can an asset registered under a director's name be considered as fixed asset for the compaany.

Hi
Repested Member

Can any one tell me?

I am filing return of construction business of a party in my office.

In profit and loss account they disclosed 1 crore exp. in constrution site during the previous year.

And none income is recognised and such 1 crore exp. is net loss.

So what to do for recognised income, because according to matching concept this is not right and what method to apply for recognised income.

And construction is still continue.

And deposit received against 10 flats is shown as current liabilites.

And also capital a/c showing negative balance i.e. repayment of capital by bank account.

Thanks in
advance sir/madam

We are division of listed Entity having presence as Private Limited Company. We have appointed XYZ & Co. for last F.Y. 09-10 as Statutory auditor's for performing audit and signing Audited Financials, which are signed as on date.

My query is can i appoint ABC & Co. for doing Tax Audit ( other than Xyz & Co. ) for F.Y. 09-10.

Pl confirm under which section its specified that for last f.y. i can change my auditor for doing tax audit or else ABC & co. mandatorily needs to tax audit for f.y. 09-10

ER-2

Hi,
I run a cyber Cafe. We don't provide any bills. My question is how to get audited for such business. Under which form we have to file IT returns.

Us statutory audit is compulsory for all firms and companies ?????
Plz help its urgent ?????
And plz provide required source also......

In recent days is there is any announcements are published regarding companies books of accounts should be audited by statutory auditors on a half yearly basis i.e stat audit should be done half yearly basis not once annually

Say, Company ABC has accounting loss of rs.425000/- of which depreciation loss is of Rs 65000/- then as per As-22 shallwe require to make DTA on Loss which is to be C/f for next year i.e. Rs. 360000/- [ 425000-65000] or DTA is require on Entire amount of Rs. 425000/- ?

Total Sale is Rs.35,00,000/-
Total Purchase is Rs.45,00,000/-
So it is liable for Compulsory Audit u/s 44AB or not.....
Please give me answer as soon as possible......

Dear Sir

An employee is having salary/wages under ESIC is Rs.9000 in the month of January 10 and hence his contribution is deducted under ESIC Act@1.75%.

Now for the month of feb 10 his wages/salary under ESIC are 16000, our query is whether for February contribution should be deducted from his salary and to what extent. Please note that again in March he gets 9000.

Summary of Salary/wages
Jan 9000
Feb 16000
March 9000

so do we have to deduct ESIC for the month of Feb.

Regards
Arpit Malpani