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

A person is disqualified from being appointed as auditor of a company if he was disqualified from being appointed as aduitor of its holding or subsidary or the subisidary of that comapny's holding company......is the disqualification mentioned u/s.226 of companies act.

Now it is apparent that if a person is disqualified from being appointed as auditor of a company, he is also disqualified from being appointed as auditor of that comapnies subsidary, but for the subsidary of its subsidary.

For example...... A is subsidary of B. C is subsidary of A.Now if a person was disqualied from being appointed as auditor of B.Then he is also disqualified from bein appointed as auditor of A but not C.

Am i correct???????????????

Pls help:

Mr.X is a director of a company. the company has 2 directors (himself and his wife). its a fake company and has a cash balance of rs. 35 lakhs. also has a balance in loan (liability)in his name of rs. 50 lakhs. His personal a/c has a negative cash balane of rs. 20 lakhs.

can he transfer cash from company to his personal a/c?

what else he can do?

pls suggest some opinion?

Can anyone provide me with detail info regarding Tax Audit.. Also i wanna know which sections to refer while doing that...
And if possible please give me a checklist of it...

if a private limited company receives the invoices pertaining to expenses of previous year in current year; will it be allowable in the current year or is it disallowed and reported in 3cd report

Is it necessary to deduct TDS in current year if TDS has been deducted last year......

also tell me weather TDS has to be deducted for payment to private electricity distributors....

Whether it is mandatory to do communication with the previous tax auditors to obtain NOC from previous auditors.
If NOC not received from previous auditor, then what will be the effects.

Please help me out

Dear Experts,

I need ur valuable comments in regard to following situation.
Situation:
Mr. A, a director of M/S KBC Pvt Ltd.(Company-A) as well as M/S Rocklet Pvt Ltd.(Company - B). Company B had made default u/s 274(1)(g). Since Mr.A is not the director in any other public company, then whether auditor can withdraw point (f) under section 227(3)from his audit report which is need not to be reported.

Regards
Balram Pandey.

What document should be complied in the case of interstate purchase?

Is there a book available on internal control of various transaction such as purchase,sales,stock keeping ,transporating,conveyance,export,import