Can i certify the balance sheet and p&l of brother-in-law?


Practicing Chartered Accountant

As per CA Regulations, a CA in practice cannot express his opinion on financial statements of any business or enterprise in which one or more persons who are his “relatives” 

Can I certify the Balance Sheet and P&L of Brother-in-Law?

Its not an audit, but its a certification for bank loan purpose?

Thanks

 
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ASST.ACCOUNTANT

Respected Sir,

My client received Rental Income from Commercial Property during 2018-2019 is Rs.35.00 Lacs and paying GST and Registered under GST. From April,2019 the GST Limit increased from 20.00 to 40.00 Lacs.

In Year 2019-2020 Income is as under;

Rent from Commercial Property :- 35.00 Lacs + FDR Int.Recd.:- 10.00 Lcas = 45.00 Lcas

Now there is liability of GST on Rent from April,2019 onwards or not or he can cancel GST Number or not....please Guide 

 

 

 
Reply   
 
ASST.ACCOUNTANT

Respected Sir,

My client received Rental Income from Commercial Property during 2018-2019 is Rs.35.00 Lacs and paying GST and Registered under GST.

From April,2019 the GST Limit increased from 20.00 to 40.00 Lacs. In Year 2019-2020 Income is as under;

Rent from Commercial Property :- 35.00 Lacs + FDR Int.Recd.:- 10.00 Lcas = 45.00 Lcas

Now there is liability of GST on Rent from April,2019 onwards or not or he can cancel GST Number or not....please Guide

 

 
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