Dear all
The audit done U/s. 44 AD i.e. the net income shown less than 8% . The provision of section 44 AD says that the books of accounts are get audited U/s. 44 AB.
Such audit is counted to the limit of 45 Tax audit or not?

How do we come to know the last date for application for Bank Audit?

From ICAI.org or will it be updated on other site?

Hi
I want to get clarification regarding allotment of bank branch statutory audit. After the holiday period, i got the statutory branch audit last year. Many banks asked for my availability and i chose one bank. I want to know whether the same bank will allot audit for the next year or else, will i get enquiry from all the banks

The circular on the ICWAI website regarding the revision in the cost audit fees , stated as approved by the council cost audit fees have been revised.Is it that the cost audit fees have been increased.and if not what is the present cost audit fees ? Can any one share the present schedule of cost audit fees

and the cost audit fees should be approved by the Ministry of Corporate affirs

In case of Private Limited Company whose manufacturing plant is under installation Stage & satisfying the Following Conditions as under:-
i) The Paid up Share capital & Reserves(being Share premium Account) as on 31.03.2011 is Rs.9 lacs & Rs.32 Lacs respectively.
ii) The outstanding Term Loan from Bank Balance is Rs.80.49 lacs.
iii) As the Plant is under Installation Stage hence the Turnover is NIL.

Now query is whether CARO is applicable to said company for the purposes of Statutory Audit Report.

may i know the exact difference between SA and AAS, in audit?
Which of these are crucial for ipcc (i.e, the SA or AAS)?

Can a statutary auditor provide other services like tax consultancy or management conslutancy including bank liasioning to a company. Can anybody make it clear citing any regulation of ICAI, if any.

sir one partnership concern is tax audit case for last 3 years, during yr 2010-11 it has converted to proprietorship concern, but both of it is tax audit u/s.44ab, but now whether proprietor ship is first year tax audit or it is continuos tax audit case

Dear Sir / Madam,

Case: Our client has deducted ESIC for the month of April & May 2011 in the month of jun 2011 due to delay in finalising appraisal process. Arrears were given in 7 june 2011 after deducting ESIC.
Employees whose Gross salary was upto 15000 per month in march 2011& according to the promotion / increment letters given to those employees their gross salary will be above 15000/- per month wef April 2011.
Please suggest whether deduction made for ESIC based on March 2011 salary for the month of April & May 2011 is correct or not

Hey All,

I have one query....

One Company has taken License with DGFT for which they have to do certain amount of Export in 3 years i.e. 36 Months, on which they have made import purchase on which custom duty payable is duty free.

now my query is that this company has not paid any custom duty till 31.03.2011 on import purchase and i am finalising audit of that company, so whether i have to pass any provision entry for future liability if that export obligation is not meet.