sir;
How we do the stock valution of a big jeweller house in tax audit

Hi can anyone tell me what are the relevant standards on auditing which are applicable for Nov 2012 IPCC exam and for how much marks I can expect in exams?

hi;
how to do the stock valuation of a jeweller during tax audit

excise duty is manufacturing tax and vat and cst is a sales tax. while calculating vat and cst we are including excise duty as per vat rules it leads to double taxation is is it correct or not? if is correct how it is correct? if it is not correct? how it is not correct how it is not correct? please give me some examples also

i am on audit of a pvt. ltd company where by the company had issued 3000 shares of face value 10 totaling Rs.30,000
the person who bought the share was taken in as a director !
he paid in total 24lakhs for these shares !!!
shall it be accounted as below : ???
rs 30000 - share capital
rs 23,70,000 - sec. premium ?
and is there a need 2 deposit the premium amount in some certain separate bank ac ??
or can the company use the premium on day to day business ???

if not,what shall be the accounting entry for these shares ?
show shall i audit the above transactions ???????????

any turnover limit for shedule vi

Dear Sir,

If suppose we have issued a cheque to a company for their services which they have rendered to us & we as a company only deduct TDS, however, while giving the cheque to them we do not deduct the TDS but give them the entire pmt. Now suppose they have another pmt which we need to give them after 2 months, so can we deduct the TDS now for the 1st pmt + 2nd pmt that we are making???

Will there be any interest charged to us for not charging them TDS on their 1st pmt??

Say suppose we have not even entered the entry in Tally as well, when we made the 1st pmt, will we still be paying interest??

How much is the interest rate for making late pmt of TDS?

Where any amount withrawn from the special account is not utilised for the specified purposes within the same year or is misutilised as per section 33AB of income tax act, 1961. If so, report the amount of such deemed profits under clause 19 of Form No.3CD.

Why report under clause19? there is no deeming provision. if misutilised then it will be taxable so much amount misutilised. when there is a specified amount then why clause 19 reporting?

Thanks

This is the first time we are preparing audit report as per new requirement of sch VI ,
Is it compulsary to provide the same figures for last year also i.e cash flow for last year also should be provided in audit report.

Dear all members

I want to ask that if a company gives advance of Rs. 100000/- to his employee through cheque & after 30 days his employee( from fund received) paid in cash of Rs. 65230 to a transporter, then whether it should be considered as allowed expenditure or not.