If a person deposits cash around Rs. 4 Crores for money transfer in his account which is eventually transferred to other people. His receipts in bank account would exceed Rs. 2 crores which is the limit for Tax Audit u/s 44AB. He only receives commission for money transfer. Whether he will be liable for audit u/s 44 AB and what will be his nature of business i.e as commission agent or business income ???

Sir under professional.ethics we start answers like this say clause 6 of part 1 of schedule 1
But if we start like this 1st schedule part1 clause 6
Will it be wrong r one n same thing

Eg: If A ltd. purchased shares in the previous year at Rs.10/- per share. At the end of the financial year the share value is Rs.15/- per share . What will be the treatment for the change (increase/decrease) in share value at the end of F.Y. (as per Ind AS)

Dear all,

Please confirm:
Is it Mandatory to appoint first auditor in First board meeting of the company (within 30 days).
Can we appoint them in Second board meeting(within 30 days) of the company.

Also whether filing of ADT-1 is required or not for pvt ltd co. in case of appointment of first auditor?

Best Regards

Sir
What will be the entry of repayment of loan. please help me.

I have been appointed as the first auditor of a private limited company for FY 2016-2017....Kindly tell me the formalities i should follow and is it necessary to file ADT 1

As per sec 139 (2)
What is the meaning of public borrowings i.e.
What if the sanction limit is more than 50 crore but total loan amount is less than 50 crore. Is rotation is applicable in the same case as well?????

Can anyone send me the format of NO OBJECTION CERTIFICATE to be received from previous auditor to new auditor that he has no objection?

A Partnership firm engaged in the trading of Sanitary goods having Turnover Rs. 48.50 Lacs for the financial year 2016-2017.

Was the said firm liable for Tax Audit.

If yes, plz tell the way as they have not filed their ITR and Tax Audit before 7th Nov 2017.

Can they file their ITR U/S 44AD without Audit.

Firm is having Net Profit Rs. 4500/- . Partner's Remuneration Rs. 144000/- Interest on Capital Rs. 332802/- total of all is more than 8% of Turnover

Hi CCI experts 

Wishes to you.

Can anybody help me with this.

Can auditor issue qualified opinion on some items and disclaimer on some other items in the financila statements.

In simple words can an auditor issue more than one opinion in the audit report, i.e., reporting not on overall financial statement basis but on point wise basis.

Thank you in advance