Airport Authority of India invites tender for concurrent audit for FY 2024-25

Airport Authority of India has issued tender for engagement of auditor for conducting concurrent Audit For Bhopal Airport for FY 2024-25

Airport Authority of India (AAI) has invited tender for concurrent audit of Bhopal Airport for FY 2024-25. Audit is to be carried out by the CA firm for systematic examination of all financial transactions and related documents to ensure the accuracy and compliance with the Audit system, procedures and guidelines of AAI, CAG and other Statutory Authorities.

Audit has to be carried out in respect of following Airport/Region of AAI.

1. Engineering Department

2. Operations Department

3. ATC/ANS/CNS Department

4. Technical Department

5. IT Department

6. Commercial Department

7. Land Management Department

8. Finance Department

9. Legal Department

10. HR/Admin Department

11. Security Department

The scope of audit is broadly divided as under:

1. Traffic Revenue

1.1 Raising of bills in respect of airlines

1.2 Raising of Interest Bills for delay in Payment

1.3 Reconciliation of TDS (Revenue)

1.4 Outstanding dues and security deposit (TRAFFIC)

1.5 Credit facility provided to casual & Scheduled operator’s vis-a-vis the credit policy scheduled of AAI

2. Non Traffic Revenue

2.1 Raising of bills in respect of concessionaires/lessees etc

2.2 Scrutiny of Commercial/Land/ Operation Contracts

2.3 Outstanding dues.

2.4 Space/land Audit (Commercial & Land)

2.5 Extension of contract

3. Scrutiny of contracts Award of Engineering & Other Contracts by various Directorates i.e. Engineering, Planning, Operations, CNS, Technical, IT, CRSD, RCDU, FIU, BDU etc. 4. Processing and Payment of Bills

4. Assets

5. Bank and Cash

6. Review of Trial Balance, Ledgers and Subsidiary Records

7. Taxation

8. Tariff (Applicable for CHQ Tender)

9. Land Management

10. Legal and Arbitration

11. Observation of Govt. Audit/Internal Audit/Independent Auditor/Independent Engineers/Transaction Advisors

12. HR/Admin Department

Important Dates are as under:

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• AO took a reasonable stand that 25 kg written in WhatsApp chat was 25 lakh – ITAT
• Shareholders can’t be taxed for income from properties owned by the company – HC
• Jurisdictional error in reassessment approval can’t be shielded by the law of limitation
• ITAT ought to remanded whole matter of bogus purchases instead of profit determination
• Where proceedings u/s 153C barred by limitation, AO can’t invoke section 148 & 148A