Our company engaged P.Associates for all bookkeeping, GST filing, P&L, etc. They also coordinated with a statutory auditor (Ms. CKB) for balance sheet signing/ITR filing. All professional fee invoices were raised by Paramount Associates, and payments were made accordingly.

For FY 2023–24, the agreed statutory audit fee (X) was paid. However, due to a dispute (Paramount treated land sale as turnover and demanded 2X), management paid only the agreed fee. Paramount then abruptly stopped services.

Recently, we appointed a new statutory auditor. Ms. CKB has refused to issue NOC/resignation, citing “pending fees,” though she has never raised an invoice directly to us — only Paramount invoiced. She is also not responding to follow-ups.

My queries are:

Can the statutory auditor demand pending fees when no invoice was raised directly to the company?

Since all invoices were from Paramount Associates, is there any liability towards the statutory auditor personally?

What remedies are available if the auditor withholds NOC despite no dues being pending directly?

Can this be escalated to ICAI local chapter for resolution?

Any guidance from members who have dealt with similar cases will be appreciated.

Sir, one of the assessee has business income (Trading of goods) which was put under 44AD, he also has the speculative business (F&O Transactions), which we are reporting as (+)positive and (–) negative values in the income tax returns. However, when I check the Cash collections and Cash payments which was done from the trading of goods business it is more than 5% to the total turnover and more than 5% to the total expenditure, “totals” here means the trading of goods turnover and speculative business turnover, Now the question is, do I have to get the books of accounts audited u/s.44AD, as I am not satisfying the proviso’s to the clause (a) of section 44AD.

As above

Dear Sir/Madam , My company purchased a projector amounted to Rs. 61,200 including transportation charges of Rs.1000. Does company need to deduct TDS on this ?

If the assessee has opted for presumptive scheme u/s 44AD for Real estate business and also having commission income u/s 194D for which it is showed under the head of other source
So whether the income tax return shall be treated as defective of it will be processed as income of 194D is shown under other source?

WHAT IS THE PASSWORD FORMAT TO OPEN NOTIC ATTACHMENT.

If husband wants to start business in wife's name who is practicing CA, where she has to apply to get the permission from ICAI, as CA is not involved in business only her name will be used. Please suggest

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They wll give monthly 25k which will be credited to me.

Can I avail gst itc on this

I had purchased 1000 shares of a company in March 2024 and sold them in May 2024. After the death of my father I inherited 5000 shares of the same company in October 2024 which my father had purchased in the year 2019. For computation of capital gains, what will be the cost of acquisition of the shares I sold in May 2024.

A person is a shareholder and director of an Indian Pvt Ltd company (holding percentage 90%)
That Indian Pvt Ltd company is a holding company for a foreign subsidiary (100% -wholly owned subsidiary)
The person has the signing authority for the foreign bank accounts
Query is only disclosure under Column E of schedule FA is required in ITR is required as he has the signing authority or Disclosure under Column B of schedule FA ( details of financial or beneficial interest in entity would also be required)