Wether tax audit is applicable where commission income exceeds rs.11lacs as same can be considered income from profession.

If company has noncancellable lease agreement for 2 years. Lease rent for the first year is say 2 Lacs. And lease rent for next 1 year is say 4 Lac. Now as a normal prectice in the first year charge 2 P/L is 2 Lacs and second year is charge to P/L is 4 Lacs. However AS-19 requires lease rent to be charged on SLM over the lease period except it can be shown that benefit received in the later year is higher. So as per AS-19 charge to P/L should be 3 Lacs and second year also it should be 3 Lacs. Is this correct. If charge 2 P/L is as per agreement then how 2 justify

sir,
1.what is the latest amendment on the maximum number of audits by an auditor as per section 224 (1B).

2.what is the maximum amount of salary of a relative of a director or officer, for which approval of central Govt. and special resolution required as per section 314

Please sugeest good book

is there any software to make balancesheet & audit report for a company

pradeep(manjublouse

is there any software to make balancesheet & audit report for a company

pradeep(manjublouse)

A Pvt. Ltd. Company is providing software development consultancy services. During the financial year 06-07, the gross business receipts were around Rs. 24 lacs. Whether company is liable to tax audit u/s. 44AB of the Income Tax Act, 1961? Which limit would be applicable to it for tax audit - Rs. 40.00 lacs or Rs. 10.00 lacs?
Please give urgent reply.

As per AS 2 stock will be valued on purchase cost excluding VAT but AS per Sect 145A of income tax act 1961 valution of stock will be inclusive of all taxes cess etc.
In the current position in audit report what value of stock will be show exclusive of VAT or Inclusive of VAT.

I would like to know

Is there any Book for the mentioned subject which contain the Questions & Answers only?

i have joined the ca firm whose mostly audit are of ABC & NGO. whether i can get here the exposure of work .
most of students tell that there is no scope . i m trouble. please tell me about it whether this firm is good or not