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....

sir, i lack writing skills and loose marks.this may am to appear for itsm and audit exams.could you please provide solution to my problem.

Can any one provide me format of audit report of a Society, engaged in promotion of art & culture, not registered with income tax for availing 80G benefit, and wihich IT form will be used for filing IT Return

Already posted for the experts to reply but i did not got any reply thats why again posting today.
Respected Experts,
Inventory consists of
(a) Raw Material
(b) Work - in progress
(c) Finished Goods.

Suppose if on year 1 the closing raw material is Rs.100 closing work in progress 200 and closing finished goods is 300

and at the end of year 2 the closing raw material is Rs. 80 , closing work in progress is 250 and closing finished goods is 430.
My doubts are

1) How it has to be shown in the credit side of the Trading & P&L a/c for the year ended 2 and also in the balance sheet?
2) I have seen in many financial statements it is shown with brack some times without bracket sometimes. What does this mean?
3) If inventory is more than the year one whether we should add or less it?
4) If inventory is more than the previous year means whether it is income or expense?

Please clarify me regarding the same. Thanks for all the experts who are so generous to share their expertise with me.
With regards,
Rajesh.