Respected Colleagues,
One of my client (Pvt Ltd) in previous years paid sundry creditors in cash all above 10k, and but in actual no creditors has been o/s in books, but due to cash payments made, auditor disallowes the same and treated that no payment has been made, now my ques is, there any wayout to disclose actual value of creditors in balance sheet of FY 2024-25 or may be next year balance sheet?

please guide

Dear anyone......

This is regarding the filing of the Audit Report and Income Tax Return (ITR) for our Section 8 Company for the financial year 2024-25.

As per advice of our C.A firm, under the Companies Act, the last date for filing the Audit Report and ITR is 30th September 2025, and it is mandatory to file within this date.

However, as per the recent notification of the Central Board of Direct Taxes (CBDT), the due date for filing ITR in case of companies requiring audit has been extended to 31st October 2025.

We request your guidance on what should be considered the actual last date for filing in our case, so that we can proceed accordingly in compliance with both Company Law and Income Tax requirements.

While generating udin . There is a question whether auditors opiinion applucable two option no and yes
When to select no
When to select yes

Please share the Ready Reckoner checklist of all the clauses to be mentioned in Tax Audit Report for Private Limited Company.

under what circumstsances Two statutory auditor of a pvt ltd company be appointed?

If tax payer has equity share income, speculation income, and other vegetables sale income, then what would be the turnover limit for audit

One of my client had turnover below Rs. 2.00 crores during FY 2024-25, but his cash receipts are more than 10% of the turnover. Whether he can declare his income u/s.44AD ?

After the completion of supplementary audit and issuance of comment certificate as per section 143(6) of the Companies Act, in the case of a Government company, can a Statutory auditor issue a revised independent audit report

sir.
While preparing book of accounts for audit , it found that there is deduct of TCS (5%) On travel expenses payment . our owners went to aboard for business purpose . Same amount is reflected in our company 26 AS.
Can we deduct this amount while making income tax payment (ITR) .
Please advise
With regards
Binu

As Per ICAI GN the derivative turnover is
(i) The total of favourable and unfavourable differences in case of squared off transactions shall be taken as turnover.
(ii)Premium received on sale of options is also to be included in turnover. However, where the premium received is included for determining net profit for transactions, then such net profit should not be separately included.

Please confirm whether we have to take the premium on sale of options in turnover calculation and if the the transaction in profit then leave profit part as it is already in sale premium. for example : one buy 100 qty @ 100 and sale it as 120/-. then the profit is 2000/-.,
Now please clarify what will be the turnover. Either the turnover should be 2000/-( only profit) or sale premium value of 12000/-. and we ignore profit of 2000/- to remove double counting. ( which is complaint with the GN)