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06 March 2021 at 11:28

15 months audit

Hi,

Can a statutory auditor conduct audit for 15 month period at the request of client. If so what are the tax & legal consequences??
Generally everytime we conduct audit for accounting year of 12m April to March.
This assignment is in addition to it.


05 March 2021 at 15:01

Invoicing

Good After noon All,
Please suggest that, Security deposit given should be mentioned in Tax invoice also or should be return separately ??


04 March 2021 at 22:49

PF Trust Audit

Hi Everyone,
Kindly share the check list and draft Report of Third party audit of PF Trust .

ThanQs in advance.


Hi,

For an Indian Private Limited Company, if you have appointed an auditor, can that same auditor give services like GST payment/Return filing and TDS payments/Return Filing etc? Does law restricts that?

Regards

Manasi


A Individual is having Turnover of Rs 60,00,000/- during FY 2019-20 And profit of Rs 180000/- (during FY 2018-19 he has filed ITR3) whether he required to get his books of accounts audited ?


05 February 2021 at 17:36

Digital signature

Dear All
I have a doubt, Instead of physical signature on annual accounts, is it permissable to sign the same with digital signature?


05 February 2021 at 12:00

ESI & PF

I have a Building Construction Company and i give construction for contractors who will recruit the daily wage workers and the daily wage workers are not constant throughout year .
Is ESI & PF is applicable ? if Yes ,
Who is liable to Deduct "Building Construction Company" Or "Contractors"

Thanks in Advance.


05 February 2021 at 11:15

Recognition of income accrual

-Contract contains rate escalation Clause which is calculated and paid in next reporting period.
- historically rate escalation is recognized when paid
-policy changed from current reporting period and income is accrued based on robust estimation
-this results in income recognition of previous period and current period in same year
- auditor is challenging this and insist on resatatement of previous period
-we argue that this is change in estimates and no need to restate previous year account
Pls. advise


04 February 2021 at 11:23

Tax

From which Assessment year new threshold limit for Tax audit of 10Cr is applicable?


01 February 2021 at 14:44

DEPRICIATION OF CAR

DEAR SIR

WE SOLD ONE CAR IN THE MONTH OF OCT 2020 , WE ARE RUNNING A PRIVATE LIMITED COMPANY , PLEASE LET ME KNOW HOW TO CALCULATE DEPRICIATION WITH EXAMPLE.


THANK YOU

MUKESH KUMAR