FOR EXAMPLE -
MY PARTY HAVE 50 LAKH SALES TURNOVER ,GP IS 8.73 , NP IS 3.67 , NOW QUESTION IS FOR IT AUDIT ? QUESTION IS FOR ITR 4 OR ITR 4S ? QUERY IS PARTY LIABLE FOR AUDIT OR NOT ? WHICH RETURN IS FILE BY PARTY ? IS PARTY LIABLE FOR ACCOUNT U/S. 44AA OR 44AB ? IS PARTY LIABLE FOR 44AD ?

Dear Sir,
I am having properitorship firm ,where we had done turnover in FY11-12 morethen 65 laks ( including nearly 3 laks tax) , out of that we had sales return of 7 lakhs ,so does this firm come inder audit....

Pls reply ...
Tq
Ashish

Dear Expert,

pls tell me how should I present Profit & loss account as per Sch. VI...

Revenue from operations Gross :

1.should I add Vat amount on sales of goods made or it should be net of Vat... as vat is not revenue for us.

2.Same in case of Revenue from Services ... Amount of service tax to excluded or not.

Company will change of its method of depreciation any time like SLM and WDV ?

'A' Pvt. Ltd. has taken land on lease from its sister concern 'B' Pvt. Ltd.with 10years lease period for monthly lease payment of Rs.19000, on which 'A' has constructed a Building for its factory use.Whether this Building is to be treated as Leasehold Improvement?If no what should be the proper treatment?Kindly reply

Plz. do tell me on which amount penal interest is to be charged?? Suppose if interest is charged @10% and amount of intt is Rs.5000, then whether penal intt is to be charged on 5000 or any other amount???
And what is MDA return??? what is the due date of filing of MDA return in Banks???

45 is the maximum limit for Tax audit assignments. In sec 44AD, if the assessee declares lower income than 8%, then he needs to maintain books as per sec 44AA and to get the books audited us 44AB. This type of compulsory audit will be included in the 45 count or not? Some professionals say yes and some say no. Anybody could clarify this with proof? Thank you...

Dear Sir / Ma'am,

Can you please tell me what is the due date for payment of Sales Tax?

My brother has just started a business a month back & this would be the 1st month to pay Sales Tax?

Turn over not known as of now..
Also if he has been charged Sales Tax on purchases as well, as far as i know the sales tax for his sales would reduce as it is calculated as Sales (Tax) - Purchase (Tax), is tht correct?

Also, I have asked him to fill in the 704 Form for paying the Sales Tax, is tht correct?

Can any one pls tell me why do we take Balance confirmation from our InterCompany . I mean importance & need of it. also Balance confirmation from Vendors & Customers.

While Conducting audit it was found that payment for Employees Provident Fund for the PY09-10 has been made in PY11-12 and no provision for the Employees Provident Fund was made in the PY09-10.Is it right? If not then what should be done?