I have recently begun my ca firm. Which bok should i read for tax audit u/s 44AB. Will the guidance note on audit u/s 44AB by ICAI suffice?????

A Businessman is showing profit of more than 8%. But, he is filing the ITR U/s 44AD.

My Query is : Is it mandatory for him to get his financials audited, for the reason that he is declaring a Profit of more than 8%? And, What is the procedure of maintaining the Books of Accounts U/s 44AD?

sir my name is kumar.my doubt is what is tax audit?will you give brief explain about tax audit?

DearExperts,

My client deducteid TDS u\s 194C rather that 194J..

Wht is ethe remedy he could take now.....
1) CAn ihe adjust the same in next bill
2) or is there any option open to him
3) What arelegal consequences in this regard....

sir, i lack writing skills and loose marks.this may am to appear for itsm and audit exams.could you please provide solution to my problem.

Can any one provide me format of audit report of a Society, engaged in promotion of art & culture, not registered with income tax for availing 80G benefit, and wihich IT form will be used for filing IT Return

Already posted for the experts to reply but i did not got any reply thats why again posting today.
Respected Experts,
Inventory consists of
(a) Raw Material
(b) Work - in progress
(c) Finished Goods.

Suppose if on year 1 the closing raw material is Rs.100 closing work in progress 200 and closing finished goods is 300

and at the end of year 2 the closing raw material is Rs. 80 , closing work in progress is 250 and closing finished goods is 430.
My doubts are

1) How it has to be shown in the credit side of the Trading & P&L a/c for the year ended 2 and also in the balance sheet?
2) I have seen in many financial statements it is shown with brack some times without bracket sometimes. What does this mean?
3) If inventory is more than the year one whether we should add or less it?
4) If inventory is more than the previous year means whether it is income or expense?

Please clarify me regarding the same. Thanks for all the experts who are so generous to share their expertise with me.
With regards,
Rajesh.

Dear sir,
what is the tds last date of payment of 4th quarter for the f.y.2011-12.& return last date kindly resolved my issue

Hi my name is Hina i m an article assistant
I wanted to know how are we suppose to verify Subsequent movement in debtors

hi ,
i recently started my article-ship and i need to know which provisions and rules and sections of income tax,vat,s.t. are required to be known for doing good vouching.pls friends help me by replying my query .

thanks