What is the Tax Audit Limit U/s. 44AB --Turnover/Gross Receipts in Financial Year 2012-13. Give the Income tax amendment links.

Thanks

Mr.Kadam

We (auditors) had accepted to do an internal audit for a RESIDENT WELFARE ASSOCIATION. whose books of accounts were audited up-to 31/03/2011( a consolidated audit was done from 01-07-2009 to 31/03/2011 by some other auditor )The copy of audit report was given to us . we are supposed to audit and give a report for the period 01-04-2011 to 31-03-2012. but account books were maintained only from 01-05-2011 (due to change of management). Practically how are we supposed to do the audit now, also how to conform the opening balances. It has an average receipts of 5,00,000 per annum(collected for apartment maintenance .)

From an Audit Point of view,
If TDS is deducted late but paid in the month of deduction itself (before filing of IT returns), what will be the effect of the concerned expense and TDS in the Books, Computation of Tax and Audit report.

Is the expense disallowed ??

We have a registered co-operative housing society under Maharashtra State for having 14 flats in our building / society. We are collecting Rs.450/- p.m. from all our members as monthly maintenance charges, and in addition to this, once in a year we also collecting Rs.2,000/- p.m. as special extra charges for any other type of repairs or modification in our utility services. My query is - a) whether audit report is requires to get prepare from certified auditor and requires the same to submit to state govt. society office ? As our society got firmed in last year, and we have submitted audit report for such year to the said authority, but we came to know that, some of rules or acts got amended with withdrawn of co-operative housing society, b) Our board of members committee which have got elected for a year, is nearby get expires its validity, and from 1.1.2013 new committee has to get elected, so pl let me know, whether new committee resolution also to inform to the respective govt society office ? If so, what is its time period ? .

A company is having a turnover of about 12 crores and the networth is about 10 crores.
The company is engaged in the mining of clay. Whether the company will be hit by the cost audit provisions.

Thanks in advance

Sir, i am article doing audit of a loss making listed sugar factory. the scope of our audit is to prepare system for the client. i want to know the points on which i can audit the accounts and store deptt. pls also suggest some policies which the company should adopt to strengthen it's internal control.

Is it necessary to take coaching for ipcc auditing? wont self study be sufficient?

PLEASE MENTION IMPORTANT POINTS TO BE SEEN IN INTERNAL AUDIT OF CREDIT CO-OPERATIVE SOCIETY?

IS INTERNAL AUDITOR A EMPLOYEE OF ORGANISATION?

i have got my COP on 7/9/12
there is a company which was incorporated in may 2010 and has not appointed any auditor

can i become the auditor of that company

09784498412
CA Arpit jain

DEAR READER,
I WANT TO KNOW THAT CAN A COMPANY MAKE A CASH TRANSACTION WITH DIRECTORS AS LOAN.
I WANT TO KNOW THAT ; IS THAT SIMILAR TREATMENT AS A CASH PAYMENT ?


PLEASE NEED GOOD ANSWER.

REGARDS:
RAKESH