Krishna Prasad V
This Query has 4 replies

This Query has 4 replies

28 June 2011 at 12:27

For LLP

Which Balance Sheet Format should we have to use for LLP?
Is it Schdule VI - As we use for Companies or
Is we treat LLP as any other partnership Firm and use Partnership Format?



Anonymous
This Query has 1 replies

This Query has 1 replies

26 June 2011 at 23:55

Cost Audit

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



Anonymous
This Query has 3 replies

This Query has 3 replies

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.


Sumitha K
This Query has 3 replies

This Query has 3 replies

25 June 2011 at 12:48

Internal control

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.


student
This Query has 1 replies

This Query has 1 replies

25 June 2011 at 04:54

CONSTRUCTION INDUSTRY

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


Abhishek Parulekar
This Query has 1 replies

This Query has 1 replies

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..



Anonymous
This Query has 3 replies

This Query has 3 replies

24 June 2011 at 11:37

NOC from Previous auditor

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



Anonymous
This Query has 3 replies

This Query has 3 replies

24 June 2011 at 11:17

AUDIT

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



Anonymous
This Query has 3 replies

This Query has 3 replies

24 June 2011 at 11:17

tax audit

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


Jitndr
This Query has 2 replies

This Query has 2 replies

24 June 2011 at 09:15

TDS

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






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