Hi
Respected Member

Can any one tell me ?

1. if a person carrying on two separate nature of business, then how gross sales limit shall be calculated for tax audit.
Whether agreegate or each business.

My C.a. said that it shall be calculated agreegate but i read guidance note on tax audit, in that it is written that limit of gross sales i.e. 40 lakhs shall be calculated individully for each business.

Please Guide

Thanks
in advance

Dear Sirs
What are the consequences , if a private limited company pays interest free advances of Rs 30 lacs to the relative of the director.

Pl. guide me

Regards

Dear Sir
What are the consequences , if a private limited company pays interest free advances of Rs 30 lacs to the relative of the director.

Pl. guide me

Thanks

suggest me best text book of audit

May I get your help concerning the aftermath of receiving qualified auditor opinions for Indian listed companies?
In another word, what would be the negative outcomes of receiving qualified opinions for these listed companies?

Or what would be the penalties for these listed banks that received qualified opinions, for example, would they be suspended of being listed for a given period of time? Or these companies might be charged a specific of money by the authorities?

Or there are no specifically regulatory penalties, but these listed companies would suffer a lot from the stock market as the public confidence upon their financial condition is weakened greatly along with the issuance of qualified opinion?

I appreciate so cordially for your talent and help.

Respected, sir/madam
while doing documentation of loan sanctioned by bank to any person other than company, it becomes difficult to identify the other loans taken by that person fro different banks.
how to identify the same?
My method is to go through the financial statement submitted by the borrower or to identify it by viewing account operation,
Banks usually take the disclosure of assets & liabilities from the borrower, but what if the borrower does not disclose the same?
Is there any report like R.O.C details in case of company to view the charge over its assets.

In case importer clears goods through middleman instead of c & f agent. c & f agent raises bill on middleman and middleman raises bill on importer. on what amount tds to be deducted by importer - on agency commission of middleman or on entire invoice raised by middleman (i.e. amount of reimbursement exps )

As per AS2, while considering NRV, cost necessary to make the sale have to considred. Please give some examples in this regard.?

A foreign company registered in Germany has got liaison office in india.
It is involved only in marketing strategy, Sales strategy etc.

It doesnt make any sale. In short only expenditure is made out of remittances received from the head office(Germany)to attain the above objectives.

Whether CORO will be applicable to the said liaison office situated in India.Legal Substantiation will be highly appreciated.

what is the inr vs usd rate as on 31.3.2010