I want to understand auditors responsibility and its work.

I am hiring a CA as auditor for my Private Limited company, he told me that he will provide me following services as I am completely naive in finance, hence I have following question:

1. Accounting Service
What documents CA maintance for this?

2. Service Tax and TDS Return Filing.

When is being filed and How TDS will be deducted?
Is it applicable to employees only or I can deduct it from invoices too?
I have lot of clients from US, what about them?
What about TDS certificate, if I deduct TDS from invoice?

3. Issue of Form 16

When it will be issued and to whom?

4. Income Tax and ROC Return.

Same question, when it is being filed and what documents you require from my side to file it?

5. Preparation of Financial Documents of the Company.

What does it includes?

6. Auditing the Balance Sheet of the Company.

When this will be audited and what are documents CA require from my side?

Your responce much appriciated.

Thanks

hi kumar

A1) U must have had graduates for data entry purpose , A CA will supervise thier work and will help to pass the closing enteries in books of accounts as per your reporting requirements

A2-3) Service tax is an indirect tax levied by the goverment for the services u provide to ur clients , service tax will be payable as per the point of taxation rules 2011,

TDS is form of indirect tax

TDS will be deducted from salary of ur employees proportionately considering their total tax liablity at the end of the year,

TDS is also payable on contracts or proffesional services, Donot reduce the TDS amount in invoice show it in account statement of the debtor

if u deduct tds, for employees u will have to issue form 16 for others 16A, it is mandatory to deduct TDS in respect of foreign clients , unless TDS is deducted it wont be allowed as an expense in income tax

A5) Financial documents of company include

Balance sheet

Profit and Loss Account

Statement of changes in equity(If Applicable)

A4)

Filling for pvt ltd co must be done by 30th sept if under audit otherwise 31th july

Accordingly your return will also be filled

ROC Filling is covered under companies act

In case ur paid up capital is more than 10lakhs u lll need a compliance certificate from a Prac .Company Secretary also for ROC Filling

A6)Stat Audit is an external activity conducted by a practising CA

It will be done before u file ur companys return and roc

The CA u will hire will prepare neccesary documentation for purpose of external audit