Binod Kumar Banka
16 September 2023 at 11:29

Non complaince of AS-15

is it necesarry to qualify non compliance even in non corporate assessee or tax audit reportalso .if yes then how quantification will be done because qualification without quantification has no value


Vijai Bagaria
14 September 2023 at 17:11

Schedule IXD od BPT Act

Is it required to fill a form SCHEDULE IX-D, If the Trust doesn't have Registration No. u/s 12AA of Income Tax Act (43 of 1961)..??

Read more at: https://www.caclubindia.com/experts/details.asp?mod_id=2765349


DEVI SINGH PARIHAR
11 September 2023 at 10:11

Clause 44 Reporting and comment

Employer contribution to P.F. and E.S.I. and GST Composition tax debited to Profit & Loss Account are require to report in clause 44 and if yes then in which colunm require to report and what observation/comment should make in Form 3CD regarding clause 44. pls reply


vitthal Bissa

One assessee in previous year audit done under 44ab(1) and in current year turnover below 1 crore and incurred loss then Under which provision the audit is to be done ?
May audit done under Clause 44AB(e)- When provisions of section 44AD(4) are applicable or any other provision .

Kindly guide


praveen
07 September 2023 at 13:05

Statutory Audit Requirement_FY 2022-23

If a company is formed on 22/03/2023 and does not have any transactions, is statutory audit required under Companies Act, 2023 for FY 20222-23 ?


AMANDEEP
06 September 2023 at 18:59

SOCIETY GRANTS

A society having 80G & 10AC(12A) worked for a training project in hills sponsored by Govt of Uttarakhand.
The work was completed in FY 22-23 & bills submitted to govt in March 23.
The State Govt booked the bills in FY 23-24 Cleared the Bills in FY 23-24.
The expenses were payable by 31.03.2023 & paid after receipt in May 23.

How do we treat the receipts in I/E account for the FY 22-23


Hemkumar
02 September 2023 at 08:15

TAX AUDIT REPORTING U/S 269SS AND 269T

Whether addition in unsecured loan amount due to credit of interest and deduction due to TDS deduction need to be reported U/s 269SS and 269T, as acceptance of loan and repayment of loan


Rajesh

Hi,
A partnership firm is registered with 2 partners and one partner dies in March 2021 , but the firm continues its business activities till date and files his GST and Income Tax return in Firm status. As one of the two partners dies, the firm should be dissolved as the number of partners after death is below 2.
This year the turnover is above 2 crore and its liable for 44AB audit. Please advice whether an auditor can accept the engagement and if yes, what audit qualification has to be put on the audit report and other matters also.


N Das
31 August 2023 at 17:58

Audit liability and adjustment of TDS

Sir, my first question is can I do audit for last two years ? If yes, then I want to file previous two year i.e. AY 2021-22 and 2022-23. But I have to do tax audit as my turnover is exceed the limit. My 2nd question is that can I adjust my TDS with tax liability in this two corresponding years ? (Exmp: TDS rs.35000/- +Self assement tax rs. 15000/- where total Tax liability Rs.50000/- ) Sir please help on this.


CA Abhishek Singh

Hello everyone,
following details are available as on 31.03.23

Cl wdv as per books : 100 cr
cl wdv as per IT acr : 92 cr

applicable tax rate : 25%. Assuming no other timing diff other than depreciation

i am stuck in computation of closing deferred tax asset/liablity

my understanding is since co has claimed higher depreciation and paid less tax going forward tax liability is going to be higher so direct tax liablity shall be created

closing value of DTL = 8 cr * 25% =2 cr

2cr should appear in balance sheet after adjusting opening balance

is my understanding correct ??