As the wealth tax is not existing now, the today's announcement of Finance Ministry that "tax payers having excess gold than stipulated must have maintained Wealth Tax else, it would be taxable at 82.5% plus penalty" should be understood in waht sense,

in short,

"what is the tax liability of an individual as of today, if in possession of excess of limit of Gold as ornaments, including that purchased in recent past."
Thank you.

Someone please help me to join big 4 for articals

sir I need to know how revenue and consumption from hotel is audit give me details which are evidence to check for revenue and consumption

Hello sir, is it good to study audit from practice manual of icai. I heard from many that the practice manual is not arranged properly and it is difficult to study from there.

What do we mean by Muster Roll in a company?

dear sir, i am accontant i want change the job but each & evry new employer want accounts and auditing work done through accountant can you tell me some auditing stricks

Hi Good Morning

I want start a new Tours and Travels business my turnover will cross more than Rs 900000 . i want register service tax. i don't know how to register and where i have to register and another question is its proprietorship may i apply another PAN and my pan is applicable ?

Sir, I am working as an articled assistant. I am doing concurrent audit in RBI. RBI is purchasing newspapers and magazines from a particular vendor but they didn't make any contract. They are paying beyond Rs30000 every month to that particular vendor. So my question is shall TDS applicable for that amount?

The Company’s management is responsible for establishing and maintaining internal financial controls based on _____ [for example, “the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India”.]

In our opinion, the Company has, in all material respects, an adequate internal financial controls system over financial reporting and such internal financial controls over financial reporting were operating effectively as at March 31, 2016, based on ______ [for example, “the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India”].


I want to know based on what we can complete the above comment.

Auditors Lien