A proprietorship business is converted into partnership business in 1.10.2011.Assuming financial year 2011-12.

How an auditor should certify the financial reporting period in both cases, If in both situation same auditor is appointed ?

IS THERE ANY EXTENTION OF TAX AUDIT DUE DATE FOR A.Y.2011-12

The Company sold goods to its dealer on valid orders received from the dealer. However subsequently the the few dealers returned these goods to the company. To maintain the relations with dealers company accepted the goods, however did investigation against the sales team to find out whether the sale was "Forced sale or not". Nothing could be found in the investigation. The company informed about the investigation and its results to the auditors
The auditors construed this as a fraudulent activity and reported as such in the CARO reporting.
Is it right to report this as a fraudulent activity.

what should be the answer pattern one should use-should it be in points or paragraphs? plz suggest important points i should take note of to score good marks in this paper of audit?

SIR/MADAM

I WANT TO KNOW IF I CANT SUBMIT AUDIT RIPORT ON TODAY 30-09-2011 FOR FY 2010-11
WHAT IS THE PROVISION OF PENALTY OF INTEREST

IN A PARTNERSHIP FIRM IN WHICH HUF IS ONE OF THE PARTNER.
CAN THAT FIRM GIVE REMUNARATION TO HUF?
IF YES,
WHETHER IT IS TAKEN AS INCOME OF HUF
OR
INCOME OF KARTA?

CASE :
ONE OF OUR CLIENT IS A PARTNERSHIP FIRM WHICH HAS DISCONTINUED ITS BUSINESS BEFORE 3 YEARS BUT STILL HAS NOT DISOLVED THE FIRM.
NOW THE FIRM IS HAVING ONE HOUSE PROPERTY WHICH IT HAS GIVEN ON RENT AND IT GENERATES RENT INCOME.

MY QUESTION IS WHERE THIS INCOME SHOULD BE SHOWN
1) IN HOUSE PROPERTY
OR
2) BUSINESS INCOME
OR
3) OTHER SOURCES?

X & CO, a firm of chartered accountants has done the tax audit for the year 31.3.2010 for a public limited company. Though there is no formal appointment letter from the company. For the year ended 31.3.2011 there was also no formal appointment letter from the company to carry out the tax audit. Now X & Co., has receieved a letter from a firm of chartered accountant asking for No Objection from X & CO., to carry out the tax audit for the year ended 31.3.2011.
Is it justified for X & Co., to issue such NOC to the present Tax auditor appointed for the year ended 31.3.2011, where there is no formal appointment letter from the public limited company.

one assessee is involved in devloping business, his wip for the year end 31.3.2011 is above Rs.60 lakhs,
whether tax audit liable
pls tell urgently

Hi,
I want to know the process of HR audit.