Audit QnA - Page No 598

All Resolved Open

Mayankkumar

18 August 2008 at 23:07

TRADING IN SHARES

i trad in shares in previous accounting year 2007-08, my purchase amount around 34,00,000 and sales value around 39,33,000 rs. i recive STT paid certificate on rs. around 67,00,000 value of transction. can i liable for audit ? can i show it as a bussiness income or short term capital gain ? for income tax return which form ITR-1,2,3,4, ?.

Vishnu Agarwal

18 August 2008 at 11:53

Debt equity ratio

What is the meaning of debt equity ratio?

nitin

16 August 2008 at 11:53

company audit

what is main difference between the qualified
and unqualified opinion?

madhur gupta

15 August 2008 at 19:12

when to record entry in books?

if bill is of last year but recieved by company in next year, say bill of march month purchases,or services etc., then it should be recorded on date when bill is recieved
then as an auditor can we question it regarding prior year exp.or this practice is allowed?

CA Abhishek Tyagi

13 August 2008 at 23:29

Audit of a company which dealing in shares.

Please let me know the main points which should be taken care into while doing audit of a compnay dealing in shares.

CA. Vinod

12 August 2008 at 17:53

Professional or Business Income under Tax Audit

Case 1 - Assessee earned income in construction of Designer floors, turnover is 15L. If Tax Audit applicable or not? Case 2 -Assessee only designs the floors and gross turnover is Rs.15L. If tax audit is applicable or not? In both the cases assessee is not having any professional qualification but his employees are.

Vishnu Agarwal

12 August 2008 at 13:12

relating to purchase

IF Form F IS NOT WRITTEN ON THE PURCHASE BILL IN CASE OF CONSIGNMENT, WHAT IS THE EFFECT OF NOT WRITTING IT?

Vishnu Agarwal

12 August 2008 at 12:53

casual vacancy

what is the meaning of casual vacancy?

madhur gupta

11 August 2008 at 20:02

repayment of debentures(under one time settlement)

hello experts
i am doing audit of a listed concern which has been declared sick by BIFR
it had issued rs.4 cr debentures earlier
n now due to non payment of int,n principal amount it gone for OTS(one time settlement) and has written back the balance amount as income of the previous year
now my quest.is if co.used the principal amt.against purchase of fixed assets and now when it is writing off both int n principal amt,will it have to adjust principal amt.against fixed assets n capital will come or writting off full amtas b.income is correct
plz refer section also
thankx