Whether a club is liable for Tax Audit U/S 44AB of the I T Act
Following are the receipts of the club

Annual Subscription Rs 7.00 Lacs
Membership Fee 31.00 Lacs
Bar Sale 10.00 Lacs
Lease Income 10.00 Lacs
Card Room, Billard Room
Kitty Hall etc charges 13.00 Lacs
Total 71.00 Lacs

Please advice
Thanks

in many cases the company receives the goods from vendor and then the company places the purchase order for the goods received.
(the reason being it is not possible to place the order first because of some technicle knowledge required,)
the company's purchase policy is silent on this matter, as an internal auditor i want to put this matter in audit report.

I run a Manpower Recruitment Agency and I am expecting my total gross receipts for the FY 2010-11 to be more than Rs 20 lakhs. Can you please tell me if I need to get my books audited? If yes, where can I find a good auditor, who does not charge me too much. I am in Mumbai.

I also want to know that being a porprietor, can I claim exemtion of medical bills?

Dear Friend,

Please Say a Propriter has taken Personal Loan.Is Personal Loan Secured or Unsecured Please Reply.

A Prop has made Recurring Ac should it be grouped under Investment or Current Asset.

Thanks & Regards

Survesh

Hi Experts,

A real estate company has purchased a property and let out the same on a rental basis.

However, it has accounted the same as a Fixed Asset and claimed depreciation.

I am of the opinion that the same should be shown as an Investment.

Kindly provide your inputs to the said matter.

A company wants to declare dividend to non residents, so they have to file RCD 1 and 2 with the authorised dealers which has to be certified by auditors. Is it necessary to be certified by the statutory auditors.

Can anyone provide me with a format of CA certificate for end use of the working capital loan obtained?
Thanks in advance.
Please its urgent.

What is SERA Audit? and what are the main objects and requirements of such audit?

NPA:-

Suppose, If the account is classified as NPA since February month due to non payment of Principal. As per the Revenue Recognition policy of the Bank, interest from NPA Account is not recognised by the Bank as an Interest Outstanding from the account. If, on 30 Th March, some amount of the principal instalment say Rs. 300 out of 1000 is deposited into account. In this case, whether that account needs to be regularised i.e. Upgradation of NPA?

Is it mandatory to put revenue stamp on payments over Rs.5000/-?