Whether the various CARO requirements are applicable to Private Companies?

IF TDS NOT DETUCT ON TESTING CHARGES Rs. 33875/= AND WATCH & WARD EXPENSES Rs. 116323/= BY PARTY IN FINANCIAL YEAR 2010-11 HOW CAN CALCULATE TDS IN NEXT FINANCIAL YEAL 2011-12? AND PLEASE SEND ME ON MY EMAIL ID ranaraghav786@gmail.com TDS RATES CHART & TDS CALCULATOR FOR FINANCIAL YEAR 2010-11

THANKS

Your firm has been appointed as Central Statutory Auditors of a Nationalised Bank. The Bank follows financial year as accounting year. State your views on the following issues which were
brought to your notice by your Audit Manager:
(a) In computing the aggregate of funded and non-funded exposure of a constituent for purpose of assigning risk weight in regard to capital adequacy, the bank "Netted off' the credit balance of Rs. 10 lakhs in their Current Account against the total exposure of Rs.1crore.
Pls provide answer with conclusion for above question.

One of our client has taken bank guarantee from a bank. The beneficiary of the BG is a vendor of the client. The duration of the BG is seven years. Since the commission for bank guarantee is for huge amount, this can be charged to the Profit & Loss Account over the tenure of the Bank Guarantee?
Please reply in the light of AS-26 and As-29

Hello Friendz
Plz tell me the valuation method of closing stock to be followed in case of hotels
and what to include in closing stock means they will have raw material for preparation of food etc, liquor and many other things
Is there need to use different method of valuing different items??
Plz guide me in this respect
thx

When cash recovery is made in any NPA account what is the next step in regard to its overdue interest whether it should be debited in the account

The company i am auditing is engaging contractor for labourers and paying the contractor.The contractor is not paying ESI charges to the labourere and so the company is paying ESI on behalf of the contract labourers in addition to the payment being made to the Contractor.

Will the ESI payments be a aprt of my "Contribution to PF & Other funds "in P& L or it will be clubbed with the professional charges expense.The contractor laboueres are not appearing on the payroll of the company.

Pls send me which auditing standards applicable for ipcc nov 2011 exam. Tanx in advance

what is tax audit & normal audit

IF ADVANCE MONEY RECD FOR SALE OF PLOT THEN 269SS WILL BE ATTRACTED OR NOT .........ANY CASE LAW.

B/C IN ICAI GUIDANCE NOTE IT IS GIVEN TO EXCLUDE ADVANCE AGAINST SALE OF GOODS.....

URGENTLY REPLY