Banks need to provide for bad and doubtful debts on all advances - be it standard, sub-standard, doubtful or loss. Then when do banks book BAD DEBTS? When is the auditor suppose to certify BAD DEBTS in case of Banks and/or co-operative societies?

Dear experts please solve one of query coming in mind regarding sales tax rate:

1. How a tax auditor confirm rate of VAT
of various items showing in books of
account of the client.

Example:
A Proprietorship trading firm which deals in hardware items shown different rates of VAT on item purchased & sale say 4%, 5%,14%,2%, taxfree.

There are people who are trying to get there accounts audited with tally data only and not giving any sales, purchase bills.

2. There activity seems to suspecious and
look like that they have manipulate the
sales & purchase with diff. rates to
evade the sales tax liability.


3. Also seen some accounts book in which opening stock is NIL & have closing stock. Further no VAT receivable or payable shown in books of A/c's

Please guide what is the possible thing that these type of traders trying to do & wish to get there accounts audited.


Please replied fully & elaborately.

Regards

Hi group, this query is with regard to Indian companies act . and pvt ltd cos incorporated under the same . A company incorporated as a Pvt Ltd company in September, 2009 has not filed its annual report , balance sheet & Income Tax return for the Fin. Year 2009-10 and 2010 -11 . they have filed it now on 31st march ,2012 What will be the penalty applicable to them to be paid by them for late filing of i) balance sheet and annual return ii) income tax return .

Hello

I want to know if any proprietorship firm converted to partnership firm(with 2 partner) on 10/04/2012 then whether both partner are eligible for audit of the companies and tax audit for the F.Y. 2011-12.
What are the ceiling limit of that firm,
Please reply soon. thanks in advacne

As per the notifications published dtd 11.4.2011, by Cost Audit Branch; Cost auditor should be appointed within 90 days by e-filing form 23-C on www.mca.gov.in

Now what is the procedure if company has not filed that within 90 days? From where can i get that detailed procedure ?

Is there any procedure that we can perform back dated / by paying penatly ?

Sir

I am doing a Sub Contract work and i was received in FY- 2010-11 Rs. 58,50,000/- and I am also an Insurance agent and I was get a Insurance commission Rs. 2,00,000 in the FY-2010-11 till the date my it return not filed i want file my it return before 31st March my query is
1) I am Audit my Accounts U/s 44AB or Not because total Gross Receipts is more than 60lks
2) if non tax audit i will shown my sub contract gross receipts u/s 44ad and ofered 8% N.P. and what about the Insurance commission and which head is shown insurance commission Income from other source or Professional Income

Please tell

Thanks Inadvacne

What is the difference between a Company Audit and a Internal Audit of a company?

Respected All,

We are working in IT Support I want to know service tax code for IT hardware support services (AMC) as per my knowledge the code is 00440245? please help..

Regards

Jitendra Rathod

Can anyone help me regarding

"REVISED SCHEDULE IV"

I have to prepare Quarterly Balance sheet of PVT LTD. Co.

I have never made B/s in Schedule IV format.

So its a humble request to u all, kindly provide me some LINKS OR MATERIALS through which I can able to prepare Sch. IV

and also if someone has Audit Check list of all areas should provide.

Thanks & Regards

which point should be consider while giving certificate for visa purpose? is there suggested format?