Dear Experts,

Those who are damn sure about this question with exact 100% sure answer then reply. If you are not sure about

answer then do not reply/discuss. Actually this one of questions which comes in Recruitment of Manager (Account & Finance).
This question has become controversial and this question has gone to High court.


Qus) Which term defines internal audit with clarity ?

(1) Internal Audit is an evaluation and analysis of the financial statements conducted by the internal audit staff.

(2) Internal Audit is an evaluation and analysis of operation of business conducted by external audit staff only.

(3) Internal Audit is an evaluation and analysis of the business operation conducted by the internal audit staff.

(4) Internal audit is an evaluation and analysis of the financial ststements only conducted by the external agency.

One of our Private Company have two directors who are the only shareholders holding 50% shares each. One of the director is not cooperating, neither he is taking any interest in the day to day activities of the company and also is not willing to resign from the company.

Our query is how can we remove this director as per section 169-

1. As we have only one director cum shareholder left with us and the quorum for the general meeting cannot be formed.
2. Transfer of shares is also not possible in this case as section 2(68) restrict transfer of shares incase of Private company

hi
Wanted to understand the Service tax implication on Royalty paid to both Indian and foreign authors for books published in India and Sold either in India or abroad both in physical or ebooks format.
Whether the tax implication changes in a GST environment. If yes, what are the changes? Would there be an invoicing requirement from authors and whether authors need to apply either for a Service tax registration or GST registration

i am very much tensed that in bcom degree every semester i have atkt will i get job after chartered accountant because i am at IPCC level now.

Dear Sir,
We need to file a rectified IT return of one of our client. The assessee is an automobile dealer and he likes to opt 44AD for his business income, Books need not be maintained if 44AD is opted. Similarly at the same time the assesse have income under Rule 7A—Growing and manufacturing of Rubber in India, as per Rule 7A Agricultural income = 65% Non-agricultural income or Deemed Business income = 35%

We filled the ITR 4 by showing 44AD and Rule 7A.
44AD is shown under presumptive income. and Rule 7A income shown separately under business or profession category. While validating the ITR the following error is shown

Error Message
In Computation window, you have entered 'Net Profit Before Tax as per P & L a/c' under Business / Profession head and ticked for 'Books not maintained cases' in ITR data entry window. Therefore, enter Gross receipts / Gross profit / Expenses / Net profit under Books not maintained cases in ITR data entry window.

Please advice how the error can be rectified.
Our main doubt is that whether 44AD and Rule 7A can be shown together in ITR4..If so how can it be shown in ITR4. Please advice. The above issue is related to AY 2016-2017

Am an accountant in a School.we ordered for tables as per our requirements.Materials not supplied to that supplier.Is TDS on contract need to be deducted on the payment (120000)to supplier.please help in doing the same

If I do article ship in Gujarat can I give ca Final exam from Mumbai ????

A person is registered under service tax, but is not likely to achieve gross receipts of 20 lakhs in next year. Is he still required to migrate and then apply for cancellation by submitting form 24 (or is it Form 28?) or does he need not migrate at all ? He can obtain fresh registration in future when he reaches the figure of 20 lakhs. Please tell if provisional registration is mandatory for him to obtain?

What is the full procedure of registration of LLP firm. What is the fee associated with it? Can anyone help for registration of LLP firm?

Hi experts, I want to know the procedure to start a limited liability partnership like process, Steps, documents, forms etc...., Thanks in advance