Dear experts,
i run a NPO, registered under the Companies Act, we registered on 15th January 2018, w.r.t this, have queries
a. how should we go about the first audit of the company
b.how much does it generally cost

Sir, if partnership firm turnover below 2 crore & after remuneration & interested paid to partner net profit below 8% can audit compulsory or profit 8%on turnover compulsory before remuneration distribute or after remuneration if firm turnover is 1 crore can profit showing 8% means 8 lakh please guide advice

Mr. A is a dealing in items which bears heavy cess on it under GST (For eg. Tobacco). In the current year his taxable turnover under GST was Rs. 50 Lakhs on which he has paid GST including cess of Approx. 62 Lakhs. What will be his turnover under Income Tax Act. (Kind attention sec 145A which says -
the valuation of purchase and sale of goods and inventory for the purposes of determining the income chargeable under the head “Profits and gains of business or profession” shall be— (i) in accordance with the method of accounting regularly employed by the assessee; and (ii) further adjusted to include the amount of any tax, duty, cess or fee (by whatever name called) actually paid or incurred by the assessee to bring the goods to the place of its location and condition as on the date of valuation.
Kindly reply soon.

Hi,
Made loss in F&O and intraday trading -220000
Made gain by selling shares kept for short term (less than 12 months) +180000
Only income is from FD interest. +132000

Turnover of (FO+intraday+ short term share trading) is 80 lakhs.

Is audit required in my case?
Can I avoid it by not declaring losses in F&O and intraday and simply show 180000+FD interest as my income and pay tax on it. Will 15% be charged in 180000 profit of short term trading?

Sir, my firm previous Year i.e, (F.Y.-206-17)Audited but this business very down position, Turnover below 1 Cores and profit percent 8% and above. What con do it. my query is Audit / Un audit of Income Tax Return file?

A Proprietorship firm having business turnover less than 1 crore wants to show profit less than 8%/6%. Is he required to gets his accounts audited? If in this situation his turnover is between 1 crore to 2 crore than what happened?

What is Spoke Audit? Please give me a reply as far as possible.Its very urgent.

My salary income is 3.80 Lac. During the financial year 2017-18 in F & O trading I bear a loss of Rs. 39,80000/- and gain profit of Rs. 38,20,000/-. Means total turnover u/s 44AB is Rs. 78.00 Lac and net loss of Rs. 1,60000/-. Please suggest whether I will be liable for audit due to 44AD or not. Please

I'm doing audit of a school which is formed by a trust and therefore all the income and expenses of the school are merged in balance sheet of trust and one income tax return in the name of the trust is filed.
What will be the TDS provision on salary of school staff.
And please advice any special thing to check in audit of such school.

Have got an assignment of a Education Trust audit, please help me with the statutory compliances need to check as most important for trust, need a checklist and a format to present the findings if any.