An company has installed an plant in the nov11 but hav not started its operation yet. The plant is ready to be used. The company has capitalised all the expenses in past till as on date as an preoperative expenses. Is company proper in doing so?? Can we claim depreciaton on the same? What would be the Income Tax implication??

Dear Experts,

One of the client falling below tax audit limit, however the audit was done as the profit was below 8 % now the audit has been done and the rertun has been filled. Now the assessee has revceived another paymnet certificate pertaning to preevious year 2010-11 on which tax has been deducted at source,
Now as there is no provision for revision of audt report as per my understanding. Now what is the option available to the assessee.
Is there any liablity on this part of the Auditor.

The new auditing standards which begins with SA series, why is it so numbered? E.g Why basic principles governing audit is named SA-200 & using work of another auditor named SA-600?

Dear Sir,

I want to know that if any assessee his income above 60 lacs and liable for audit. He doesn't file his return up to 30 sept. then it is necessary to submit his audit return to income tax department before sept.

thanks in advance

Can an auditor include the qualifications made by another auditor of a subsidiary company while considering the audit of consolidated financial statements

if we do statutory audit of companies, others,etc and gives our opinion on that ,, mean qualified ,disclaimer of opinion and adverse effect....then after the audit report is signed by both client and c.a ..
my question is that ,wat happened of these kind of opinion's to the client co...?..who are the authorities that can take action against it? income tax dept or roc ..or Mca.....
is there any penalties of these kind of opinions on client co?...
no answer of after action is given in any book...
plz guide...

I have received a call from income tax office that you have signed a audit report of a client and your membership number & name mentioned. . On verification of my record i have found that i have not signed of that client audit. Please suggest what can i do

Dear Sir,

I am doing discrepency audit of a clothing retailer having turnover of 150/- crores.
So I need a format for the reporting purpose.

So, if anyone can mail me the Intenal/Discrepency Audit report format,I will be really thankful to you.

Regards,

Ashmit Mittal

Sir,
My client is covered u/s 44AB but the return was not filed till 30th sep. The provisions of 271B say about the completion of audit before 30th sep. It does not talk about filing of return before 30th sep anywhere. Can my client take a stand that accounts where duly audited till 30th sep but the return was filed on 1st oct? And whether in this case penalty will be levied u/s 271F (Rs. 5000) instead of 271B?

KIND. ATTN.SIR
==============
KINDLY CLARIFY, IF THE ASSESSEE HAS NOT COMPLIED WITH TDS PROVISIONS BEFORE THE DUE DATE OF FILING OF RETURN, WHAT ARE ALL THE QUALIFICATIONS TO BE SUBMITTED IN THE 44AB AUDIT REPORT BY THE AUDITOR. KINDLY ACKNOWLEDGE.
WITH REGARDS
CA.P.SHANGAR