Suppose a person carries on a retail trade having a gross turnover Of 250000/- and a wholesale business having turnover of 5800000/-. Is he liable to get his books of accounts audited u/s 44AB. If Yes, Then please reply soon and also refer to any case law, if any.

An oil company proposes to install a pipeline to transport crude oil from the wells to the refinery. Investment and
operating costs of the pipeline vary for different sizes (diameter) of pipes. The following details have been
collected:
Pipeline diameter 3" 4" 5" 6" 7"
Investment required (Rs lakh) 16 24 36 64 150
Gross annual savings in operating costs 5 8 15 30 50
before depreciation
Estimated life of the installation is 10 years. Tax rate is 50%.
Questions:
1. Calculate the net saving after paying tax and generating the cash flow. Recommend the largest pipeline to be installed if the company desires 15 per cent profit after tax return. Also indicate the proposal that has the shortest payback. Assume the company follows the straight-line method of depreciation, and there is no salvage value of pipeline after ten years.
2. Why is the Net Present Value method of evaluation superior in evaluating capital expenditure decisions?

I have started my practice as proprietor firm recently and i am also interested in simultaneously joining as a partner in a firm.
I would like to know whether i will be disqualified for bank audits at the time of empanelment

Thank you

what is the procedure for numbering of fixed assets for audit by physically verification.

if any specified format for numbering of fixed assets, then provide me that format.

it's urgent.

your frnd
Ram

please give me suggestion in following:-

If a COP holder CA is becoming partner in a partnership firm and now he also want sign some audit report in his personal name (he is not having proprietorship firm).

is he can?

If purchasing cost of a asset is
further, in next month, if we purchase also same asset costing
Please suggest me.

AN ASSESSEE HAS 3 DIFFERENT NAME OF BUSINESS.
SAY AS A(CEMENT BUSINESS), B(PAPER BUSINESS) & C(CONSTRUCTION BUSINESS).
I HAVE TO DO THE TAX AUDIT OF THIS ASSESSEE.
WHETHER 3 SEPERATE BALANCE SHEET, PROFIT & LOSS A/C & TRADING ACCOUNT IS MADE OR SINGLE BALANCE SHEET IS MADE & SEPARATE TRADING & PROFIT & LOSS ACCOUNT IS MADE?
WHAT SHOULD BE DONE?
WHAT ABOUT 3CD?
PLEASE TELL WHAT SHOULD BE DONE?

If an auditor has given adverse opinion or disclaimer of opinion then what would be the repercussion on the auditor.

If there is any guidance note...please also share that...

hello sir for audit of debenture which form can be demanded from client;

is it a good option to go with book of KAMAL GARG for auditing ?