Dear Experts

We have one proprietorship company..

Now we bought some gold for Rs.1,00,000/- through company bank account. Bills has received from the buyer in the name of company..

Please advice how account. It has come under owners drawings or company asset..

Thx & Rgs

Harsha

An assessee is carrying two business. The Turnover of first business does not exciding 60lacs, but The Turnover of second business exciding 60 lacs. Is the assessee liable for Audit U/s 44AB for the both businesses?

hey guys i ve doubt here plz solve it

what is d diffirence between govt. audit and audit of govt. companies

One retailer's annual sale is 50 Lac and he maintains books of accounts. If he presumes section 44AD and declares less profift less than 8%. Can he declare his actual income on the books of accounts without going into audit of accounts?

Dear Colleagues,

Can some one clarify whether in following case I.Tax Audit U/s 44AB is applicable.



90, 00,000/- Op. Stock

2,25,000/- Purchases

12,00,000 Purchases Return (out of Op. Stock) within permissible time limit

1,00,000/- Sales

79,35,000/- Entire Stock retained (taken) by one of the Partner, for which his capital a/c is debited at book value of stock and accordingly as on 31-03-11, the said Partner’s has –ve capital bal. of Rs. 50 Lac.

10000/- Gross Profit

2000/- Net Profit

I HAVE A QUERY REGARDING DISCLOSURE OF "PAYMENTS MADE TO RELATIVES".

I HAVE MADE PURCHASE FROM MY RELATIVE, AND MAKE SOME PAYMENT IN THIS RESPECT.

THEN WHAT I HAVE TO REPORT IN 3CD CLAUSE NO. 18. RELATED TO SECTION 40A(2)(b), PURCHASE AMOUNT OR PAYMENT AMOUNT.?

Hi!

One of the my client has not been paid professional tax for the f.y. 2010-11 till the date of audit. Is any amount is disallowable?If Yes, then what amount is disallowable and under which section?

Do provisions of section 224A- (Appointment of auditor by special resolution) applies on appointment of first auditor also?

please provide the guidance for studying audit. i m referring padhuka and plz sugeest some method to study it throughly nd remember it. if any further idea is there do share.

whether sales tax paid after the due date of return u/s 139(1) whether allowed as expenditure. and also clarify if the return is filed before due date and the tax is paid after filing the return but before due date.