INVESTMENTS PURCHASED BY COMPANY BUT DELIVERY NOT TAKEN.

WILL IT AMOUNT TO FRAUD?

Can the company in its AGM/ Directors(as the case of first appointment of Auditor) appoint an Auditor who is relative of one of the Director(say Brother)?

Similarly can a firm under tax audit appoint an Auditor who is relative(say Brother) of one of the parter of the Firm?

Is the term " Relative" is defined under The Companies Act?

Whether an Auditor who is relative(say brother) of a Director of the Company can be appointed as an Auditor of the Company?

Similarly, whether Auditor who is a relative(say brother) of one of the partner of a Firm, can be appointed as Auditor of the firm(Under Tax Audit case)?

Brijesh.

in case of resolution for appointment of auditor, the amount of feees which needs to be quoted should be only astatutory audit fees or it can includes statutory audit fees,tax audit fees and income tax return filing fees.Kindly confirm.

WHAT IS A PERSUASIVE EVIDENCE?
AND WHAT IS CONCLUSIVE EVIDENCE?

THE STATUTORY AUDIT OF A PVT.LTD COMPANY HAS NOT BEEN COMPLETED BY ANY OTHER REASON AND THE DRECTORS OF THE COMPANY ARE DESIROUS FOR TAX AUDIT REPORT UNDER THIS CIRCUMTANCESS WHICH FORM IS APPLICABLE FOR REPORTING OF AUDIT U/S 44 AB OF I.T ACT , FORM 3CA OR FORM 3CB.

A CA and a lawyer enter in an agreement to pay each other 12% of gross receipts received by them from clients referred to each other.

Will the CA a practising member b guilty of prof misconduct?

Since Bar council of india is one of the bodies prescribed by the council.(wherein a CA can enter in agreement with a member of a prescribed Prof body.)-Clause 2 Part 1

Suppose if a company is formed on 15.03.2010 & company wants to get its accounts audited for the financial year 2009-10.The authorised paid up capital of the company is suppose 10.00 lACS & the bank account was opened on 05.04.2010 .subscriber to MOA issued the cheque for the shares mentioned in MOA ON 15.03.2010 but the fund was cleared on 06.04.2010 as bank account was opened on 05.04.2010.Now in such a situation what would be the paid up capital of the company for the financial year 2009-10.

Dear Sir/madam
for appointing auditor S.R. is required if 25% or more paid up capital is held by any govt. company, general insurance co., nationalised bank, or any other financial institute. but if on the date of notice share held is less than 25% and on AGm it is more than 25 % then how can we pass S.R. since there is no business in notice specially mention that S.R. Will pass at AGM.And if we adjurned the meeting then also we can not pass S.R.since notice is to be given for 21 clear days.

Please Help

As per sec.44AB, a person is required to get his accounts audited if his total sales, turnover or gross receipts exceed 40 lacs (60 lacs w.e.f.AY 2011-12). A person having his gross total income below the taxable limit for any AY need not file his return of income. So, looking at these 2 things, can a person escape from tax audit as he has income below the taxable limit & so need not file return. ITD uses Tax Audit Report to facilitate assessment of income but if a person is not required to file his return of income at all then can he avoid tax audit?

Plz advise