no of tax audit that an individual chartered accountant can do when he is also a partner in a C A firm that consists 3 member

The Company is into Construction ( service Industry)
Example Case During FY 2013-13

Revenue billed to Contractor - 1000 Rs.

Work Certified by Contractor - 800 Rs.

Debit note raised by Contractor - 50 Rs.

Revenue as per POC - 900 Rs. (Hence revenue recognised in PL should be 900 and 100 should be shown as Billing in excess of revenue?)

Now my query is -
my Book shows debtor of 1000.
But debtor has confirmed 750 (800 revenue and less 50 debit note)
So what is the accounting treatment for the difference of 250 between the books and statement by debtors.

Totally confused. Appreciate quick response

Hi

For one assessee can 2 3cd be uploaded by 2 different CA's and file one income tax return? For example if an assessee has two concerns audited by different 2 auditors can 2 auditor upload 2 3CD but file 1 IT return in name of assessee.....If yes kindly provide the source..

Thanks in aticipation

wether for ipcc may 2015 attempt section 139 to 148 is applicable.

I am a director of private limited company,we have audited our financial balance sheet and income tax return has been filled for the year 2013-14,and now i have found that i missed to show some sale data to the auditor and in the balance sheet.
So now is it possible to revised the audited report and returns.

Last date for the audited report is 30th nov 2014 now but already audited my accounts once.

so please guide me.

I have checked overdue statement in which there are parties whose overdue is more than 3 months.. theoretically these accounts are NPA... but in system their status is shown as 'standard'. when asking loan officer he said that system review parties on quarterly intervals.. It means in October if an account has overdue more than 3 months system will not call it NPA.. kindly suggest??

hi everyone

i started share trading with investment of 20k only, but my daily sale and purchase is around 8-10 lacs. i want to know nature of my trading and is there tax audit is required in this case if my sale and purchase exceeds 1cr

A company raised bills on work done (actually done or not). Then what is the procedure to verify that bill.

2. if Company received that bills amount then we can check the with bank statement. if TDS has not been filled by the company then is there any way to check online TDS receivable form for which the party has deducted and and deposited in the respective department.

If the assessee declares his income lower than the deemed profits u/s. 44AD then he will have to maintain books of accounts and get these accounts audited IF HIS TOTAL INCOME EXCEEDS THE EXEMPTION LIMIT.

In such cases assessee having turnover less than one crore may manipulate his books of accounts and declare his income as low as possible (below 8%) so that his total income works out below exemption limit and thus he can escape the tax audit which I suppose is not the intention of the legislature.

Kindly resolve the query.

Hi,

A pvt. Ltd company had taken loan from its Shareholder. They issued a cheque to the shareholder for repayment of loan on 31/03/2014. The cheque had not been deposited by the shareholder till 3/9/2014. It has now been cleared by fresh issue and deposit of freshly issued cheque. Does this require any qualification for 2013-14 audit report