Disclosure of auditors interest in real brother partnership
This query is : Resolved
Rahul Singhal
(Querist)
20 August 2012
Respected Experts,
I am the Auditor of My Real Brothers Partnership Firm for the FY 2011-12..I Just Want to ask
1. What sort of Disclosure i used to give in the Audit report...Kindly Specify the Drafting language.
2. I had given Rs 200000/- in the form of unsecured loan in the partnership firm..Is there any Disclosure of the same is required.
Kindly resolve my issue.
Thanks in advance
I am the Auditor of My Real Brothers Partnership Firm for the FY 2011-12..I Just Want to ask
1. What sort of Disclosure i used to give in the Audit report...Kindly Specify the Drafting language.
2. I had given Rs 200000/- in the form of unsecured loan in the partnership firm..Is there any Disclosure of the same is required.
Kindly resolve my issue.
Thanks in advance
Amol S Joglekar
(Expert)
20 August 2012
Assuming you are TAX AUDITOR. No separate disclosure is required from income tax view point. At the most, under the schedules, highlight the unsecured loan given by you. (This is with the assumption that in Singhals the most popular names are Rajput, Pardeshi Or Singhal)
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