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Recent Questions

Question added Sep 12, 2013 Audit By Sanjeev Kumar Agarwal

answers

284 views

Q. information about tax assumptions under income tax act 35ad - We have installed fruit ripening chamber's in which raw fruits are ripened by controlling temperature and maintaining humidity and after storage of several days the fruits are sold out.are we eligible for income tax assumption under income tax act 35ad and after we have chambers of 20 metric ton.kindly clarify it.

Anwered By : Vaneet Gupta

Question added Sep 06, 2013 Audit By SUNIL AGRAWAL , CA , Raigarh

answers

255 views

Q. AUDIT U/S 44 AB - ONE OF MY CLIENT IS WORKING AS A SAHARA AGENT & ANOTHER CLINT IS RUNNING FRANCHAISI OF INDUSIND BANK FOR VEHICLE FINANCE BOTH TURNOVER IN F.Y. 2012-13 IS ABOUT 65-70 LACS. I WANT TO KNOW THAT THIS COMES UNDER BUSINESS OR PROFESSION INCOME AND WHETHER THEY WOULD REQUIRED TO GET TAX AUDIT AS PER SECTION 44AB OF INCOME TAX ACT

Question added Sep 03, 2013 Audit By DHRUMIL SHAH , CA , Bhuj

answers

333 views

Q. e filing of tax audit report - TURNOVER OF ASSESSE IS NOT MORE THAN 1 CRORE AND HE ALSO DECLARE PROFIT MORE THAN 8% AND NOW HE WANTS TO GET HIS BOOKS OF ACCOUNTS AUDIT AS PER INCOME TAX ACT VOLUNTRARILY. IN WHICH SECTION HIS BOOKS OF ACCOUNTS AUDITED U/S 44AB OR US 44AD AND IS IT MANDATORY TO E FILE THE SAME

Question added Sep 02, 2013 Audit By CA Deep Agrawal , CA , East Delhi

answers

219 views

Q. TAX AUDIT ASSIGNMENT LIMIT - WHETHER TAX AUDIT DONE U/S 44AD ARE COVERED IN LIMIT OF 45 AS FIXED BY ICAI?

Question added Aug 31, 2013 Audit By vimal , CA

answers

120 views

Q. UP FILM POLICY - Dear Sir,

as per recent amendment in above UP govt initiate Subsidy for film shoot in UP About 25% of Cost of Production.can you please provide me circular/notification regarding same.

Specially Requirement of CA Report for availing the above facility.

Kindly provide format of CA Report if any

Question added Aug 21, 2013 Audit By SAHIL GUPTA , CA , Jammu

answers

344 views

Q. EDP AUDIT REPORT FORMAT - Please provide EDP AUDIT REPORT Format for Cooperative Banks.

Question added Aug 20, 2013 Audit By Mangapathi Sarma Cheemalaonda , CA , Rajahmundry

answers

132 views

Q. CAs in Partnership - Sans
Can you one please let me out of this doubt.

Well we are planning to float an Audit firm. Can any of us hold a proprietory firm registered under his name with the institute?
Also that can we apply individually for some audit assignments of our own apart from being a partner in a firm?
Please clarify about the full-time partner issue which the institute has been raising recently.

-Regards
SARMA

Question added Aug 20, 2013 Audit By harvinder , Jalandhar

answers

176 views

Q. revised audit report - hello all!!!1
how can we fila a revised audit report ( form 3 cb, cd, audited balance sheet & profit/loss a/c)

Anwered By : Ravi Sanguri

Question added Aug 19, 2013 Audit By Vivek Mathur , Nagaur

answers

187 views

Q. Procedure for transfer in Articleship - What is the procedure for taking transfer from one place to another in CA Articleship?

Anwered By : Vikky Kumar Jha

Question added Aug 17, 2013 Audit By sitesh kumar jha , CA , West Delhi

answers

154 views

Q. Accounting And Auditing - Accounting treatment in the books of Indian holding Subsidiary in Singapore

Question added Aug 17, 2013 Audit By sitesh kumar jha , CA , West Delhi

answers

137 views

Q. Accounting And Auditing - Accounting of Singapore Subsidiary companies in the Indian holding Private Limited

Anwered By : Vikky Kumar Jha

Question added Aug 13, 2013 Audit By Ajay Kumar , CA , Delhi

answers

127 views

Q. Audit - What should be the audit report format for the company which is not doing any business and having pre incorporation expense only ?

