Internal Check & Internal Control
This query is : Resolved
10 May 2010
Dear Sir,
I am a fresher as far as construction industry is concerned. I need guidance on how to develop a procedure of Internal Check and Internal Control for making payments to labour contractors on the basis of work performed by them i.e right from the stage of inviting tenders till the stage of full and final settlement. Plz. Help. If possible in the form of a flow chart.
Can send me ur valuable reply on my mail ID caneeldoshi@yahoo.co.in
Thanx N Regards,
C.A. Neel S. Doshi
I am a fresher as far as construction industry is concerned. I need guidance on how to develop a procedure of Internal Check and Internal Control for making payments to labour contractors on the basis of work performed by them i.e right from the stage of inviting tenders till the stage of full and final settlement. Plz. Help. If possible in the form of a flow chart.
Can send me ur valuable reply on my mail ID caneeldoshi@yahoo.co.in
Thanx N Regards,
C.A. Neel S. Doshi
10 May 2010
it will be veru difficult to answer in short .. pls use google.. i am sur eyou will get their useful stuff on this
Message likes :
1 times
10 May 2010
Dear neel.
Prakash is correct but I can give you brief idea.
First of all for all the construction project u need to be in touch with the particular department and maintain a proper list of each site...taken care by each contractor..then maintain a brief of each contractor.I think the contractors must be submitting there bills along with the attendance record of all the laborers and their break of salary contents along with PF etc.
Such bills must be verified by the authorized employee(manager/engineer) of company who is looking after that site.This was mainly about making the payment so don't forget to deduct tds.Variation in the monthly bills should be properly monitored and inquired.
When inviting the quotations please see the contractor is having all the statutory no.like PF etc.
This is not the complete process but i hope at least it will help u a bit.
Prakash is correct but I can give you brief idea.
First of all for all the construction project u need to be in touch with the particular department and maintain a proper list of each site...taken care by each contractor..then maintain a brief of each contractor.I think the contractors must be submitting there bills along with the attendance record of all the laborers and their break of salary contents along with PF etc.
Such bills must be verified by the authorized employee(manager/engineer) of company who is looking after that site.This was mainly about making the payment so don't forget to deduct tds.Variation in the monthly bills should be properly monitored and inquired.
When inviting the quotations please see the contractor is having all the statutory no.like PF etc.
This is not the complete process but i hope at least it will help u a bit.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation of fixed assets- coop housing society in mumbai
- Reopen of assessment proceeding
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- TDS on Consultancy- Non DTAA
- Eway bill generation from place other than registeted
- Query – TDS on purchase of land from NRI under Income-tax Act, 2025
- GST rate and HSN code for sale of racing horses
- DIN reactivation
- Condonation . E-Verification of last year return .
- EPF FULL & FINAL RULES IN 2026
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
