sirs, i have cleared second group in my first try,,and seeing auditing for the first time.. i have already done company audits,professional ethics,SAs special audit.SOX and stock exchange audits from padhuka..for remaining m not capable to finissh in time otherwise i cnt revise properly..i m planning to do the remaining chapters from surbhi bansal and compilation taken togather..should i trust surabhi bansals book for scoring atleast 50 to 54 marks if i go for paduka nd surbhi togather as above?????plz reply me fast coz time constraints....?

Please Say me the meaning or Difference of ACT and Rule

Example : Income Tax Act and Income tax Rule


Thanks & Regards

DEAR SIR


PLEASE GIVE A LINK OF WEBSITE WERE WE CAN FIND EXPLANATION FOR THE FOLLOWING

1.OPEN MARKET OPERATIONS

2.LIQUIDITY ADJUSTMENT FACILITY

3.CBLO

as per IT,wt happen if cash balance goes to -VE in the books.

Wt will be the impact??? on assessee???

Pls reply nd explain the same.

sir pls provide me sa, guidance notes for audit n accounts in brief for may 11 exam. its urgent.......

I ANY PERSON LOST HIS INTIMATION HOW TO KNOW ABOUT THAT INTIMATION THAT WHETHER TAX IS PAYABLE OR NOT . WHERE CAN WE DOWNLOAD THAT?

Dear Sir

Can you tell me what is funded and non funded exposure with respect to banking companies?

Whether interest paid on late payment of Income Tax, VAT, Service tax etc amounts to fine/penalty. Whether it has to be reported in Tax audit report and if yes under which point.

Whether the above interest is allowable as business expenditure.

Can anyone explain me Deifference between the Divisible Profit & Distributable Profit.

QUESTION 1

A newly set up Private Company has incurred the following expenditure during construction period..Please classify as Capital or Revenue:

Sundry Expenses such as stationery , Printing, postage, telephone & local conveyance.

ANSWER IN PADUKA PUBLICATIONS

They constitute an expenditure indirectly which is indirectly related to construction & HENCE capitalized..

IS THIS CORRECT??

QUESTION 2

A minor fire occurred to a machinery cost of repairing is 5000/- estimated.
But company instead used new technology to replace burnt part with new part which will increase efficiency..total cost 50000/-

ANSWER IN PADUKA PUBLICATIONS

Entire 50000 should be capitalized.

I feel only 45000(50000-5000) should be capitalized.

Please assist.

Thank you


K R Srinath