Dear all,
i am doing audit of an mfi registered as a society. What is the implication if i include grant from promotors to increase the networth of the society. and what is the treatment if there is an amount collected from members for some purpose. what is the maximum limit of interest to be paid on unsecured loans? please this is urgent

In a Company Physical Verification Fixed aseets has been done not in financial year but in the subsequent year.What is the consequences of such in Statutory Audit in the financial year?

Whether revenue stamp is required to be affixed on salary register or payment voucher when it is paid through the cheque?
does it makes any sense if the cheque is not a account payee cheque?

If any person has sales more than 40.00 lacs of shares and net profit from share trading below 40.00. Is a person needed tax audit. What is a defination of turnover if he calculate profit as business or capital gain.

Dear Experts,

Pls.guide me on what base provision for forward contract to do?

What is the difference bet'n the hedgeing & speculation in forward contract?

If any body have any material related to forward contract with latest updation pls.forward to my email id if possible.

prakashjasani_56@rediffmail.com

Pls.reply asap.

Regards,
Prakash Jasani

1.in order to save DD commission, if a person deposits the amounts of Rs 21000/- in a banking a/c CBS, against the payments towards purchases, whether it amounts to disallowance.
CAN ONE TAKE SHELTER U/S RULE 6DD' PAYMENT THROUGH BANKING SYSTEM -RULE 6DD(c)

A company's total FBT Payable after surcharge & Cess is say rs 10,00,000.

The payments made in each quarter are:
15-06-2007 135,000
15-09-2007 395,000
15-12-2007 300,000
15-03-2008 200,000

As per the above example, the payment made in the first quarter is less than 150,000..... But in the following quarters excess payment has been made....... What will be the treatment of interest in the first quarter.....??? What entry needs to be passed in the books??????

Can the Statutory Auditor of the Company question the correctness of the "Discount Rate" taken by the Actuary for the valuation of Gratuity/Leave Encashment Liability as at end of March'08? For eg: Actuary has taken 7% as the discount rate where as Auditor feels it should be 10%

can i know the procidure, method,and the practical approach to be addopt while doing audit.and under which area i should go into depth.are firm mostly deal in pvt co.(stat audit) and internal audit.i would like to know the pocedure from starting till finalisation.

WHAT POINTS TO BE TAKEN FOR AUDIT OF COMPANY REGISTERED U/S 25 AS A MICRO FINANCE COMPANY NON PROFIT COMPANY PLEASE GIVE IN DETAILED PROCEDURE FOR AUDIT

THANKS