Tuesday, July 9, 2013

[aaykarbhavan] Fw: {Amresh's CA's} Re: Download ICAI's Revised Guidance Note on Tax Audit u/s 4AB



 
Regards
Prarthana Jalan

----- Forwarded Message -----
From: Sanjeev Bedi <sanjeevbedi2001@yahoo.com>
To: ICAI_CIRC_MEERUT_CA@yahoogroups.com
Sent: Tuesday, 9 July 2013 4:51 PM
Subject: {Amresh's CA's} Re: Download ICAI's Revised Guidance Note on Tax Audit u/s 4AB

 
Click on the link below to download ICAI's Revised Guidance Note on Tax Audit. At long last, it is out. Please read it before you read any private publications.


Thanks,

Sanjeev Bedi


--- In ICAI_CIRC_MEERUT_CA@yahoogroups.com, KGMA wrote:
>
> Dear Professional Colleagues
>
> Bharat Law House has released the book on "Guide to Tax Audit u/s 44AB" with amendments made by the Finance Act, 2013.
>
> Many
> areas have been addressed in this book in comprehensive manner. Some of the
> major areas that may arise during the course of tax audit and hence discussed
> in this book include the following:
>
> * Partner
> in Representative capacity
>
> * Basis
> of Profit Sharing Ratio
>
> * Profit
> Sharing Ratio and Loss Sharing Ratio
>
> * Minimum
> Guarantee given by a partner
>
> * Change
> in profit sharing ratio vis-à-visyear
>
> * Retirement
> of a partner
>
> * Death
> of a partner
>
> * Karta
> of HUF partnership as a member of the HUF in his individual capacity
>
> * Discontinuing
> operations
>
> * Two
> businesses but one business did not do well in the current year
>
> * More
> than one business or profession: their nature vis-à-vis performance
>
> * Business
> sealed during the year
>
> * Books
> of accounts â€" when required in case of specified professional
>
> * Combined
> books for business and profession
>
> * Books
> of account in CIS environment
>
> * Carbon
> copies etc. under Rule 6F â€" whether books of account
>
> * Whether lease rent constitutes
> royalty
>
> * Fees for technical services paid
> to a foreign company
>
> * Tax on foreign company receiving royalty
>
> * Different
> amounts as per presumptive section and that shown in P & L Account
>
> * Apportionment
> of common expenditure
>
> * Main
> business with an additional business under presumptive scheme but no books for
> latter
>
> * Change
> in accounting method for assessee’s convenience
>
> * Previous year accounts not audited
>
> * Incorrect
> method of inventory valuation followed consistently for a long period
>
> * Valuation
> of stock vis-à-vis dissolution of firm
>
> * Excise
> duty vis-à-vis closing stock
>
> * Loans
> and Borrowings vis-à-vis clause 13(e)
>
> * Award
> to sportsman
>
> * Assets
> acquired under hire purchase/installment transactions
>
> * Depreciation
> on Hotel Building
>
> * Deduction
> for Technical Know How
>
> * Validity
> of the order of the Assessing Officer
>
> * Actual
> cost of Assets for the purpose of Depreciation
>
> * Depreciation
> on building held for personal use put into business
>
> * Interest
> on loan of purchased of Plant & Machinery
>
> * Foreign
> Company of the same name
>
> * Interest
> on waived debt
>
> * Treatment
> of MODVAT etc.
>
> * Treatment
> of Trial Run Expenses & Income
>
> * Treatment
> of Foreign Currency Fluctuation
>
> * Allowability
> of Secret Commission
>
> * Treatment
> of Debenture Discount
>
> * Treatment
> of Underwriting Commission
>
> * Treatment
> of Amount Paid to Outgoing Partner
>
> * Treatment
> of Land Development Expenses
>
> * Expenditure
> incurred on Contravening Provisions Law
>
> * Treatment
> of Purchase of Securities-cum-interest
>
> * Compensation
> paid for non-fulfillment of contract
>
> * Treatment
> for Tax Paid by Agent
>
> * Expenditure
> requiring Govt. Approval
>
> * Legal
> Expenses for Registration of Share Transfer
>
> * Interest
> on belated payment of Call Money
>
> * Exceptions
> to test of benefit of enduring nature
>
> * Allowability
> of Expenditure â€" Expenses on Shifting of Business
>
> * Overriding
> Payment to Spouse of Predecessor
>
> * Foreign
> Technician Expenditure resulting in increased output
>
> * Allowability
> of provision for expenditure disputed for payment in court of Law
>
> * Allowability
> of Expenditure
>
> * Hotels accepting cash from guests for safe custody
>
>
> http://www.bharatlaws.com/book_detail.php?book_id=513&product_name=Guide-to-TAX-AUDIT-u
>




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