Hi, I am doing audit of one Trust employing more than 100 employees. The said trust is also employing on contract basis who include retired Govt. Employees etc. whether, Provident Fund Act is applicable to contract employees or not & if possible kindly quote the reference section of the respective act. The said client trust is deducting PF of its regular employees but not of employees on contractual basis.

CA. Lahoti, Pune

for a garment based pvt ltd co., what are all the main areas to be covered for internal audit?

How can I get prior approval of central government for removing subsequent auditor before AGM in the PVT LTD company?

Dear Sir,
My book closing is on 31st march but i hav prepare accounts for the december quarter. Their is an asset purchased in the quarter qualifying for 100% Depreciation so depreciation that would be charged 2 P&L would be proportionate for the December and March Quarter or I hav 2 charge 100% for December Quarter.

i have filled the Income Tax Return and ROC Return in form-52. Now i want to know that how to report the RBI? What is the procedure? please advise step by step. thanks in advance

DEAR SIR
WE HAVE SUB CONTRACTORS(X,Y,Z). WE ARE PAYING TO THEM(X,Y) THROUGH BANK ACCOUNT BUT ONE SUB CONTRACTOR THERE IS NO BANK ACCOUNT(Z). AT THIS SITUATION WE ARE PAYING TO THAT SUB CONTRACTOR(Z) THROUGH ANOTHER SUB CONTRACTOR BANK A/C(X) IS IT CORRECT OR NOT ? IN THE ABOVE SITUATION WE ARE PASSING THESE ENTRIES:
1.X A/C DR 2. Z A/C DR
TO BANKA/C TO X A/C

NOTE: WE ARE PAYING AMOUNT NEARLY 7 TO 8 LAKHS TO SUB CONTRACTOR (Z)
1. IF THE ABOVE PROCEDURE IS CORECT WHICH SECTION WILL APPLY?
2. IN THE ABOVE PROCEDURE IF THERE IS ANY DISALLOWANCES WHICH SEC WILL APPLY?
THANKS IN ADVANCE

There is a private limited company. It is subsidiary of foreign co. it has received share application money from its holding foreign company.
Now my query is what is the time limit for issuing share to the holding co.

A Director has misplaced his DIN number and what should he do now for him to submit for roc filling.

A compot lottery shop whose turunover is of 30,000/day but his margin is of flat 3% of on sales. Description of one transaction:
If and if cleint comes then shop owner purchases the lottery and sells instantly and the profit or loss for the purchaser is declared in one hr. Futher, he does not keep any stock for the day of lotteries. Its pure purchase and sale transaction and margin for the shop owner is margin only.

Will in the above case Tax Audit will be applicable? as the T/O for the year wil for sure exceed 40lacs? or should i consider only margin as his turn over and thus no tax sudit?

Can the share application money be received in form of kind? Do the following entry is correct?

ADVANCE TO CREDITORS a/c Dr
to SHARE APPLICATION MONEY a/c.