Provision for Audit Fees
This query is : Resolved
05 April 2010
A Company is yet to appoint statutory auditors for F.Y. 2009-10. As on 31st March 2010, does the Company require to provide for audit fees for F.Y. 2009-10 in its books?
If the Company closes its books on a monthly basis, is it required to provide for audit fees proportionately on a monthly basis?
If the Company closes its books on a monthly basis, is it required to provide for audit fees proportionately on a monthly basis?
06 April 2010
NO. THE PROVISION SHOULD BE MADE ON 31ST MARCH.
06 April 2010
However when no service is rendered, how is the provision justified. Please explain.
06 April 2010
YOU SHOULD HAVE APPOINTED YOUR AUDITOR BY NOW. YOU HAVE TIME TILL 31ST MAY TO MAKE PROV AND DEDUCT TDS.
06 April 2010
Statutory auditors of the company was appointed the shareholders in the AGM for the year in advance. So if the company is not appointing the statutory auditors in
AGM, the company is violating the provisions of the Companies Act, 1956. The company is required to provide for the provision of audit fees for F/Y 2009-10.
AGM, the company is violating the provisions of the Companies Act, 1956. The company is required to provide for the provision of audit fees for F/Y 2009-10.
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
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- PPF interest-As Exempt Income disclosure
- Pass word to open justification report for Q1 for FY 2026-27
- Tax on Deemed Capital Gain
- Section 194JA & JB Income which ITR Form to use
- Regarding ITR filing with more value than showing in AIS/TIS
- Type of Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
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
