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.

Please consider this case:
A co. A Ltd. being known of the fact that they will realise nothing from debtor in the coming periods, instead of this they are not Taking any provision in the books for the same.
So i want to know its treatment in the Audit report?

Sir,

I wanted to Know the Exact Treatment of Preliminary Expense and Preoperative Expense which are being Brought Forward from Previous Years and Those which have been Created During the Current Year as per Revised Schedule - VI for Private Limited COmpany.

Would there be any change in treatment for Public Limited Company.

Thank you well in advance

Dear Members

An Assessee doing Share Farward Trading during the whole Fy-2011-12 He was Purchased and sold shares nearly 5 Crores at this situation He is Liable to get Audit his account u/s 44AB or Shaort Term Capital Gain and Speculation Business

He was Doing 5 Crores Purchase and Sales for the FY-2011-2012 and he is also loss Rs. 5 Lakhs

1.) 44AB Applicable

2.) Shaortterm Capital Gain/Loss

3.) Speculation Business Profit/Loss

Please tell which is applicale to him

Thanking you

My client is having a sales turnover of Rs. 20 Lacs and purchases turnover of Rs. 15 Lacs. But apart from the above during the financial year my client has purchased the machinery of worth Rs. 250 Lacs. Therefore I want to know whether he is liable for Tax audit or not? As due to depreciation he is having loss return and therefore I want to confirm the due date of filing of return.

while doing audit of a firm , i found an expense of the month of march'11 via credit card . bill was received on 5th day of april'11 . but the provision for the same were not been made . the same bill was not paid in the month of april'11 , was paid in the month of may'11 .
pleas solve the query while keeping the law of income tax act .