if the books of accounts are not audited u/s 44AB , will he be liable for penalty if he is covered u/s 44AD and not showing income of 8%?

can anyone suggest me about the best teacher for ipcc audit class in delhi. pls help me soon.

I want to ask query regarding accounting treatment for the following:
My client has ECB and from that borrowings it has imported Machinery which was capitalised last year and depreciation also provided on same.
Now during this current year it is found that there has been some problem in machinery and client is not going to pay the remaining amount to party and even machinery is not in use. So what can be accounting entry for the same? Pl advice.
Thanks

From A.Y. 2011-2012, New section 44 AD is applicable to any business.

A partnership firm doing manufacturing business having T.T. O. Rs. 55 lacs for 2010-2011.
Whether is it compulsory to show 8% profit of total receipts

Can it show 8% profit with out giving b/s and profit and loss account

pl. clear that the gross receipt Rs. 60.00 lac amount of commission received during the year or sale proceeds of consignment sale,in the case of aharti(vegatable and fruits)

thanks

Dear Expert,
Please let me know what is the eligibility or limit beyond which accounts need to be audited by a C.A.for income tax as well as for sales tax?

I Am Very much Confused abt which book shouid be read to target nov'12 final exam. the book which give knoledge cover full.
i m reading Currently URVISH SHAH'S Book.
proper guidence required.
For nov'12 when i should buy all sub's reference book?

Dear Experts ,

What is the treatment if a company takes a building on lease on outright payment of Rs. 15 lacs for 99 years, with monthly rent of Rs. 5000/- p.m.

thnx in adv

i am feared of reading of law & auditing.i don't have sufficient time.i am so scared.can anyone suggest me anything which will be helpful to me please.send to mail nandini.ainala@gmail.com

I am auditing a company. It has changed its name to another name and also changed its manufacturing activity.
it has transferd the expenses up to the starting of production activity to PRE OPERATIVE EXPENSES.
is it right ?
I want to know all about pre operative expenses.
plz reply soon.

thanks.