Hi,

Generally we receive the Invoices from our vendors/service providers after a few days (some time weeks) from the issuance of Invoice.

My question is very simple but with some issues...

Q. What should be the date of booking of Invoice in our books of accounts ? (say- Invoice date 15/Jul/15 , Received on 25/Oct/2015, for Consultancy chgs 50,000 + S.tax @ 14% 6000).


Issue 1. TDS Liablity
(From 15-Jul or as from 25-Oct).

Issue 2. S.tax input eligibility
(a. in the m/o Jul or in the m/o Oct).

Issue 3. Accounting Concept
(General trade practices for expense booking).

Issue 4. Audit
(Audit objection if any).

Hi,

If there are more than one crore sales or redemptions made in equity shares and debt instruments,is tax audit applicable to that person.

Thanks

dear sir , we are giving our pvt. ltd. co. A/c for audit(2014-15) but due to no cash exps maintained for April to December by old accountant ,new accountant manually take entry of cash exps (in accumulate basis) and give books of a/c for audit . will there be any issues if they do so ?

Experts,

If one claims net profit less then 8% of turnover he has to get accounts audited.

But if an individual has started business in year end and turnover is zero, there is only purchase and other expenditure, accordingly there is loss that FY. Is he required to get his accounts audited to carry forward loss ?

Thanks.

Please enlighten me about whether the liability of audit u/s 44AD of Income Tax Act arises under the following details of income of an assesse.

COMPUTATION OF INCOME
Income under Head Business & Profession
Profit from Wholesale Trading 65,000
Turnover : 65,00,000 (NP:1%)
Income under Head Other Sources
Interest Income 1,95,000
Total Income 2,60,000
Less: Deduction u/s 80C 11,000
Taxable Income 2,49,000

PARTNERSHIP FIRM

sale 5775000/-

gross profit 526000/-

net profit 2200/-

no partner interest

no partner salary

IS AUDIT REQUIER OR NOT

is 8% formula applicable or not

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PARTNERSHIP FIRM

sale 5775000/-

gross profit 526000/-

net profit 2200/-

no partner interest

no partner salary



IS AUDIT REQUIER OR NOT

is 8% formula applicable or not

There are separate individual charitable homes, if one home gets closed and the money is being transferred to the main home, which will be utilized for the opening of another charitable home in the future. How it is to be treated as a revenue income or capital receipt.

kindly guide me -- I am an individual and last year for 31.3.2014 i had got tax audit done as i was not sure and on the safe side got my income tax audit done. now i want to do the tax audit this year also but i want to know can i change my C A for the same and if yes then is a NOC required by the previous C A thanks

explain about dual dating