Which of the following statement is true for the purpose of AUDIT with regard to F&O turnover :-

A) The total difference between Buy and Sell price of F&O contracts is taken to calculate the 40 Lakh limit, i.e. the profit + loss + premium on options recd + premiums paid.

B) The total difference between Buy and Sell price of F&O contracts is taken to calculate the 40 Lakh limit, i.e. the profit + loss + premium on options recd (By selling option contracts).

If a company has purchased any sort of paintings and antiques years ago. What are audit considerations or check list to verify or check valuation of that paintings and antiques while conducting audit ? Is it possible to rely on any sort of valuation report of the same for audit purpose as generally valuation of such things are not possible ?

Is it required to file returns for branch ?

CA PROPRIETORY FIRM HAS TURNOVER OF 11 LACS ( PROF FEES) WILL IT BE SUBJECT TO TAX AUDIT.
ALSO IF ANSWER IS YES, WILL SERVICE TAX COMPONENT CONSIDERED AS PART OF TURNOVER FOR TAX AUDIT OF PROPRIETORY CHARTERED ACCOUNTANTY FIRM

A firm has 3 partners, so in aggregate the firm can have 90 audits. So my querry is whether 1 partner can sign all 90 Balance Sheets? If answer is negative, give the limit on "Signature" to number of Balance Sheets, and if affirmative give source.

can u explain diff of statutory and tax audit????

hello



do we have to check out every year whether caro is applicable or not OR once applicable it will continue???????

I want to know the verification procedure to be followed while doing audit of PAY ROLL of a company?

Dear Sir,

Please say me;
My firm is partner ship firm.We deal with Prop Firm.I Want to ded TDS on Bills Credited.Please Say me at what rate should be TDS Deducted.
1% Or 2%

Cess 3% is to be added on TDS or not please clearfy sir.

what points should be consider during educational institution's audit