Dear sir/Madam,
How the auditors remuneration is calculated is there any provisions in COMPANIES ACT regarding remuneration.Is auditors remuneration depends upon the turnover or else on any value please clarify me

( 1 ) An individual running business in Financial Year 2011-12 has sales of Rs. 58,00,000/- but he has not shown profit upto 8% instead he has shown profit of Rs. 2,28,000/-.... so is audit compulsory to him for Assessment year 2012-13..??

( 2 ) If in above question if audit is compulsory will deduction of TDS from next year compulsion to them..??

Dear Sir,

We have a very genuine and authentic idea/plan(s) for starting a MLM business. Mostly it is observed that these types of companies start and wind-up with heavy losses and finally they have to run away with publics money. But in our case this is not the scenario.

We are private limited company based in mumbai and having fanancial related products such as wealth management, fund management, portfolio management, insurance (domestic as well as overseas), loans, demats, tax saving bonds, infrastructure bonds, etc etc..

But the product we want to introduce in this multi-level marketing does not pertain to these financial products. It's a unique product and most attractive to everyone. And therefore we aim for the longest time to sustain in the market, as far as the people doesn't stop us, that would be our limit.

But the apprehension is, we have a product, knowledge, and everything. But we do not know what are the legal documentations required from the governing bodies. Basic documents such as VAT/CST no. are already obtained. But apart from that what other documents are required to start this MLM scheme, also if you can let me know the procedure for the same, it would be really helpful.

Most important is, obtaining of legal documents? Certifications? Permits? Etc. How to?

Please be so kind to give us the valuable response, it will be highly appreciated.

Thanking you.

Regards,
True Business Person.

Should Advances given to creditors be reinstated as on 31st March. Creditors having debit balances as on 31st March should be reinstated?

Dear All,

If a C.A is working full time for a CA firm but not as salaried employee but as an individual professional and is holding a full time COP, can he sign an Audit Report on behalf of the firm, or he needs to be partner in the firm to sign it?

there is two division of a pvt. ltd. co.

please tell me
1) how to make audit report of the co. whether it should be consolidated or not..?

2) which balance sheet will be shown in the income tax return.. consolidated or not..?

dear experts how can i audit the R.A bills of construction company

On of my client of whom i am doing audit has shown the expense on soil testing as Capital WIP...
As per my view the same should be expense out.

Kindly help me in this regard asap.

Respected Sir\madam,
I am Very thankful to all of you for your kind Support in earlier.

This time My Problem is this I have Partnership Firm Assessee Which make loss this year

As per Rules PROFIT less than 8% of Turnover it it necessary for TAX AUDIT.
But i am confused that The Firm Has Loss
So weather Tax Audit Applicable for that or Not?
Please

Thanks and Regards

ANKIT GOR

Is cost audit mandatory for companies which are yet in their project stage and have not started production?

Regards,
Rishi