sir i would like to know that I m working in Automobile industary and our turnover is more than 100 crores immediately last Financial ,is the Cost Audit & Cost Recors certification is applicabe to us, from FY 2011-12
as per the nodification on 2&3 june 2011

hi
Please tell
- is meal coupons(or vouchers e.g. ticket restaurant or sodexu food coupons of 1500) to be included in Rs. 15ooo limit.

- What are the components to be excluded or included, is bonus to be included in limit?

Kindly clarify
have read the act but still not clarified.

Hi Exeperts,

In below case can you suggest best internal control:

Cheques received in the company are entered in cheque register and the same goes to bank for deposit. suppose the person fails to make an entry into register either intentionally or unintentionally how to detect and what controls can be put in place to check that.

WHT R THE MATERIALS REQUIRED TO BE STUDIED WHILE DOING THE AUDIT OF CONSTRUCTION INDUSTRY

in London and bank limited case law for audit(ipcc), the auditor was punished for wrongly reporting the balance sheet as 'full and fair', and was ordered to pay the dividend wrongfully paid.

The primary objective of an auditor being expression of opinion, was the auditor penalized specifically for expression of an incorrect opinion? The assets in the signed balance sheet in this case were overvalued.

In my opinion, overvaluation may be due to fraud or error, and the auditor can not be punished for subsequent detection of fraud or error.

Kindly advise..

How much time to wait for NOC/any communication from previous auditor after sending letter to him.

CAN A CA DO AUDIT OF A FIRM WHOSE PROPRIETER IS HIS GRANDFATHER AND HIS FATHER IS EMPLOYED THERE GETTING SALARY FROM THERE.

if i have tow proprietory concern having turnover 45 lac & 50 lac & profit 11% in both firm is income tax audit applicable for me

As per Income Tax Act, TDS rules is to be followed by an individual, if he comes under audit u/s.44AB. However, TDS rules are not applicable in the first year of audit.

In our client's case, it was a partnership firm and the client was following the TDS rules. Due to removal of a partner, it became a proprietorship firm. The business of the proprietorship concern exceeds Rs. 60 Lakhs.

My query is whether the proprietorship concern is
1. liable to deduct TDS
or
2. not liable to deduct TDS as it is first year of business/tax audit of the proprietorship concern

A lecturer has been given 20000 for some research . Now he has to give the details of expenses to his authority attested by CA after which balance sum will be alloted to him.He has prepared in detail the expenditure statement along with supporting vouchers and want certificate from CA .
Plz tell me as a CA what will be the form of report which will be given .