Whether payments made for property under construction based payment system whose possession are not received as on the reporting date should be classified as Investments under AS 13 or a Non Current Advance?
AS 13 defines- An investment property is an investment in land or buildings that
are not intended to be occupied substantially for use by, or in the
operations of, the investing enterprise.
and
Investments are assets held by an enterprise for earning income by
way of dividends, interest, and rentals, for capital appreciation, or for
other benefits to the investing enterprise.

Seeing the definition, any investment should be HELD or should be in POSSESSION to classify as an investment under AS-13.

But in substance, making payment for such investments is equally good to a procurement of a property. The value for the potential property which will be allotted increases in the same trend, had the money be invested on other ready to move properties. As the capital appreciation of the PAYMENT made is also increasing, the purpose of making payment is proved in favour of classifying them as investment.

I am getting confused about requirement of AS. Please suggest.

THERE IS STRICT PROVISION FOR FILLING OF 3CA/3CB AND 3CD BY DIGITAL SIGNATURE OF AUDITOR.

IN CASE OF AUDIT U/S 44AB IS CONDUCTED OF AN ASSESSE WHOSE T.O IS LESS THAN RS.100 LACS AND THE PROFIT IS LESS THAN 8% OF T.O.

IN THIS CASE IS THERE ANY PROVISIION FOR FILLING 3CA/3CB AND 3CD SEPARATELY BY THE AUDITOR THROUGH DIGITAL SIGNATURE.

IF YES , THAN HOW THE LIMIT OF 45 TAX AUDIT SHALL BE CONTROLLED BY THE ICAI.

PL CLEAR IT

what are the factors that lead to increase in gross profit and how does undervaluation of opening stock increase gross profit???

Is there any change in the Audit Report of Co-operative Housing Society? If yes, then please upload the revised version at the earliest.my mail id is deepakapoor14@gmail.com

I work so hard in audit . I refer urvish shah for audit ... Last time i got 42 marks .. I work hard in audit and got 25 only this time .. I am not able to find my faults ... Please suggest what the insitutite demands . ??? Please suggest referce book for audit ...

A Public Co. have given loan to its director Rs.-89,95,000.00 & Rs. 94,21,335 to another Limited company, in which directorsof the supra are interested in it & Rs. 65,495 to another Pvt. ltd. co. in which also directors of the supra are interested. So, what as an auditor we need to report in the CARO Report as per sec 301, 299 & 298 of the companies Act& as per Clause 3 & 5 of CARO

Plz send me the format of audit report u/s 44AD.
and give the details which require to be taken care while audit u/s 44AD

Respected Sir;
I am an article of second year and my principal has assigned me a work related to audit of credit risk mitigation of a MNC bank. Kindly help me earnestly to know what to do regarding this assignment
regards.

what are the effects,on grin late . Does it effect revenue leakage or just affect co. to co. policy

Dear Sir,

One of my assesses is engaged in tour & travel business. He is received commission more then 5 lac.

Kindly advise to me he is liable for audit u/s 44ab or not