Mutual funds - invested
This query is : Resolved
22 December 2011
Can anyone tell me how to deal with the investment item - Mutual Fund while doing the audit. What are the additional documents to be verified. And what measures to be taken if it has been fully redeemed? Is there any fixed period or can redeem at any time? How to know all these? What are the supporting documents to be asked for?
Guest
Guest
(Expert)
23 December 2011
23rd December, 2011
1. You should rely on the Mutual Fund Investment document and read its terms and conditions.
2. You can verify the amount invested appearing on the Investment Certificate and the number of units allotted.
3. Unless otherwise stated, Mutual Fund Investments can be redeemed anytime depending on the prevailing market Net Asset Value.
4. Check whether investment proceeds are credited to the entitity's account at the time of redemption of the units.
FCA Prashant Chavan
1. You should rely on the Mutual Fund Investment document and read its terms and conditions.
2. You can verify the amount invested appearing on the Investment Certificate and the number of units allotted.
3. Unless otherwise stated, Mutual Fund Investments can be redeemed anytime depending on the prevailing market Net Asset Value.
4. Check whether investment proceeds are credited to the entitity's account at the time of redemption of the units.
FCA Prashant Chavan
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Disallowance of Section 43B(h) to sez units
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
CAclubindia
