000
0 Series
1
20000
0
15000
0
Total Income Tax on above Total Tax
10000 payable
0
50000
0
ANALYSIS:

The tax computation chart shows the total taxes payable for the firm after sucessful
deductions from the gross total income. It shows that since, the total income to be
taxable was at Rs. 318860.85, hence, after the deduction of tax slabs it falls under, the
tax payable amount is derived at Rs. 7100 and which is less in this case.

ANALYSIS & INTERPRETATION OF THE DATA :

KEY POINTS TO CONSIDER (FOR TAX AUDIT) :

Cash Payments should not be more than 20,000/-

Depreciation on the Assets are ascertained on the basis of their date of purchase
100% depreciation for 1-6 months old used assets
More than 6 months – 50% of rate of depreciation is charged

Unsecured Loans for more than 20,000/- are not allowed to paid in Cash.

Ensuring that the proprietor has issued TDS certificates to the contractors, to the
salaried workers and professional heads etc. for the job rendered by them to the
company.

Timely deposit of the quarterly Income tax returns

TDS is deducted, deposited and filing of the TDS returns with the Income Tax
department.

Also, the Income tax returns are timely sent to the IT department.

Matching the challans of the payment of VAT, purchase bills.

Yearly analysis of the GPR, NPR, Stock-in-trade turnover ratios and ensuring there are
no abnormal losses incurred by the company.

Checking and tallying the bills of expenditures, rent , purchases etc.

Matching the Sales figures with the Sales tax returns and purchases figures from DVAT.

Examining whether the stock-in-trade ratio is higher or smaller

Analysis of the current debtors:

Ensuring they must be just 3 months old otherwise create provisions for bad debts for the
debtors who are more than 6 months old.
 CHAPTER 6 :
FINDINGS & SUGGESTIONS
FINDINGS:

The findings drawn are as follows;

Cash Payments are not more than 20,000/- and there is timely payment to the creditors

Depreciation on the Assets are ascertained on the basis of their date of purchase
100% depreciation for 1-6 months old used assets
More than 6 months – 50% of rate of depreciation is charged
Mostly, the rate of depreciation used is at 18%.

Unsecured Loans for more than 20,000/- are paid in Cash rather they are paid through
cheques and there is no bouncing of those cheques observed.

The proprietor has issued TDS certificates to their contractors, to the salaried workers
and professional heads etc. for the job rendered by them to the company and also, they
have been issued the TDS certificates from the financial institutions.

There has been timely deposit of the quarterly Income tax returns as well as of sales tax
returns which are tallied through the sales tax website.

TDS has been deducted, deposited and filing of the TDS returns with the Income Tax
department.

Also, the Income tax returns are timely sent to the IT department.

The challans of the payment of VAT, purchase bills provided by the clients are matching
and hence, entered in the tally erp software.

Yearly analysis of the GPR, NPR, Stock-in-trade turnover ratios and the business
ensured that there are no abnormal losses incurred by the company.

Also, where there is higher stock-in-turnover ratio the firms have been advised to hold
the stocks and for the smaller ratios, it suggested that the businesses are having good
and the faster flow of the stock movement.

The bills of expenditures, rent , purchases are checked and tallied etc.

The Sales figures are in accordance with the Sales tax returns and purchases figures from
DVAT.
Also, there has been no undue shortage or misappropriation of funds observed alongwith
the all the payments and incomes statements in accordance with the figures mentioned in
the financial statements.

Many clients business was observed that they set-off their liabilities early and there was
little delay in the payments to the creditors and there has been less delay.

Analysis of the current debtors: Ensuring they must be just 3 months old otherwise create
provisions for bad debts for the debtors who are more than 6 months old.

The Relevant Tax Authority (RTA) employed tax audit towards achieving target
revenue.

Tax audit reduces the problems of tax evasion, tax avoidance and other tax
irregularities.

Tax audit aimed at ensuring the submission of accurate and current returns for proper
computation.

Awareness on tax rules and regulation increase compliance and reduce non-compliance
tax payers.

That one of the reason behind the tax audit is the suspicion over the returns submitted
by the tax payers.

Tax payers do not usually co-operate with the tax audit personnel during the exercise.

Tax audit improves the level of tax compliance by the tax payers.

