Dear Sir, I m Sudeep From Raipur an assessee doing share trading personally. In ay 2013-14. I hv a loss of 34107 from intraday share trading. Being speculation loss Whether it should be audited? And if yes under which section? Books of ac's is required to be maintained? I hv heard that capital income and speculation income doesn't attract tax audits. Only normal business income comes under it. Also I hv admit it on my itr for carry forward without audit. And after sone time I hv received a notice u/s 143(1). In which department has added that loss of 34107 as profit under business and profesion head. And claim a demand of tax. What I hv to do? Pls clarify me thank you.

A very Happy Morning to you all.

My query is," the operations of company is closed from Jan 2013. Can you please clarify if statutory audit is required to be done, as there is no transactions between april 2013 - March 2014."

Will be thankful for your due anticipation

Regards & Thanks

Dear Experts, i want to knw the provisons n applicability of ESI n EPF over contractors labour. whether ESI n EPF provisions b apply to them even they r not permanent employes of company???

A Student taken a Education loan from bank.

The Bank has payment the Fee directly to Collage through DD of regarding Education Loan .
Query of this when Bank issued a DD for payment of fee then not DD Charged From Student .

the DD charge mention in Service Charge of Bank
Please Expert express his Opinion
why bank relief to DD charge for Student .
what is not loss of Bank revenue .

Dear Experts,

Please suggest whether the following situation would cover in Prior Period ambit:- ??

A compliance Cert. issued by the Company Secretary for Rs. 10,000/- during the current year ..i .e. bill dtd 15/Mar/14, which pertains to financial year ended 31/March/2013.

Whether provision of Prior Period Items would apply in this situation (Ref to AS-5).

Hoping for a prompt response in this regards.

Thanks

Dear Experts,

Please siggest whether the following situation would cover in Prior Period ambit:- ??

A compliance Cert. issued by the Company Secretary for Rs. 10,000/- during the current year ..i .e. bill dtd 15/Mar/14, which pertains to financial year ended 31/March/2013.

Whether provision of Prior Period Items would apply in this situation (Ref to AS-5).

Hoping for a prompt response in this regards.

Thanks

AS 11 has not specified that which rate should be taken for recording an import transaction.Should we take the RBI rate or rate given by CBEC?

once the turnover of indivdual exceeds 1 cr he is subject to tax audit. wat if in d next financial year turnover is less den 1 cr?? is he subject to tax audit?

Is there any amendments in audit applicable for May 2014 exams as there is no notification on ICAI website for this?

Dear Experts, i want to know the provisons of Tax audit. if an assese is laible for tax audit in Fy in which its turnover was 1 crore bt if its turnover in next FY reduces from 1 crore, will he b laible for tax audit for the next FY