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HI
RESPECTED MEMBER

I AM LITTLE BIT CONFUSE REGARDING TAX AUDIT LIMIT OF WORK CONTRACTOR WHOSE TOTAL TURNOVER OF Rs. 1 CRORE BUT OUT OF THIS MATERIAL AND LABOUR BOTH INCLUDED.

1. IF SUPPOSE IN BILL VAT NOT CHARGED SEPERATELY AND SERVICE TAX CHARGE SEPERATELY.

2. IF SUPPOSE BOTH CHARGE SEPERATELY.

PLEASE CLARIFY ABOVE BOTH SITUTION.

THANKS
IN ADVANCE

Hi
Respected Member

Can u help me regarding following.

1. One Client has total turnover of Rs. 70,00,000/- out of which 59,00,000 from sales and balancing figure from service income of Rs. 11,00,000.

2. Same as above case but little change suppose out of above service income of Rs. 59000000/- and balancing of Rs. 11000000 of sales income then what will be the answer from your side respected sir.

is it tax audit case?
if yes may i know the exact provision of this where it is written?

what is propriety audit?

Hi Friends,
Help me on my querry :

one company is incorporated on 13th March 2007, the accounting year suppose to be till 31st March 2008 or 30th June 2008, (in case extended to 15 months) but the directors in board meeting have extended the accounting period till 30th August 2008.

Whether accounting period can be extended in board meeting beyond 15 months? If not what is the procedure to extend the Accounting period?

Annual filing for that perticular year with ROC has done.

Regards,

Dipti Parab.

Can any one explain in detail regarding reconciliation of bank accounts

Dear all,
Like in Income Tax Act,if a turnover of business exceeds the specified limit mentioned in the sec-44AB, similarly is there any provision or criteria for companies to get audit?or else every company has to go for audit irrespective whether it is pvt or public ltd?

We are planning to write off some creditors balance from our books of accounts.

While passing entry for the same which account we have to credit

ie Sundy Creditors A/C Dr

To ?

recently i appointed as Internal Auditor of a Real Estate Company. they started building flat in 2010 and booking is going on but till now they are not intrested in charging and paying service tax. they simply say, matter is still in court.
i advice many times. what u say?

second question is..... what are audit programe in case of these type of company?

In ceiling of audit its mentioned that if the partner is a full time employee else where he doesnt get any audits to do.But if he is an employee else where wont he fall under the disqualifications u/s 226 ?and the firm wil get disqualified as an auditor?please advice