Dear Everyone,

We have a partnership business (manufacturing) in Mumbai. We were under impression that Turnover threshold for Tax audit has been raised from 60Lacs to 1Cr. In financial year 12-13 we did sales of 62Lacs.

But our CA has informed us that we will have to do sales tax audit as its threshold is 60Lacs. Only income tax audit limit is 1Cr.

We are confused. Do we have to get sales tax audit done ?

if a firm take any auditor ship of the company then can partner wife take the retainership for book keeping or not

Hello sir,,

I am getting a job in a bank for concuraudit purpose I dont have any idea about this

Please send me the process & how it works I dont know tally is tally necessary in concur audit... Please do let me know as soon as possible

Hi.,

I would like to know .. Is it Physical Stock Verification Audit is it Part of Accounting Standard 2 in Public Limited Company, If Management is Following All the norm & Application.

Kindly verify.

regards in Advance,
Prashant

CA is appointed as auditor in a company in which his partner or wife is having substantial interest.
Can he express his opinion on such financial statement by disclosing his interest in his report? or he is totally not allowed to express his opinion?

IN THE REAL AUDITS DOES THE AUDITOR SENDS CONFIRMATION LETTERS TO DEBTORS

IF SO, IF THE DEBTOR DOESNT RESPONDS WHAT HE SHOULD DO?

PLEASE EXPLAIN IT

THANKS EVERYONE

Hi I am doing the audit of a construction company. They are buying river sand from different people ( It is coming under 'unregistered purchase' ). Almost all of them were cash payments and some exceeded 20,000 also. The yearly payments to all of them run to Lakhs of rupees.

The suppliers wont supply us any bill (Local people) and not having PAN.

Should we deduct TDS for payments to such people or such purchases attracts any other tax ? If any other treatments is there kindly let me know.

Kindly reply

Dear Experts,
Petty Cash balance verification this query is unaswered for a long time...
Very urgent....ur guidance is highly appreciated....
Tomorrow i have to verify the petty cash balance, please specify me...how i have to verify the cash balance....
Thanks & Regards,
Rajesh.

Dear Sir, please clarify the following situation relating to applicability of Tax Audit:
1.Turnover for P.Y. 2012-13 is 75 Lakh, and net profit for the year amounts to Rs. 2.25 lakh, all the books as per sec 44AA are maintained will there be requirement to get the Accounts audited?

2. what will be the situation if the same person get his accounts audited for P.Y. 2011-12 due to his turnover of 65 lakh. will he be required to get his accounts audited for P.Y. 2012-13 if his turnover is 75 Lakh?

Dear Sir,

as per new amendment,
Only a CA with 3 years of audit experiance of society audit can audit a Society.

Is this amendment also aplicable for Audit of Housing Society.

I have just started my CA practice,
so this means I will not be eligible for Housing Society Audit.

Sir Please Guide me, as I have been aproched by a housing society for audit.