a survey was held in partnership firm engagged in transportation service.during the survey assesing officer declared an income of 400000 and asked to pay tax on the same income for the F.Y.2010-2011.now while finalising the audit report what should be the accounting treatment of income declared on survey.the auditor does not want give the impact on cash or other asset.please give ur valuable suggestion for this problem and suggest appropriate way to record the transaction.

can u pls tel me Is there any concept called e1 sales? if yes what is its terms n conditions ?? is this exempted from VAT or CST ??

if a trader has turnover less than Rs. 60 lacs and showing net profit less than 8%, than he has to get audit his books from CA. Now whether that tax audit would be counted for the ceiling limit of 45 tax audits of CA?

Amount paid for purchase of a part of a machinery which is having a life of less then a year but costing Rs 30000/-. Will it be capitalize or not?? Please provide me case study with suggestion.

Dear Sir, TDS DEDUCTED & DEPOSITED INTO TAX DEPT A/C BUT NOT SUBMITTED AS PER FORMAT Q4 TDS EMPLOYEES SALARY DATA TILL TODAY FOR THE YR 2010-11. IF NOT SUBMITTING THE Q4 DATA EMPLOYEE WISE, WE CAN FACE ANY PROBLEM FROM IT DEPT.IS THERE ANY PENLATY FOR NON-SUBMISSION OF Q4.PLZZ INFORM ME DETAILED & LAST DATE TO SUBMIT.

thanks in advance

A PARTNER SHIP FIRM DOING ACTIVITY OF PURCHASE OF RM FROM OUT SIDE AND JOB WORK FROM OTHEROUT SIDE AND MAKE PLASTIC SPOON AS FINAL PRODUCT. IT'S TOTAL TURN OVER WAS 4400000/- PREVIOUS YEAR IS IT APPLICABLE FOR TAX AUDIT U/S 44AB?

Sir,

Please clarify that Audit done of concern which has shown profit below 8%. and also turnover is less than 60 lac. then

This audit assignment come whithin the limit of 45 tax audit or not ?

if not then please give link of institute guidelines.

Dear Colleagues

Kindly let me guide for following Point

· A Person having two different business both are of totally different nature
· In F.Y 2010-11 Both business recorded Turnover above ` 60 Lac (means both are under Audit)

My Queries are -

1. Whether there will be single Audit Report for both the businesses? because both businesses are operated by one & the same person so we have to file single ITR 4

2. If we prepared one single Audit Report for both business then in business code (under Annx I) whether we have to fill two business codes.

3. Whether we should prepare 2 Audit Report (Two 3CD & 3CB) and consolidate it while prepare Balance sheet of Proprietor & then file single Itr4

Awaiting your reply for the above & other related point of Audit

I aim to be master in audit and i need some good advice regarding the ways to know and learn the subject well.Right now I m in IPCC and this subject is totally new to me.Waiting for the best tips and guidelines.

GOOD EVENING SIR,
I WANT TO KNOW WHETHER AN AUDITOR CAN DIRECTLY SEEK THE EXTERNAL CONFIRMATION FROM THIRD PARTY OR HE WILL HAVE TO REQUEST THE CLINT TO CALL FOR THE EXTERNAL CONFIRMATION DIRECTLY TO BE SENT TO AUDITOR.
THANKYOU