In Which Section Statutory Audit is Compulsory as per companies act, 1956???

Is it Compulsory for every Private and Public limited compay...

If it is compulsory, then what is the reason behind it..???

is dis a good practice to deposit the cheque of big amount directly to director account and then transfer it to co. a/c for d purpose of internal checks.
wat can b the possible benefit or loss by following above procedure to co.
rpy urgently....

Hello,

I already got my membership no. & also hold COP but my partnership registration is under process so Can i do tax audit in my individual capacity even if I don't have firm registration no.


Thanxs in advance.

I'm finalizing the BalanceSheet and P & L a/c for period ended 31.03.12 of my small business. But , I am facing the problem there is one Sundry Creditors balance are in Debit (Minus). So, In which side of BalanceSheet I will put-up it. kindly advise with explanation. Should I considered it Debtors or shown on liability side in minus position.

Hi friends,

I am urgently in need of the latest auditors report format (preferably adapted to private Non profit organizations)- can someone help? Many thanks in advance

Regards,
Dheepa

whether income of trade/cash discount on purchase is added in sales while calculating 8% profit of turnover for the purpose of section 44AD.

CA Kusum Sorathia

what is due diligence? how is it useful ?

I have multiple query regarding valuation of closing stock for a manufacturing concern:

1. Does following will be considered for
valuation of closing Stock:
(i) Depreciation
(ii) VAT
(iii) Excise Duty


2. What is the procedure to Value Closing
Stock of Finished Goods & Raw Material?

3. Can any one please provide me format
for stock valuation?

Request to please reply in full & don't give half answere as it is more confusing.

Very Thanks in Advance for giving time & support.

If somebody has a poultry business.Turnover(2011-12) Rs.5800000.00 and net profit Rs.500000.00.In this situation,is Tax Audit mandatory?

My client has commision income under 194H of Rs. 23,00,000 (Working as sinior commision agent/member of Maitreya Plotters & Structures Pvt. Ltd. & he has many agents & sub-agent under him on whose buisines he gets such commision).....

He dont filled his ITR-4 till time for A.Y.11-12....whether he was required to do his Audit...?

Also he dont maintain any books....also due date is also expired for audit & ITR filling......So can any expert guide me of what to do...in such case.