my client Mr.X [an individual] has -2- business:
1. production of cloth [proprietary concern] - turnover p.a. rs.35 lakhs.
2. truck hiring business [proprietary concern] - presumptive taxation optrion availed - turnover p.a. rs.10 lakhs.

now as on 31-03-2009, for computation of audit limit u/s. 44AB business no.2 will be considered?
will x be subject to audit for AY 2009-10?

Suppose I have to do a Statutory audit of a company then what are the procedure or process i have to take to complete this task.Reply as soon as possible.also in case of tax audit.

the client has 3 businesses, ALL IN THE PROP. CAPACITY.

the turnover of the businesses is as follows:

1. 32 lakhs

2. 2.5 lakhs

3. 11 lakhs

sec. 44AB is applicable as the total turnover exceeds Rs. 40 lakhs

NOW THE QUES. IS

WHETER THE TAX AUDIT REPORT BE PREPARED FOR ALL THE THREE BUINESSES INDIVIDUALLY
WILL THE ANSWER BE CHANGED IF THE TURNOVER OF 1ST BUSINESS IS 42 LAKHS. IN SUCH CASE, WHETHER TAX AUDIT REPORT BE PREPARED FOR ALL THE THREE BUSINESSES.

PLS REPLY SOON, THANKS IN ADVANCE

can you tell me best book or best studyt material for audit of CA final

I Wanted to know why we do such entry in this situation
entry is:
Creditor a/c dr
Debtor a/c cr
SITUATION::
OUR FIRM NAME IS "ABC IRRIGATION" AND "XYZ IRRIGATION" IS THE FIRM FROM WHOM WE PURCHASE. NOW XYZ HAS PROVIDED A CHEQUE RECEIPT WITH NAME OF PERSON FROM WHOM PAYMENT IS RECEIVED.THEN Y WE DO THE ABOVE ENTRY IN OUR BOOKS WHEN WE HAVE NO RELATION BUT THE LEDGER OF OUR A/C IN XYZ BOOKS SHOWS CR BALANCE OF THAT AMOUNT???
I M TOTALLY CONFUSED ?
CAN ANYONE EXPLAIN ME THIS SITUATION?
PLEASE ITS URGENT

Dear Sir,
Can anyone please tell me the cash transaction limit per day for a pvt company & what will be the consequences that will come into force if it exceeds the limit?

Thanking You

One of our clients ( Pvt. Ltd. Co.) had some debentures of Rs. 20,000 which were reedemable on 30.6.2008.
It re-issued those debentures as on 1.7.2008 for another 17.5 months without any new document or proof ?
What should have the above co. done to re-issue the same debentures again or how do i check the same?
And what are the provisions of COs Act that it has violated ?

is it necessary for taking industrial training that the co is registered with ICAI?

WHAT KIND OF AUDIT TO BE CONDUCTED AT COMPANY

Is auditor required to continue (in current years audit report)qualifications, which he had made in the previous year audit report? when client has not rectified the wrong treatment made by him? please specify whether any guidance available anywhere in this matter.

thanks in advance