Sir,

My business turnover is INR 43.00 Lakh for 2017 - 2018. Gross profit is INR 4.43 lakh. Then INR 2.79 lakh all allowable expenses. So net profit is INR 1.64 Interest on capital is INR 1.65 lakh

After all my books shows loss of INR 3000.00 I am liable to audit my accounts??

Whether I am required to get my books audited?? if my net profit is below 8% and I m not opting for sec. 44AD and showing my income in business and profession head. My turnover is below 1cr. and upto last year my books are audited.

Dear Experts,
I am a CA article and I filed a wrong tax audit u/s 44AB caluse 26
((i) In respect of any sum referred to in clause (a), (b), (c), (d), (e) or (f) of section 43B, the liability for which
(B) was incurred in the previous year and was
(a) paid on or before the due date for furnishing the return of income of the previous year under section 139 (1);(AT THIS PLACE)))
I ENTERED WHOLE AMOUNT OF THE GST PAID(say rs.50) IN THE YEAR AT ONE ROW THEN ADDED ANOTHER ROW ENTERED SERVICE TAX AND ENTERED AMOUNT (SERVICE TAX+GST (i.e 50+service tax) ).
I am really in great depression after that.
what could be the possible scenerio? please help help

Dear Sir,

How to show the total investment in Balance Sheet for AY 2018-19.
Total Investment is 2.35 Crore as on 31.3.2018.
Opening balance of Investment is 1.95 Crore. (MF & Equity Share)
During the year purchase & sold transaction net of amount 40 Lacs.
How to show current investment & non Current investment in balance sheet of Pvt Ltd Company.

Current Investment means transaction during year.
Non-Current Investment means no transaction during year or op balance of investment (No Movement in Investment).

Please advise the same in above matter.

Thanks & Regards

NK

Dear Experts

Please help me to know the limit (turnover )of audit for Income tax under 44AB for Business and for presumptive Business and also what is the audit limit for GST , F.Y. 2017-18.


Reds,

HI SIR,

REVERSE CHARGE ON FREIGHT IS APPLICABLE FOR EXEMPT ITEMS I.E. EDUCATIONAL BOOKS TRADE.

The New Tax Audit Report has been released by the Department on 19.07.2018 and the same has been said to be applicable from 19.08.2018.
However, the New Form 3CD has not yet been uploaded on Site / Software and thus we are filing Our Tax Audit Report in the Old Formats.
I have a doubt regarding the same that- If Our Balance Sheets and Tax Audit Reports are dated after 19.07.2018 (i.e after the Release of New Tax Audit Report), i.e in the month of August, 2018, Is it mandatory for us to wait for the New Form 3CD to be uploaded on the Site/ Software OR We can File them in the Old Formats ?????.

What could be appropriate areas of checking in audit of jewellery shop

Dear Professional,

Please share the audit report format for financial year 2017-18

Dear Sir,

Please tell me whether there is any changes in the balance sheets & Auditors Report's of the
Private Limited company in AY 2018-19.

If yes please provide me the such document.

Thanks & Regards
NK