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

OUR CLIENT IS AUDITED U/S.44AB. THE AUDIT REPORT IS TO BE FILED BEFORE 30TH NOVEMBER, 2014. WE ARE GOING TO FILE INCOME TAX
RETURN WITH TAX AFTER 30TH NOVEMBER, 2014 (DUE DATE). THE REASON IS THE ASSESSEE IS IN FINANCIAL CRISES.

IS THERE ANY PENALTY REGARDING LATE FILING OF INCOME TAX RETURN AND PAYMENT OF INCOME TAX AFTER DUE DATE.

Dear All,

Is there any specific format available for Concurrent Audit report of FFMC?

If so can any one provide the same...

If not then plz provide me the specimen of any report!!

Thanks in Advance...

sir, if sole trader has done audit once,is it necessary to do books of accounts every year? and the sole trader has done audit in the last year and this year sole trader converted into partnership firm is it necessary to do audit this year also?if so what is the turnover limit

Read more at: https://www.caclubindia.com/experts/modify_message.asp?entry_id=912496

CA's have limit of 45 Audits, is this included with trust Audits i.e. 10B forms or not.

Pls reply urgently

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

Windows 8 purchased for Rs. 90,000 (qty-10) should be capitalised or treated as revenue expenditure? If capital then as per which AS?

One of our client is dealing in foreign exchange. The client engages in sale transaction (Selling of Foreign Exchange and Collection of INR)sometimes during the evening hours which is done on manual bill at his customer premises. Later on the transaction is recorded in the system on the next day.

In few cases, it has been noted that transaction happened on 30th September and client has booked the bill on 1st October.

Will it affect revenue recognition principle. In my opinion revenue should be booked in the month of September 2014. However client is insisting on October 2014.

Please suggest

Whether The Transaction of Mobile Phone Currency by a dealer has to be shown as turnover or only Commission has to be accounted as the Company deducting TDS U/S 194H,whether total turnover subject to Tax Audit or Only Commission has to be accounted.

if a assesse paid TDS after due date than the interest charge there on and paid by assesse is also deductable from profit and noted in 3CD...