Whether caro 2016 is applicable for may 2016 exam??

Please,
can anyone help how to calculate penal interest on late submission of stock statement in bank.
Please help me by giving illustration so it will be easy to understand.
Let say Limit of CC :- 1 Cr
Interest Rate :- 14%
Penal Interest is @ 2% .

Audit for AY 2014-15 & AY 2015-16 not done still 31/03/2016, so is it possible to do audit u/s 44AB after the due date?

Can any problem to CA for doing audit ?

Please give reply as soon as possible.

Thanks in Advance.

XYZ Bank charges interest on its Advances on 30.03.20XX and the account classification is done on 31.03.20XX (i.e Classification of NPA) and if account become NPA (i.e sub-standard on 31.03.20XX).

Whether to Reverse the Interest Credited in the account of the NPA (Sub-Standard.) on 31.03.2016.

Hi,

If individual firm having Sales Rs.1,07,00,000 and Sales Return is of Rs. 10,00,000. and Net Profit is Rs. ,500,000. So, I Have to do audit either u/s 44AD or 44AB. But Question is that weather turnover i should take is Rs. 10700000(Gross) or Rs. 9700000(Net of sales return)???

if audit is under 44ad, then no need of to deducted Tax (TDS) for commission next year.

Plz Help

while deducting tds.. If an assesee who has both income from business as well as profession but if he is covered under tax audit only in either of the two.. will he be able to deduct TDS to expenses pertinent to both business as well as profession.. or only in which he is cover under tax audit.... please explain

Hi Experts I want guidelines for audit of Bank Branch which is treated as Currency Chest.
Thanks

pls tell me how to do bank branch audit and which precautions have been taken

Dear all,
pvt. Company's profit before directors remuneration is exceed 8% but after providing the same to directors, the profit is being below 8% in this case weather audit under section 44AB is to be done or not

Thanx & Regard
Devesh Garg

Dear sir,
Plz let me know what is statutory audit and when it would be conduct....

Regard
Vimal jain