Hi,

A pvt. Ltd company had taken loan from its Shareholder. They issued a cheque to the shareholder for repayment of loan on 31/03/2014. The cheque had not been deposited by the shareholder till 3/9/2014. It has now been cleared by fresh issue and deposit of freshly issued cheque. Does this require any qualification for 2013-14 audit report

The Company is into Construction ( service Industry)

Example Case
During FY 2013-13
Revenue billed to Contractor - 1000 Rs.
Work Certified by Contractor - 800 Rs.
Debit note raised by Contractor - 50 Rs.
Revenue as per POC - 900 Rs. (Hence revenue recognised in PL should be 900 and 100 should be shown as Billing in excess of revenue?)

Now my query is - my Book shows debtor of 1000. But debtor has confirmed 750 (800 revenue and less 50 debit note)

So what is the accounting treatment for the difference of 250 between the books and statement by debtors.

Totally confused. Appreciate quick response

I join my articleship before some days and my principal send me for audit in a pvt. company and now he say to me to do audit self So please can anyone tell me how to start audit and what to do and how to do Right now i am totally confused... Please help me

I have a slight problem working out the bep for a service rental company.

company buys a product for 499(incl shipp and tax).
sells product for 649 (this includes installation and 1st month subscription)
foe the next 11 months the client will enter into a 1 to 5 yr agreement as a rental @ 399/month.

399 per month is pure profit.

how would i work out the bep for this example??

I have to Audit But there is a problem with in Auditor info.Software is showing there 6 option.
Can you please tell me their slabs or provisions

1. Clause 44AB(a)
2. Clause 44AB(b)
3. Clause 44AB(c)-i
4. Clause 44AB(c)-ii
5. Clause 44AB(c)-iii
6. Clause 44AB(d)

Individual resident having gross turnover of 50 lac and a profit of 1 lac only. I;e 2%. Lower than basic exemption.
Is he required to get his books audited????
Kindly explan with reference of sec 44AD(5).

Can a CA wife in her independent professional capacity do statutory audit of a private limited co. where her husband is the managing director, by disclosure in audit report? Kindly advice! Thank You!

Can a CA in practice allow another CA practising Separately to sign financial statements on his behalf?

If turnover is less then 1 crore & profit is more then 8% then audit applicable or not.

I am Proprietor of Small Shop.I have Used 44ad For Calculating Profit but in F.y 2013-14 I wanna Tax Audit Of My Books.
What is Due date of Tax Audit & Itr.