Principal Chief Controller of Accounts, Central Board of Direct Taxes has been assigned the duties of conducting Internal Audit of the expenditure incurred by the Offices of the Income Tax Department spread throughout the country. It also conducts audit of the P.D. accounts opened/ maintained by various CsIT. Besides, it is also entrusted with the responsibility of conducting the audit of taxes (Revenue) collected under various heads by the Receiving and Nodal Branches of the Agency Banks and the amount of agency commission claimed by them.
The functions of Internal Audit includes preparation of Annual Forecast, Audit programmesof various Income Tax Offices and banks authorized for CBDT Collection,Preparation and vetting of Internal Audit Reports and preparation of Quarterly Reviewand Annual Review.
Internal Audit is to watch over the implementation of the prescribed procedures and guidelines /orders issued from time to time with a view to ensuring they are correct and adequate andfree from any defect. Further, Internal Audit exercises the check on receipts and payments and accounting work.Internal Audit advises and guides auditee offices in maintaining the records as per codal provisions.