What are the various cost records to be maintained by a construction company?

Dear Sir / Ma'am,

We are a Pvt Ltd. movie production company and we hire various studio's for shoots. Do i need to deduct TDS of 10% or 2% in this situation?

2. Also we do sumtimes shoot outdoors where we stay in hotels, shud i deduct TDS there as well? How much wud tht be? 10% or 2%..

Can anyone please tell me whether the AS-18 is applicable on a non listed COMPANY having less than:

(i) Rs. 2 crores of turnover
(ii)Rs. 3 crores of borrowings

And whether AS-18 disclosures are to be made in notes to account of such company?

pvt ltd co. paid rent every month rs.22500 from last nov-2011 last f.y we did not deduct tds on rent but now this year tds is applicable but our landlord told me he is not liable for tds as per agreement total rent amount 1st apirl 12 to oct 12 rs.157500 , he told me you will be deduct tds after oct or over limit 180000/- is it possible or not?

I got this naggindg doubt owing to some info I got from colleagues that last year, the restriction on audit of related concerns has been tightened.
My query is:
"Can a CA do the audit of his near relative's accounts for 2012-13 asst.? I am quite aware that a note is required highlighting the fact of relationship. My question is on the specific situation where the Auditor has absolutely no stake in the Auditee's business, which is a proprietorship concern. Please clarify.

Dear experts,

Kindly explain the audit of Cash and bank balances in detail?

Also explain the cut-off procedures in respect of bank balances?

I require a sample Balance Sheet, P&L A/C and Notes in complete as per the Revised Schedule VI in excel format so that I can use the same to prepare the financial statements as per the current requirement. Mail ID: mittalnikesh@yahoo.co.in

Hi

Our parent company in abroad send us few machinery and spares free of cost for manufacture of goods. That goods in turn sold to them and also to few third parties.

As part of documentation an agreement has been entered with the parent company stating that they are owner of the asset and we need to maintain in good condition and use it for intended purpose. NO consideration is involved.

In my books of accounts there wont be any addition as such since we are not owner and no outflow since no consideration is paid. The same is not even in updated in FAR. We just have a record of assets / spares received for control purpose.

Do we need to do any thing else? Is there any statutory requirement need to be fulfilled? Will it be a lease as per AS-19??

Kindly give your views / comments asap.

rgds
VS

Hi

We purchase spares for machinery which have a life of more than a year say 2 or 3. The cost is very high. So we are planning to write off the cost of spare over a period of 2 or 3 years. Note the same is not a inventory as the same is put to use immediately.

Whether such accounting policy is proper? Is there any risk implication?

Kindly suggest your view in this regard.

Rgds
VS

Respected Experts,
If a CA has done statutory audit of a Pvt. Ltd. company under Companies Act, then is it necessary to conduct Audit again u/s. 44AB of Income Tax Act or Statutory audit report can be produced?