I have a problem while filling ITR. I have 2 assets in my book. There opening WDV as on 01/04/2016 is Rs. 23263(11492+11771).Depreciation rate is 15. One of the assets of WDV Rs. 11492 is sold on 31/03/2017 for rs 5000
& another assets of same kind is purchased in Nov 2016 say for Rs. 10000.
What depreciation value & closing WDV shall be shown in excel sheet as well as in ITR.
Whether dep shall be Rs 4240 (1724+750+1766) or Rs 2516(750+1766). And how loss on sale of assets of Rs. 5000 shall be treated?

what is a last date of tax audit

Can we sign Tax audit reports without having FRN No.?
Having COP

tax audit due date will extend or not?

Na any chance of exceeding the date of audit filling of year 2016-17?

Dear Sir,

GSTR-2A auto populated data shows correctly with counter party submit status - YES, I have no deviation with the purchase figure - Still I have to file GSTN-2 ? Pl advise

Can an assessee having two proprietary concerns appoint two seperate auditors for each concern and can both the auditors upload two seperate audit reports on the Income tax site.

Fellow members

A proprietorship CA firm was appointed as Statutory Auditors as the first Auditors of the company for FY 2016-17. As on 1st April, 2017, the proprietor firm has been merged into a partnership firm and as on date of signing of Auditors Report & Financial Statements, the proprietor firm is not in existence.

My query on whom behalf Auditors Report & Financial Statements will be signed by the Auditor: in the name of proprietor firm or partnership firm.

Hi,
Kindly help me in these point of audit report.
{a}* Particulars of each loan or deposit in an amount exceeding :
the limit specified in Section 269SS taken or accepted
during the previous year :-

{i} name, address and permanent account number {if :
available with the assessee} of the lender or
depositor;

{ii} amount of loan or deposit taken or accepted; :

{iii} whether the loan or deposit was squared up :
during the previous year;

{iv} maximum amount outstanding in the account at :
any time during the previous year;

{v} whether the loan or deposit was taken or :
accepted by cheque or bank draft or use of electronic
clearing system through a bank account.

{vi} in case the loan or deposit was taken or accepted
by cheque or bank draft, whether the same was
taken or accepted by an account payee cheque
or an account payee bank draft.

* {These particulars need not be given in the case of a
Government company, a banking company or a
corporation established by a Central, State or Provincial
Act. }

{b}* Perticulers of each specified sum in an amount exceeding the :
limit specified in sec. 269SS taken or accepted during the
previous year :-

{i} Name, address and permanent account number {if :
available with the assessee} of the person from whom
specified sum is received;
:
{ii} amount of specified sum taken or accepted;
:
{iii} whether the specified sum was taken or accepted by
cheque or bank draft or use of electronic clearing
system through a bank account; :

{iv} in case of specified sum was taken or accepted by
cheque or bank draft, whether the sam was taken or
accepted by an account payee cheque or an account
payee bank draft.

* {These particulars need not be given in the case of a
Government company, a banking company or a
corporation established by a Central, State or Provincial
Act. }

{c}* Particulars of each repayment of loan or deposit or any :
specified advance in an amount exceeding the limit specified
in section 269T made during the previous year:-

{i} name, address and PAN (if available with the :
assessee) of the payee;

{ii} amount of the repayment; :

{iii} maximum amount outstanding in the account at :
any time during the previous year;

{iv} wether the repayment was made by cheque or bank :
draft or use of electronic clearing system through
a bank account;

{v} in case the repayment was made by cheque or bank :
draft, whether the same was taken or accepted by
an account payee cheque or an account payee
bank draft.

{d}* Particulars of repayment of loan or deposit or any specified :
advance in an amount exceeding the limit specified in
section 269T received otherwise than by a cheque or bank
draft or use of electronic clearing system through a bank
account during the previous year :-

{i} name, address and PAN ( if available with the :
assessee ) of the lender, or depositor or
person from whom specified advance is received;

{ii} amount of loan or deposit or any specified advance :
received otherwise than by a cheque or bank draft
or use of eletronic clearing system through a bank
account during the previous year.

{e}* Particulars of repayment of loan or deposit or any specified :
advance in an amount exceeding the limit specified in sec.
269T received by a cheque or bank draft which is not an
account payee cheque or account payee bank draft during the
previous year :-

{i} name, address and PAN ( if available with the :
assessee ) of the lender, or depositor or person
from whom specified advance is received;

{ii} amount of loan or deposit or any specified advance :
received by a cheque or a bank draft which is not an
account payee cheque or account payee bank draft
during the previous year.

* {Particulars at (c), (d) and (e) need not be given in the case of
a repayment of any loan or deposit or any specified advance
taken or accepted from the Government, Government company,
banking company or a corporation established by the Central,
State or Provincial Act}.

Thanks & Regards,

Mohd Nasruddin

If an professional assesee declare his profit less than 50% in AY 2017-18
its audit mandatory for him ? Not opting 44ADA.
If yes than what is the relevance of filling ITR under ITR Form 3, with just maintaining books of accounts and declare profit below 50% and no need to gets your accounts audit. As we filed in last preceding years.