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.

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.

Sir,
whether audit u/s 44AD will be counted in the tax audit limit of 45 which is for each practicing ca?

I have recently begun my ca firm. Which bok should i read for tax audit u/s 44AB. Will the guidance note on audit u/s 44AB by ICAI suffice?????

A Businessman is showing profit of more than 8%. But, he is filing the ITR U/s 44AD.

My Query is : Is it mandatory for him to get his financials audited, for the reason that he is declaring a Profit of more than 8%? And, What is the procedure of maintaining the Books of Accounts U/s 44AD?

sir my name is kumar.my doubt is what is tax audit?will you give brief explain about tax audit?

DearExperts,

My client deducteid TDS u\s 194C rather that 194J..

Wht is ethe remedy he could take now.....
1) CAn ihe adjust the same in next bill
2) or is there any option open to him
3) What arelegal consequences in this regard....