Will u please tell me if the CARO applicable to a private limited co. having a net worth of Rs. 35 lakhs, Turnover exceeding Rs. 5 crores and loan from banks exceeding Rs. 25 Lakhs. Two of the ocnditions for the applicability of CARO are met and one condition regarding net worth is not met. Then CARO is applicable or not?????????

Dear All,
One of the company has never provided the Deferred Tax assets/liability in the books becaue of losses. In the current F.Y. DTA/DTL has to be provided in the books. In the c.y. there is a profit and As per Income Tax Act all brought forwards losses and depreciation will be allowed. please advice whether DTA/DTL would be made on brought forward losses and depreciation also.

Does an employee have an option not to opt for PF if his salary exceeds Rs.6500, or payment of at least Rs.780 is compulsory.

Thanks in advance

please tell me how to do finalisation of audit and how to do leder scrutiny of profit and loss items like freight charges etc

A co is a subsideary co of B Co and B co is a substantial interest in C Co.
If A co sum transaction with C Co.
Than A Co & C Co is a related party & this transaction disclosed in notes to accounts.


prashant kumar

Hi, I'm Preparing for CWA Stage-2 June 2010 Exam Under 2002 old Syllabus. In the Previous Attempt I have scored very less marks in the subject "Auditing". Please Suggest me how to improve this subject.

A Chartered Accountant in practice as well as firm in practice, shall maintain a record of audit assignment accepted by him in "PRESCRIBED MANNER"

My query is that, any format given by institute for maintenance of these records....?

a listed company has apointed xyz & co CA for FY 2009-10. The auditor does not have a peer review certificate so the directors claimed that as per the notification by ICAI the auditor is not qualified for the audit and appointed ABC & Co. as their new Statutory auditor by filling casual vacany. Is the contention of BOD correct?

Is it possible to Divide the rent agreement in to 2 parts i.e., Saperate Agreement of Maintanance and Rental Agreeemnt
Ex. Rent Agreement for Rs. 10000/- PM and Maintanance is for Rs. 3000/- PM,
Insted of Rs. 13000/- PM as Rent

I want to know that whether a member of ICAI holding full-time CoP and being a partner in CA Firm can be appointed as Statutory Auditor in his individual capacity by a company in its Annual General Meeting.