Should TDS be deducted on branch audit fees when each branch is having a separate TAN No. and audit fees for each branch does not exceed Rs.30,000. However audit is conducted for all the branches by the same auditor. If no TDS should be deucted then please provide the reference.

One of my client has the inventory reported incorrectly in the balance sheet since incorporation in 2011. I have figured it out now (he's my client only now) and wish to rectify the old errors. The tax returns and ROC returns have been filed for all these past years. How do I rectify now as it involves big amount of losses being written back. Can we show it as a separate line item in P&L? Is it valid as per Income Tax Act? Also, would like to know is there any impact under Companies Act ?

Thanks
Mohan.

Dear all my friends,

I want to know how to disclose foreign currency exposure ( loan payable, parables and receivable in foreign currencies) in financial statements when it is hedged and is not hedged. Further i also want to know its treatment in Accounts, if any.
(Support your answer based on some reference)

Kindly reply urgently either on this forum or you can mail me at my email id: amareshkumar.ca@gmail.com

Thanks.

my client have audit due for ay 15-16( fy 14-15), he is liable for penalty for non filing of audit report, his turnover is rs 1.5 crore ? is there any way to save him from penalty?

If i have five trucks and my total turnover is more than 1 crore, shall i require to maintain and get audited my financial statements or i can choose the option of 44AE by showing income of 4.5 lacs 7500*12*5

I have cleared group 1 and have given my group 2 CA final exams this time. I am having interest and an inclination to get into specialisation of systems audit. Kindly advice and suggest to proceed ahead.

Dear Experts, please guide me to tackle a situation.. a company has been incorporated in March2014 . but it has not filed any form regarding annual filing any time.. not even about appointment of Auditor.. . now what should i do..?? . hw can i resolve the issue.. . in december 2015 company has change its name..

what would be the legal proceedings against a public limited company which is failed to conduct any type of audit for more than 10 years?

Sir I want to know. What is the code in finacle which generates approx all reports in finacle of union bank of India. which shows in concurrent audit report.

Can a Chartered Accountant whether pursuing final or have completed his CA and doing job becomes the proprietor of the business?