Anwered By : Vaneet Gupta

Question added Aug 10, 2013 Audit By CA Shraddha Vora , CA , Mumbai

answers

190 views

Q. Query of Partnership Firm - Registration in process. - As per the provisions of Indian Partnership Act, 1932, only a registered partnership firm can file a suit. However there is no mention about filing of case by a firm whose registration is in process.
A partnership firm is having its application for registration in process since 2 years. So can it file a suit against any person?
Riddhi

Question added Aug 10, 2013 Audit By Arpan Lohiya , CA , Akola

answers

119 views

Q. MEF form - I am not able to fill my mef empanelment form of my firm. I have registered my firm on 3rd june 2013. please help me for the same

Question added Aug 03, 2013 Audit By C.A P. Hareesh Kumar , CA , Hyderabad

answers

172 views

Q. MEF 2013-14 - A Firm has partners Two Charteterd Accountants who are also practicing in individual names. One of the Partners was in Panel in earlier years .If both partners apply for MEF in individual capacity and the firm does not will both of them get empanelment - What are the chances of rejection

Question added Aug 03, 2013 Audit By Divyanshu Bansal , Moradabad

answers

149 views

Q. audit - audit ki preparation kaise kare

Anwered By : Vikky Kumar Jha

Question added Aug 02, 2013 Audit By VIVEK SHARMA , Amritsar

answers

166 views

Q. AUDIT ASSIGNMENTS - CAN A CA IN PARTNERSHIP FIRM SIGN AUDIT REPORT IN EXCESS OF LIMIT OF 45 KEEPING IN VIEW THE ELIGIBIL

CAN A CA IN PARTNERSHIP FIRM SIGN AUDIT REPORT US 44AB IN EXCESS OF LIMIT OF 45 KEEPING IN VIEW THE TOTAL ELIGIBILITY OF CA FIRM TO SIGN AUDIT REPORTS. EXAMPLE CA FIRM COMPRISING OF 5 WHOLETIME PARTNERS .ELIGIBILITY OF EACH PARTNER IS 45. CAN ANY PARTNER SIGN IN EXCESS OF 45 AND OTHERS SIGNS KEEPING IN VIEW THAT TOTAL LIMIT OF FIRM I.E.225 DOES NOT EXCEEDS. PLEASE CLARIFY

Anwered By : Vikky Kumar Jha CA Satuti Mahajan

Question added Aug 02, 2013 Audit By PANKAJ VAISHYA , CA , Guna

answers

129 views

Q. Audit for deduction under 80IB - if audit done form no 10CCB for dedun 80ib than what is the last date for audit efilling and /or itr filling

Question added Jul 25, 2013 Audit By venkat reddy , Cuddapah

answers

119 views

Q. stock statemnt - what are the issues i have concentrate on observing stock statement

Question added Jul 25, 2013 Audit By venkat reddy , Cuddapah

answers

115 views

Q. stock statemnt - what are the issues i have to concentrate in stock staement

Question added Jul 19, 2013 Audit By Nisha Sharma ,CA final student , Delhi

answers

136 views

Q. ca final exam - Hi,plz tell me how should i prepare for theory exams of ca final,i usually don't able all the points.Please also suggest some books that are exam oriented

Question added Jul 18, 2013 Audit By ANKUSH , CA , KURUKSHETRA

answers

137 views

Q. Tax Audit - Whether a Partnership Firm having loss is subject to tax audit u/s 44AD

Question added Jul 10, 2013 Audit By vimal roy , CA , Thiruvananthapuram

answers

124 views

Q. CA firm RBI registration - I formed a new CA firm with 2 partners. How can register with RBI. Some banks are asking RBI registration for concurrent audit.

Question added Jul 04, 2013 Audit By sanjay , CA

answers

1581 views

Q. e filing of tax audit report u/s 44AB and 44AD - Hello
I have a query regarding e filing of audit report and i am sharing that with you hoping your response soon.

Facts:-

1) Audit report u/s 44AB is required to be e filed from a.y. 2013-14 as per Income tax department notification no 34 dt.
01/05/2013

2) Further as per ICAI guidelines a Chartered accountant in practice can't do more than specified number of audit
assignment and while calculating specified number of audit assignments tax audit u/s 44AD will not be counted.
(Specified number of audit assignment are 45)

3) But when we e file 45 tax audit report u/s 44AD and then proceed to e file file audit report u/s 44AB then income tax
department website showing an error message that you exceed the specified number of audit assignment.

Query :-

1) Is it compulsory to e file the audit conducted u/s 44AD or u/s 44AB(d) ??

2) if yes how to segregate the audits u/s 44AD and 44AB for the purpose of specified number of tax audit assignments
??

Hoping response from your side soon :-)

Experts Panelist

Rambabu Senkarasetti

Accounts, Audit, Corporate Law, Finance, Income Tax, Service Tax, Students, VAT

Answers Posted : 409

CA Satuti Mahajan

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Answers Posted : 291

Vikash Kumar Jha

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Answers Posted : 270

Rishabh Upadhyay

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Ashish Karundia

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Answers Posted : 257

Mrattunjay

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Answers Posted : 220

PRIYANKA

Accounts, Audit, Corporate Law, Excise, Finance, Income Tax, Service Tax, Shares & Stock, Students, VAT

Answers Posted : 136

CA. SURESH Kr. AGARWAL

Accounts, Audit, Corporate Law, Custom, Excise, FEMA, Finance, GST, IFRS, Income Tax, Service Tax, Shares & Stock, Students, VAT

Answers Posted : 131

Vaneet Gupta

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Answers Posted : 120

Ketan Samdani

Accounts, Audit, Corporate Law, Excise, Finance, GST, Income Tax, Service Tax, Students, VAT

Answers Posted : 117

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