1) If the client insists on tax audit voluntarily, i.e, out of precaution u/s 44 AB , the firm is investor in real estate/ plots /lands , the amount invested in lands /plots is more than 6000000/-,and the amount is contributed by the partners.
whether the above audit will be included in the limits specified by ICAI.

2) For inclusion in the Tax audit ambit , if the purchases of client are more than 6000000, but sales are less than 6000000, than whether the tax audit u/s 44AB is applicable ?
and in above point 2, if irrespective of provisions 44AB , client goes for tax audit ,
whether that audit will be covered in the limit of 45 tax audits by ICAI.

what is the accounting for contributions made to gratuity trust maintained by the private company for paying gratuity to their employees????
Whether the company has the liability to pay tax on the interest received on fund with LIC????

If the company till now not obtained PAN number, but obtained approval from the Income Tax Dept, whether it is liable to pay tax on the interest income earned on the fund with LIC????

for every month i incur staff welfare expenditure through petty cash, where not even single exp cross Rs. 20 K .... but in my books i pass 1 time transaction at the month end which is approx Rs. 50 K every month....
will this attract Sec 40(A)3 ??

i want to know that balance sheet should be signed by sitting Directors in that respective years only or even Existing Directors can sign the Balance Sheet. because in our company directors as on 31st march have been resigned after after 31st march and he is no more with our Organisation. can you suggest me?

Can a CA sign a Balance Sheet by printing the same on his letter head: I am asking for: In case of small tax audits , where the assessee is required to submit to loner bank, PLEASE ANSWER WITH REASONS AND CONSEQUENSES

Dear sir if any person has a sale of Rs.30 lacs and is having a loss from business and he is not filling his return on presumtive basis for last years.
He is maintaining all books of accounts.
So will he have to get his accounts audited to show a loss as it will be less than 8% or this section 44AD is only used when desired by assessee and in this case it is not compulsary to use it,

Dear Experts

Please guide me regarding "Closing Stock Valuation of Manuf. Co".

How it is worked out & what are the important points to be kept in consideration with regard to various Acts and laws.

You can give example of "ROLLING MILL"

Very thanks for sparing time and suggestion.

Regards

Sir,

i am on audit of a private company, after checking the books of accounts i found that telephone expenses of company are paid by the director with his personal Bank A/c.
Can Director of company make the payments of expenses of company from his personal Bank A/cs or credit cards??

Kindly help me on above...

Sir during tax audit assignment of proprietorship cases whether we have to audit the personal properties of proprietor and such personal properties also to be included in income tax return to IT dept, pls clarify me

Sir

If a company is not having Fixed Assets(being sold out) and not having any turnover and its going to wind up in near future, what points we are required to mention in Audit Report regarding Going Concern Convention.

Thankyou.