One of my client has income from online advertisement.Money is earned in US dollar and is transferred to his account at the exchange rate prevailing on the date of transfer.His gross turnover is less then 60 lakhs.I have heard somewhere that even if turnover is less then Rs.60 lakhs but is earned in foreign exchange tax audit is compulsory,irrespective of the quantum of receipt.I am a bit confused regarding the issue.Is tax audit required?

Please help?

some unscrupulous crook presented one forged Cheque of a company in bank and bank cleared the cheque. Company has filed a suit against bank in consumer court.Company is showing the amount of loss as Bank Suspense A/c on Asset side and not writing it off in profit & loss a/c.
is it a contingent asset or not?
Can we issue a clean report giving a note regarding above or we have to qualify report?
(Loss in respect of above is 9lacs and its net profit is 11 Lacs)

Dear All Expert,

Pls tell me new limit of company audit and tax audit,which turnover company is responsible for com. audit and tax audit?

Hi,
Is there any book in the market,that explains how to do the various types of audits in practical way including live examples.I mean, that book which explains how to check each and every ledger.For eg- if any error occurs in cash book how to resolve that error like wise.
Are there any books in markets which concentrate on particularly one type of audit like statutory audit,internal audit that to be in a practical way.
If available,how much it costs?
Thanks & Regards
Balakrishna

Designing expenses in earlier year is written off as revenue expenses in P & L a/c. at the later year it comes to know that is requir to capitlais in eariler years. if this mistake want to rectify,how can be shown in book's of a/c

A proprietorship firm has loss of Rs. 70000/- and its turnover is 39.5 lakhs... whether it is reguired to get its accounts audited as its netprofit is less than 8% or not. wat is its due date of filling return.... plz help

The company is engaged into radiography services. It charges service tax. It's turnover excluding service tax is rs. 57 lakhs for the A.Y. 2012-13. However if we include the portion of service tax (which is shown separately in books of accounts) , the turnover will cross the limit of 60 lakhs and tax audit would be required.

What will be its turnover for the purpose of audit. Will the amount of service tax. Be included for calculating the turnover.!

I have been auditor of 30 pvt. ltd.cos , none of them covered under tax audit u/s 44AB.can i do now 45 nos. of tax audits of non- corporate firms.

What are the check list of VAT Audit?

In a foundation registered under sec25 there was a donation paid in fy 09-10 which was debited to PL a/c and in fy11-12 it is recd back due to some reason so fy 11-12 what should be effect of same.can it be shown as donation recd,but then it will be transfered to corpus fund.