WEATHER THERE IS ANY TDS LIABILITY IN CASE OF CONTINUES AUDIT OF PROPRIETORSHIP FIRM (INDIVIDUAL) FROM LAST THREE YEAR U/S 44AD/ AF .AS PER SECTION 194 C (ON TDS) WHICH READS AS THE LIABILITY OF TDS IS ONLY IN CASE OF CLAUSE (a) OR (b) OF SECTION 44 AB OF THE INCOME TAX ACT 1961. AND THE ABOVE AUDIT U/S 44 AD/AF IS COVERED BY CLAUSE (d) OF THE SECTION 44 AB.

What are the conditions of Applicability of MAOCARO?

R/member
please clarify that whether interest credited to unsecured loan account is required to be shown in annexure of loan or deposit to audit report 3 cd.
and which amoun =t is to be shown in column maximum amount outstanding

is dere me new amends in SA and audit vol 1 part in pcc level

If there are three partners, Two are contributing their capital in the partnersip, however third one is providing the services and taking his salary. IS third is entitled to profit/loss.

Hi I am siva
I wish to know that, a person doing two difference business having turnover of Rs.2850000 and Rs.3545800 respectively. Whether Tax Audit is applicable.

If a person having professional income as well as business income and aggregate turnover is above 60lakhs, which come under Tax Audit.

whether car can be purchased in name of partner in case of partnership firm.reply with reason

hi,
There is a client having debtor by name (say Raju) since more than 3 years and during audit,the auditor has sent a letter to the said debtor and the same is confirmed by him.
a) In the given case can auditor still show the amount as debtors in the B/S irrespective of the fact that the balance is confirmed by the debtor?(because the amount is due for > 3years and governed by limitation Act)

In case of PARTNERSHIP FIRM, how to calculate the NP Ratio in Clase 32 of 3CD Report????

Whether NP to be consider without deducting the Interest on partners Capital A/c & Remuneration to partners?

or after deducting it?

Please reply with suitable guidance note/rule.

Very thanks in advance

During the financial year 2010 - 2011 , one partnership firm have purchased the plots / land for development of residential and commercial complexes.the amount required for purchase of plots/ land was fully contributed by the partners as their capital, as at 31/03/2011 and is more than 60 lacs, there is no other activity during the year.the plots/ land is shown as stock in hand for development.
whether Tax Audit U/S 44 AB will be applicable for the financial year 2010-11