three firms have been invited by cooperative bank for conducting the statutory audit and asked to give quote.
Three have given quote say 100, 75, 150. the special officer has bargained for 50. two people who have quoted 100 has accepted for 65 and another one who has quoted 150 did not accept for reduction. a person who has quoted 100 has accepted for special offer of 50. all the offers has been openly discussed in the hall in the presence of speical officer, and inspectors of the bank and the auditors. is there any violations of ethics by the person who has accepted so offcer. kindly breif me

Dear Sir,

We Would like to draw your kind attrention on the fact that :

one of our client is engaged in the business of Manufacturing of Brass Scrap And

Our client is Purchase URD Machinery form Some Persons & Payament has been made afterwords for more than 20,000 ?

Is it allowable?

Kindly Reply as early as Possible.

Thanking You In advance.

Dear Sir,

We Would like to draw your kind attrention on the fact that :

one of our client is engaged in the business of Manufacturing of Brass Scrap And

Our client is Purchase URD Machinery form Some Persons & Payament has been made afterwords for more than 20,000 ?

Is it allowable?

Kindly Reply as early as Possible.

Thanking You In advance.

What are the various cost records to be maintained by a construction company?

Dear Sir / Ma'am,

We are a Pvt Ltd. movie production company and we hire various studio's for shoots. Do i need to deduct TDS of 10% or 2% in this situation?

2. Also we do sumtimes shoot outdoors where we stay in hotels, shud i deduct TDS there as well? How much wud tht be? 10% or 2%..

Can anyone please tell me whether the AS-18 is applicable on a non listed COMPANY having less than:

(i) Rs. 2 crores of turnover
(ii)Rs. 3 crores of borrowings

And whether AS-18 disclosures are to be made in notes to account of such company?

pvt ltd co. paid rent every month rs.22500 from last nov-2011 last f.y we did not deduct tds on rent but now this year tds is applicable but our landlord told me he is not liable for tds as per agreement total rent amount 1st apirl 12 to oct 12 rs.157500 , he told me you will be deduct tds after oct or over limit 180000/- is it possible or not?

I got this naggindg doubt owing to some info I got from colleagues that last year, the restriction on audit of related concerns has been tightened.
My query is:
"Can a CA do the audit of his near relative's accounts for 2012-13 asst.? I am quite aware that a note is required highlighting the fact of relationship. My question is on the specific situation where the Auditor has absolutely no stake in the Auditee's business, which is a proprietorship concern. Please clarify.

Dear experts,

Kindly explain the audit of Cash and bank balances in detail?

Also explain the cut-off procedures in respect of bank balances?

I require a sample Balance Sheet, P&L A/C and Notes in complete as per the Revised Schedule VI in excel format so that I can use the same to prepare the financial statements as per the current requirement. Mail ID: mittalnikesh@yahoo.co.in