Hi
respected member

Can any one tell me?

1.I am doing tax audit of partnership firm which carrying on work contract in GUJARAT.

2.In such firm payment from outside gujarat is receive but due to work contract exceed 1 crore TDS is deducted by Maharastra state.

3. But credit of such tds is not allowed in vat return according to the G-VAT Department

4. so what to do for take credit of such TDS or any way by which TDS will not be deductible by other state by giving any form?

If there is any reconstitution in a firm which is subject to Tax audit , i am required to prepare P/L a/c , P/l Appropriation Account etc for each different periods viz, before reconstitution and post reconstitution . How should this fact be disclosed in Notes to Accounts ?

Sir I'm doing Audit of a trading firm where the Gp is around 4-5 %...
By making Comparative I came to know this year Gp has Fallen to 3.75% against previous year of 4.5%...
The ratio of purchases to sales was similar 96%.. but Closing Stock to Sales have Fallen from 4% to 2.5%...

Then I made a diff. Trading A/c for all the Components where I came to know about the food Products which are showing only .75% Gp to sales.

So plz tell what could be the matter in this case... Plz tell all other alternatives that I can do...
Thanx in Advance..
Plz reply.. U can ask other things also in relation to this

please provide me internal control checklist or questionnair to keep in mind while auditing internal control system of the company relating to fixed assets

Hello friends, i need certain clarifications regarding Tax Audit. 1. Whether the penalty paid by an assessee is to be shown against the relevant clause in 3CD even if the same was debited to capital account in case of prop./partnership as the clasue requires the words books of accounts.
2.In case of part B of Annexure 1 whether the advance tax paid should be shown in the relevant coulmn of taxes paid of provided for on income.
3. The last one is about sec 43B, whether the TDS/VAT etc. which were never made part of item debited to P & L, so do we need to consider while considering the compliance of 43B.

Dear Experts,
My auditor has asked me to make ledger scrutiny to a tax audit firm (business income).
This is the first time i am going to do that.
I know that it is not an easy question to answer becuase there will be lot of points to be considered. But pls. inform me what are the important points to be noted in case of
(1) Sales
(2) Purchases
(3) Assets - Is it enough to see new purchase of assets.
(4) Cash in hand
(5) Bank A/c - whether BRS available
(6) Liabilities
(7) Expenses - operative & non-operative.
(8) Income - Operative & non-operative.
With regards,
Rajesh.

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