ASSESSEE HAVING TURNOVER MORE THAN 12 CRORE IN NORMAL BUSINESS AND HIS BOOKS ARE SUBJECT TO AUDIT IN F.Y.19-20. HE ALSO TRADE IN DERIVATIVES (INTRADAY) IN WHICH PURCHASE AND SALE OF SHARES ARE OF RS. 58 CRORE AND SUM TOTAL OF PROFIT AND LOSS TRANSACTION IS 20.00 LAC . I WANT TO KNOW 1. WHETHER HIS SHARES BUSINESS WILL ALSO BE AUDITED. HIS ACTUAL LOSS IS 3 LAC FROM SHARE BUSINESS. 2. OR WE CAN SHOW IT AS SPECULATION BUSINESS AND SHOW 1.20 LAC AS PROFIT IN ITR (6% ON 20.00 LAC). PLEASE SUGGEST

Respected Sir,

Can a other Chartered Accountant take Tax Audit without any concerned of previous auditor in proprietorship firm. ?

hello everyone

can cash deposited by partners in current account of partnership firm account be attributed as capital of partners. Total deposit on a single day is around Rs. 14 lacs. Likewise there are few more instances of cash deposits more than 2 lacs on single day by partners. Will this go for qualification in tax audit report?

kindly clarify

sir : "x" person is a Distributer of Airtel Company. Mr. "X" Purchase Mobile Recharge & Top up Recharge Coupen From Airtel Company. Mr. "X" Sale of Recharge & Top up Recharge Coupen to Retailer Distributer. ( "Y" Party) & Mr. "Y" (Retailer Distributer) Sale of Recharge & Recharge Coupen to Last Custumers. Mr. "X" Collect Cash Amount from Mr. "Y" Against Sale of Recharge. Mr. "X" Received Cash Amount Deposit his Current Bank Account & this amount Paid to Airtel Company. this Service Against Airtel Company Paid Commission @ 1.25% Main Distributer (Mr. X) And @ 2.50% Commission Paid to Retailer Distributer (Mr. Y) In this Process Mr. "X" (Main Distributer) Collect cash amount from Mr. "Y" (Retailer Distributer) This Amount Deposit in Mr. X Current Bank account and this amount Paid to Airtel Company By Online Transfer Q. 1. Mr. " X" Persen Turnover...........? Q. 2 He is Liabel for Audit...........?

Is it posible to get artcleship registerd with ca in practice is appointed as full time or part time employee else where, provided permision of ICAI is obtained by ca for employment.??

Pls reply!!!

I want to get my trust audited for last five years, due to some issues i dint got it audited, please advice me as to under which act should i get it audited and what is the procedure

check list for conducting EGM and related formats also.

Please anybody share internal audit format with key areas and legal factors to be verified in Jewellery sector

Practicing chartered accountant who is a statutory auditor of the company, can do internal audit of that company through company/llp in which his wife & cousins are directors (That ca is not a director of that professional company. he is shareholder only)

Request you to kindly inform where should be grouped in the financial statement - if loan received group company as - "Inter Group Company Deposit" {ICD).

either should group under borrowing from bank - working capital loan and above said
Or
either should group under financial liabilities.