No effective sanctions over the non-compliance tax payers with the tax rules and
regulations.

The personnel conducting the tax audit are skilful in the area of tax audit.

The tax audit personnel are not adequate and equipped with necessary working
materials.
Suggestions:

After the completion of the study, according to my opinion, there still exists a
possibility that biased approach can be adopted by many CA ‘s performing the tax
audits for the companies. Though, ICAI has laid many stringent and strict rules and
regulations for maintaining the ethics always and there has been heavy emphasis by
them on the authorized audit performance to give their judgments based on the facts
which are there in front of them and to their best knowledge without having any undue
influence of the particular clients for whom they are performing the audit.

Also, the data provided to the CA’s are given by the companies is not ensured that
there is no falsification of the facts mentioned hence, they need to perform internal
audits and the various kinds of audits which are not statutory in nature along with those
which are such as company audit. So that, when the financial statements reaches the
CA is ensured to be true in all sense.
The Relevant tax authority at all levels should improve the standard of tax audit
employed for effectiveness and efficiency.
Tax audit should aim at reducing more problems of tax evasion, tax avoidance and
other tax irregularities for standardization.
The scope of tax audit should be wider in such a way that will ensure proper
submission of accurate and current returns for proper computation.
The RTA should provide a policy to the public on the awareness of the importance of
tax payment and the effect of non-tax payment, so that the level of compliance would
be high and non-compliance will be low or even none.
The tax payers should have God fearing and submit the accurate returns of their
operation.
RTA should also provide a policy that would allow the tax payers to co-operate during
the period of tax audit and at the same time the tax payers should do their best toward
cooperating with the tax audit personnel during the period of the exercise.
RTA should also improve the standard of tax audit personnel so that they can highly
improve the level of tax compliance by the tax payers.
There should be effective sanctions by RTA over the non-compliance tax payers with
the tax rules and regulation.
Hence, it is advisable that in spite of indulging in falsifications of the facts, companies
should ensure that they bring forth the right facts and not involved in tax evasion
activities also.
BEHAVIORAL LEARNING FROM ORGANIZATION

Behavioral learning from are:

► COMMUNICATION
Good communication consists of many other different sub-skills,
from suitable patterns of body language and eye contact with the
ability to write clear and accurate response. Accurate listening and
the ability to follow instructions are especially important but are
often ignored or taken for granted. Many people simply do not pay
close attention to what others say or write and do not ask follow-up
questions to check their understanding. As a result, individuals act on
their own inaccurate assumptions and create inefficiencies and
frustrations at work. Communication training will help them
overcome these challenges.

► GOAL SETTING AND PLANNING

Anybody can wish for something to happen, but to accomplish
anything one must plan which surprisingly few people know how to
do. Planning requires setting concrete goals, identifying workable
action steps, and making a commitment to see the plan through.
Ever setting the primary goal can be difficult when multiple issue-s
are competing for attention. Effective planning requires arranging
problems by importance and delegation. It is impossible to do
everything at once, but if one focuses on the most important tasks
and ask for help, then can accomplish a lot.

► SELF-IMPROVEMENT
Life in the workplace should not enforce stagnation; there should be
a constant need or desire for improvement. Satisfaction leads to a
perception of repetition, which is the essential of a job perceived as
unchallenging."Embrace the journey of self-improvement; each small
step forward is a stride toward personal growth and fulfillment."
CONCLUSION

Agrawal Jain & Khemka Chartered Accountants is overall one of the

profits making and reputed firm. The organization since its very first
day is devoted to providing quality services. The detailed and through
review of work and clients trust shows the perfection with which it is
working.

In conclusion, my internship experience at Agrawal Jain & Khemka

has been both enriching and transformative. Through hands-on
involvement in financial syndication projects, I have not only honed
my analytical and communication skills but also gained invaluable
insights into the complexities of the accounting profession. The
guidance received from the seasoned professionals at the firm has
been instrumental, and I am grateful for the opportunities for
learning and growth. As I move forward, I carry with me not just
technical knowledge but also a deep appreciation for the
commitment to excellence that defines Agrawal Jain & Khemka. This
internship has undoubtedly laid a solid foundation for my future
endeavors in the dynamic field of chartered accountancy and finance.