a listed company has apointed xyz & co CA for FY 2009-10. The auditor does not have a peer review certificate so the directors claimed that as per the notification by ICAI the auditor is not qualified for the audit and appointed ABC & Co. as their new Statutory auditor by filling casual vacany. Is the contention of BOD correct?

Is it possible to Divide the rent agreement in to 2 parts i.e., Saperate Agreement of Maintanance and Rental Agreeemnt
Ex. Rent Agreement for Rs. 10000/- PM and Maintanance is for Rs. 3000/- PM,
Insted of Rs. 13000/- PM as Rent

I want to know that whether a member of ICAI holding full-time CoP and being a partner in CA Firm can be appointed as Statutory Auditor in his individual capacity by a company in its Annual General Meeting.

What share warrants mean? Is it transferrable? Where this should be disclosed in balance sheet?

Please say me for following:

My firm is a partnership firm.the partners of the firm take salary and also withdraw amount in the way of Credit Card Expenses & Transferd to saving ac.while finalisation their capital is debit bal.

While filing their personal Income tax return can I prepair their Personal Ac Can i Pass all Dr. to their Presonal Expenses & Credit Firm ac.

Eg: Credit Card:(Shopping Done)
Drawings Dr
Firm Cr
is it right way of accounting.

The partners have purchased car,made some fds,Mutual funds. This should be shown in their personal ac the purchas are in their Individual name.


Please guild me so that i can maintain their Personal Ac in Tally or should not maintain

Regards

One of my clients is into the business which falls under 194C

would like to confirm the following:

If he is following cash method of accounting then for the purpose of calculating turnover,i take into account only gross receipts (deposits in bank account)

Now,service tax (ST)is applicable to him so in the ST return i would have to show turnover as actual sales billed during that year

Am i right??
Please confirm the above


Regards
Alka

PS:If anyone has any suggestions as to how to account in tally (cash based accounting vis-a-vis Service tax records) then please share it..

If a company engaged in IT services purchases RAM and other hardwares worth less than Rs.5,000 which increase life of computers by 1-1.5 yrs can be expensed off or should be capitalised?
Total of such purchases over the year amounts to more than Rs.20 lacs.

How to check Pref. shares redemption?
What documents can be checked for the same?

My firm is a partnership firm.the partners of the firm take salary and also withdraw amount in the way of Credit Card Expenses & Transferd to saving ac.while finalisation their capital is debit bal.

While filing their personal Income tax return can I prepair their Personal Ac Can i Pass all Dr. to their Presonal Expenses & Credit Firm ac.

Eg: Credit Card:(Shopping Done)
Drawings Dr
Firm Cr
is it right way of accounting.

The partners have purchased car,made some fds,Mutual funds. This should be shown in their personal ac the purchas are in their Individual name.


Please guild me so that i can maintain their Personal Ac in Tally or should not maintain

Is accounting to be done for Partners personal Return.

Regards

Dear All,

Can you give some reference from Audit book where it is mentioned that organization has to preserve the books fo last years mandatorily.

I had read it lont time back, Can you shed some light on the current modification in this regard?

Regards,

Amit Deokule