A Person have profit under section 44AD . Whether it is right to show this point in audit report under point no- 10 of 3cd.
and also please explain this point

with regard to the tax audit, whether vat on sales and purchases need to be shown in profit and loss account.

how is tax audit done...please elaborate

I am Chartered Accountant will Full Time COP.
I am working as a partner with a partnership firm.Whether can I sign Audit Reports in my Individual Name without mentioning details of Partnership Firm.

Following are my two questions regarding efiling u/s 44 ab -
1] Is a signed copy (by the assessee and the auditor)of the P&L a/c & B/s in PDF format is to be uploaded or it need not be signed?

2] Are all the annexures and schedules to the P&L a/c and B/s also to be uploaded ?

Thank you

what is risk consulting?

thanks in advance

whether it is compulsory for the trust to make audit. if not then what are the limit for audit compulsory .pls give me answer

My client has given a interest free loan from its proprietor-ship & from its partner-ship firm to a Pvt Ltd Co. which is also owned by her.
There is a closing balance of Rs. 6 lacs and Rs. 16 lacs in proprietor-ship & partner-ship firm respectively.
My query:
1) Whether notional interest needs to be charged for the proprietor-ship & partner-ship firms under IT Act?
2) Whether a pvt ltd co. is allowed to take interest free loans under companies act 2012?

I have been doing tax audit of a public limited company for past 3 years from AY 2010-11 to AY 2012-13.
For current year of AY 2013-14 I have been co-ordinating with the Head of Finance dept.for past 3 months. He didn't give me appointment letter neither he told me that he is cancelling our tax audit this year.
I have made certain preparations for the audit of the same for this year.
Now suddenly the management is saying that we shall cancel your audit relating to Fees issues.As they are getting other auditors in less charges.
Please tell me that whether I should allow them to cancel the audit. Is there any rules for under-cutting as per C.A. institute.
If i do not permit new auditor to conduct the audit under such circumstances (Under - cutting of Fees & Late information)than please tell me that whether i i am doing something wrong.
Further please tell me what are my rights in such a case. What should i do in such a case.
Please quote the rules of C.A. Institute in this regards.
Please reply
Thanks in advance

There is a Proprietory firm with turnover of around 45 Crores.
Vat audit and Tax audit both are applicable.
Every month there are on an average 300 transactions with around 35 different parties.
It is not practical to check each and every invoice for the purpose of statutory audit.
So what basis can I select and how many invoices should I check to complete the Sales vouching in a limited time?
Can anyone please suggest an apt Sampling method?