Passing difficult exam -ca criteria for..

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Since the PNB scam different people have commented on CA profession – als

I, as a commerce graduate with 30 + years experience , sharing my views BASED ON MY EXPERIENCE :-

  1. How many CAs want the books of their clients accounts books to be RE-WRITTEN for valid reasons.

 

? does this not AFFECT the career of that Accountants who are not CAs.

 

  1. Coming to the present day problem faced by large organisations particularly BANKS

Will the CAs who have passed difficult examination conducted by premier institute.

 

Income Tax Dept. is issuing notice for DEFAULTS IN RESPECT OF TAX DEDUCTED AT SOURCE.

 

Iwant to know from those CAs who have passed difficult exam of CA :-

 

How these amounts are reflecting in the balance sheet – reports ?

Default amount pertaining to current year

Default amount pertaining to previous year

 

Replies (2)

Further to the above ? ,

If I obtain information under RTI Act, about defaults pending against the devil nationalised banks, what action I can - can not take against the CAs. 

The CAs who have passed the difficult exam are requested to explain.

I filed TDS returns for a branch of a nationalised bank, at the end of the year STATUTORY AUDITORS ASKED ME TO PREPARE A STATEMENT AND VERIFY THE ACCURACY OF SUMMARY OF TDS DEDUCTED MATCHES WITH the interest paid during i.e that year.

Theoritically he is right. i.e suppose the interest paid during the year is say 10,00,000 the TDS deudcted @ 10 % and @ 20% how much.

The logic of that CA who has passed the difficult exam of CA that too after undergoing practical training for few years - is how far logical.

In the case of banks audit IS THAT POSSIBLE- FIRST OF ALL ASKING THAT QUESTION IS CORRECT. IS that not quite meaningless. If you are not accepting it is meaning less, then answer how to prepare keeping the following devil facts in view.

coolThe bank pays interest on various kinds of deposits.

crying The TDS is deducted at various rates.

crying The TDS deducted may or may not match the statutory % age of deduction . for ex. instead of deducting @ 10% the software may deduct @ 8 % or 28% .or sometimes even 98%.

( If experts are REALLY INTERESTED on this, the banks who are using SARAL TDS software provides by Relyon software can get this information  on this i.e various amounts various percentage of deductions - and how the tax audit report was filed.crying  If the tax audit report was so correct, how the Dept. is issuing notices for default amounts in repect of TDS )

apart from the above in general , can I know from the CAs who has passed the difficult exam of CA , how the interest paid on Flexi Deposits is identified and treated in the reports of tax audit.

 

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