I run a factory on partnership basis with my brother in Guwahati from 2008.
I was not involed in day to day activities and signed every year where my partner said including balance and others papers.
When balance sheet of 2016-17 came on mail to me on the last day of submission 30th sep,2017 I asked my CA where is the balance sheet of last year which did not have my signature on it.
The CA and my partner had not replied well and I became suspicious. Then I remembered of one stamp paper was signed by me previously and I searched the same and read carefully for the first time and I came to know that power of attorney gives all right to my partner only.
I asked both of them for original copy of power of attorney but denied and my doubts become more confirmed.
Now my question is that:-
1-Can only one partner sign the balance sheet in a partnership out of two partners for income tax filing legally?
2-CA /Partners both not given any account till date from 2011.
3-CA /Partner not replying any mails from that day.
4-On 20/3/2018 I visit factory and market and come to know that our factory was sold products 30 to 40% in under billing and
sometimes without billing.
5-I send same query by mail to CA/Partner. Both not replied till date but my CA send resignation letter dt 24/3/18 and send
resignation letter by hand on 3/8/18.
6-Can a CA cum Auditor can do so?
7-My partner / Staff not giving me any accounts and has stopped factory production from march 2018.
7-My partner start new factory with the same machine / same product and also he is the common partner with his wife without
my knowledge nearby my factory to get Exemption in North East region .
Please guide me what to do.
I have a query.
Our company is engaged in the manufacturing of Telecom Equipments. As per cost record rules and the proviso to rule 3 under the Companies Act, 2013, if a company falls under the classification definition of Small Enterprise as per MSME act, then Maintenance of Cost Records is not required. Our company falls under this exemption criteria as our investment in Plant and machinery is less than Rs. 5 Crores but more than 25 lakhs, although we dont have MSME registration or Udyog Aadhaar Registration.
Considering the said exemption is the maintenance of cost records and cost audit applicable to us. ?
Dhananjay Jitesh Pandey
please explain briefly Partnership firm turnover 1.5 lakh (Sales ) & TV/mobile Recharges Turnover 15 lakh (Sales)
1.50 lakh 9 % ( Before Remuneration ) after Remuneration Profit 0 ( Rs 13500 proft) Before Remuneration )
15 lakh 3% (before remuneration) after remuneration profit 0 (Rs.45000 Profit ) Before Remuneration)
( Recharge Business case maximam margin Profit 3%)
audit compulsory (All turnover Rs. 16.50 lakh )
suppose all turnover Profit Showing Before remuneration 8% after Remuneration profit 0
please explain as early as possible
CAN ANY ONE SHARE AUDIT REPORT FORMAT OF RELIGIOUS TRUST UNDER TRUST ACT