Respected Experts,

currently m doing internal audit of a company...

my client Reimburse mobile bill of its employees after showing Bill, actual or limit which ever is lower..

m facing problem in employees having prepaid num how may i know there actual useage??

Please help its urgent..

Thanks in advance for your worthy suggestion

how should the interest subsidy on term loan received by a textile mill under Technology Upgradation Fund (TUF) be accounted ?

Please let me know th reply of following:

If a person books a expense of Rs.14000/- on 11.07.11, then of Rs.15000/- on 12.07.11, then of Rs.11000/- on 13.07.11 of the same party, the whole outstanding of Rs. 40000/- was paid on 22.07.11..then section 40A(3) will not apply....

Please tell if i am right or not???

Dear Experts
I would like to know the implication if one Company is disposing hazardous scarp more than standard as per Tamilnadu pollution control board.and under which section


Regards
Bikram Jena

What Is deferred tax asset and deferred Liability???
How it is calculated????

Hello Sir.......

Sir, under clause 8 of part-1 of schedule-1, it is stated that before u accept the bank audit as current auditor you have to communicate with previous auditor. Suppose, u get the confirmation on 29th march that u have got one bank audit and u don't have enough time to communicate with previous auditor.

And u accept that work on conditional acceptance that if no objection was put by previous auditor then we will continue your work yet we are starting this audit work now as there is less time available.

but the previous auditor put an objection on your appointment or work then u will not continue your bank audit work and leave that bank's branch as unaudited.Because of that, the central statutory auditor(head office auditor of bank) will not be able to form final audit report as the audit of ur branch has not be done and audit report is not send.

In this case, who is ultimately responsible for the consequence or final audit report and ur branch audit and held guilty for the same?

we are auditing in one company.this company issue the invoice in next month. means feb invoice issued in the month of march and payment received in the month of april.my query is that whether i booked a invoice for the month of feb and march in the current period or not and what about TDS and Service on this bill.

Kindly let me know the scale of audit fees payable for the statutory audit of co-opertive banks in maharashtra state.The allotment is received from the office of Commissioner of Cooperation,Maharashtra.

hello experts,,
please let me know what happens practically,
we all are aware that employer's cont, to P.f.etc is allowed if the same is deposited by the duedate of furnishing ROI, but the EMPLOYEE'S cont, should be deposited by the employer upto the due date of RELEVANT ACTS (i,e, PF Act, ESI Act).i.e. 15th of next month,(20th, or 21st of the following month including the grace period as suggested by the guidance note on TAX Audit by ICAI).
& if the EMPLOYEE'S cont, has not been deposited by the employer by the said date(i.e.20 or 21 of next month ), then no deduction is allowable to the employer u/s 36(1)(va) of the IT act. it will be the income of the employer U/S 2(22)(x).

now please tell me, since there is a contradicting judgement of the delhi high court (2010) in case of AIMIL LIMITED, which advocates that the employees cont shall be allowed to the employer if the same is also deposited by the due date of ROI furnishing..

but practically what happens that every company delays by one or two days,,then, wud it really be the income of the employer if he fails to deposit the employees cont by the due date of the relevant acts.

I want to know what is to be done practically..

please explain me in detail.

kind regdards-
abhiram
09268382789.

According to section 269ss and 269T loan or deposit taken or repaid over and above 20000/- rs. should not be made otherwise account payee cheque or DD. My question is whether loan repaid below the specified limit requires reporting under 3CD? If one party has made repayment of rs. 7500/- during previous year, should it be reported in 3cd??? Similary in case of 269SS, whether loan taken below rs.20000/- should be reported???