One of my friend has opened up a playschool and for getting registered in the state it had to be of trust character... my question is that he had opened the school for profit motive and registered as a trust what is criteria for determining the eligibilty for audit... gross receipts exceeds 2. 5lakhs thanks in advance

Please share the check list and concept of IFC.

depriciation on laser printer to be depriciated in computers or office equipments?

Dear Experts, company has been incorporated in march 2014. so comapny's first annual return should be filed with ROC on or before 31st Dec 2015, for PERIOD MARCH 2014 to 31st March 2015. but till today's date comany has not filed its annual return.. . kindly please revert me with the liability what company would have to incurre if it file today its annual return..

in financial statements of NTC we have charged depreciation at wdv basis on grant and non grant assets but we are represented both depreciation on income and expenditure a/c at both the sides like income side and expenditure side,why we have done like this please suggest I need very clearly and answer me as early as possible thanks in advance

Can I Have the Nice and Best Due Diligence Format which covers all the aspects required.

is there a NRI who has his own nre account in any bank (p&sb bank) deposit dollar in his relatives nre account in the same bank even in same branch in which his own nre account.

Dear Member

please explain whether any other CA in Practice can sign balance sheet of public / private company in which other firm are appointed as Statutory Audit.

Can such member sign as under:-

ABC & CO.

Chartered Accountant



(MR. A)

(A.C.A)

(Authorise Signatory)

Speculation and intra day loss on shares, futures and options Rs. 15,00,000/-
Speculation and Intra Day Gain on shares, Futures and options Rs. 10,00,000/-
Total Turnover Rs. 25,00,000/-
Net Loss Rs. 5,00,000/-
Whether audit is required u/s 44AD as profit is below 8% of the turnover?

We are a newly registered Political Party with registered office in Allahabad. We need to send our annual accounts to the Election Commission of India, audited by an Auditor on the Panel of CAG. Now this is new for us thus we don't know the procedure to do so. Kindly guide us.