can anyone please help me out in what aspects are to be considered when we are auditing advances against the deposits. and also what points to be considered when auditing the vehicle loans granted?

Hello,

A CA wants to audit a co-operative housing society in Mumbai, Maharashtra and have the following questions in this regard:

1) Under which act will the audit be done? Will be under Maharashtra Co-op Societies Act, 1960 or The Co-op Societies Act, 1912?

2) Which ITR form is used to file return of a co-op society?

3) Please also show me what is the audit format(like B/S, P/L etc.)

4) Any other fact that maybe important.

5) Can a person other than a CA audit a housing co-op society in Maharashtra? In some states, Govt does authorize some kind of officers to do so. So what is the law in Maharashtra?

Hi group, this query is with regard to Indian companies act . and pvt ltd cos incorporated under the same . A company incorporated as a Pvt Ltd company in September, 2009 has not filed its annual report , balance sheet & Income Tax return for the Fin. Year 2009-10 and 2010 -11 . they have filed it now on 31st march ,2012 What will be the penalty applicable to them to be paid by them for late filing of i) balance sheet and annual return ii) income tax return .

Chapter XII of CA Act regarding Minimum Audit fees is repealed from 07/06/2011.
Does this mean that the minimum Fees chapter would be applicable to Assignments before 07/06/2011 and not there after?

(Please google Amendments in Council Guidelines 2008 for notification as i am unable to open the pasted link here)

Or it would not apply to assignments even before 07/06/2011 ?

Thanks

Rohan

Dear All,

I have query regarding minimum Fees to be charged by CA. I have pasted the notification below.

All the members of Institute of Chartered Accountants of India (ICAI) are hereby informed that in terms of the Council decision taken at its 306th Meeting held on 7th - 8th June, 2011, the Chapter-XII (Minimum Audit Fee in respect of Audit) of the Council General Guidelines, 2008 appended to the ICAI publication titled “ The Chartered Accountants Act, 1949” has been repealed with effect from 7th June, 2011

Source:
(http://www.icai.org/new_post.html?post_id=7493&c_id=219)

My Queries are as follows.

1. Repealed means cancelled so will the notification 93/2006 (link provided below:please open the link as not suitable to paste the table)

http://wirc-icai.org/wirc_referencer/CA%20ACT%20&%20Regulations/CA%20Act%20&%20Regulations.htm

The page has small table showing minimum fees to be charged

also stand cancelled?

If it stands cancelled than w.e.f which date ? Will notification 93/2006 be applicable for assignments before 07/06/2011 and not there after.?

Thanks,

Rohan

A particular proprietorship firm has received a letter from a public sector branch for appointment as SBA and requiring the firm to reply as to whether it would be compliant with RBI rules. however the appointment is pending RBI approval. can the firm start the audit right away or can it do so only after approval by RBI.

What all documents are required (to be documented)in case of granting a loan...viz all types..term loan, CC, vehicle, housing..(like title deed, EC etc...pls give the list)

Anyone can explain about broken period encumbrance?

Hello

I want to know if any proprietorship firm converted to partnership firm(with 2 partner) on 10/04/2012 then whether both partner are eligible for audit of the companies and tax audit for the F.Y. 2011-12.
What are the ceiling limit of that firm,
Please reply soon. thanks in advacne

When does it become necessary to appoint an Auditor under the Companies Act 1956?