Ketki
This Query has 2 replies

This Query has 2 replies

09 June 2010 at 12:41

tax audit limit u/s 224(1B)

PLEASE LET ME KNW FROM WHICH YEAR CEILING FOR TAX AUDIT HAS INCREASED FROM 30 TO 45



Anonymous
This Query has 2 replies

This Query has 2 replies

09 June 2010 at 12:28

Sales

A firm raised bill for difference in price for sales made in yearlier years. Then how to treat it?



Anonymous
This Query has 1 replies

This Query has 1 replies

09 June 2010 at 11:57

W/off of Assets

Is there any requirement as per Co,s Act to w/off asset in the year of acquisition if amt @ which it is purchased is less than or equal to Rs. 5,000/-, If so, can you tell me the Sec No./Rule No. etc


CA Ysil Karunai
This Query has 2 replies

This Query has 2 replies

09 June 2010 at 08:56

Audit Report

Dear Sir,
Please consider the example:
XYZ is a private Ltd company,who follows the Depreciation method's according to the Income tax Act and not as per Companies Act from the date of Incorporation of Company itself. This is the Third year of company in operation.
Query:
1.If management not willing to provide Depreciation as per companies Act, How should Auditor Quantify and Qualify the Audit Report?
2. As a statutory Auditor how should deal this issue according to CARO? Assume CARO is applicable to this company?
3. If company willing to provide Depreciation at the inception of operation itself What is the effect of Adjustmnet in Opening Reserve and Deferred tax Adjustment?



Anonymous
This Query has 1 replies

This Query has 1 replies

08 June 2010 at 18:36

Goodwill on consolidation

Dear all, pls treat this query as urgent..
if an entity is holding 100% in its subsidiary...and in the current year, makes additional equity investment still holding 100%, will goodwill on consolidation arise?

Note 1: Goodwill did not arise during 1st investment
note2: shares are issued at par

urgent pls


CA SONI KRUNAL
This Query has 1 replies

This Query has 1 replies

08 June 2010 at 14:22

CARO

WHETHER WE HAVE TO REPORT IN CARO YEAR WISE,I.E. E.G. COMPANY HAS NOT RAISED ANY LOAN IN THE C.Y. BUT HAS OUTSTANDING LOAN OF LAST YEAR, SHOULD WE HAVE TO REPORT ON UTILISATION OF THAT LOAN?

WHETHER WE HAVE TO FOLLOWE CARO WORD BY WORD ORIGINALLY WRITTEN OR WE CAN USE OUR LANGUAGE?

IS IT COMPULSORY TO FOLLOW SEQUENCE IN CARO?


Guest
This Query has 2 replies

This Query has 2 replies

08 June 2010 at 08:09

stock Statement

What is Stock Statement(For CC limit in Banks) ?plz give full information.


Deepali Mishra
This Query has 1 replies

This Query has 1 replies

07 June 2010 at 21:06

holding subsidary relationship

If the CFO of a company and any relative of the director of the company is the director of other comapny then does the relationship between the two companies stand to be holding subsidary relationship?
if not then what then as an auditor what solution can we give to our client in such situation?



Anonymous
This Query has 1 replies

This Query has 1 replies

07 June 2010 at 14:04

accceptance of audit

please tell me about whethter the incoming auditor can accept appointment if the previous year audit report was qualified.
In the same case wheather the retiring auditor can take objection in case of qualified audit report issued by him in previous year at the time of intimation of appointment.


kunal
This Query has 1 replies

This Query has 1 replies

05 June 2010 at 17:09

consolidation

hey frnds..
i want detail explanation on consolidation of accounts when accounting year of both the company is different.. subsidary company is foreign company.. can anybody tell me the site or provide me any word file which gives idea of different issues regarding this...
thanks...






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