X, a CA in practice is a statutory auditor of MNO Ltd. he purchased a car from the company under a hire purchase scheme run by the company on the same terms and conditions as applicable to all other customers. the cash down price of the car is Rs.80000.00. the initial payment of 25% was made on signing the hire purchase agreement and the balance is payable in monthly instalments of Rs.750.00 each. comment whether or not the auditor has become indebted and is thus disqualified to act as auditor.

In case where Audit of Co op Hsg Soc is not conducted since last 10 years whether the same can be done now? If yes whether Audit report to be issued will be combined for all the 10 years or a sepearate reports will be required to be issued?

Also can any body give me the format of Audit Report?

Is there any limit as per Company law or institute norms for audit of private limited companys.

Q.1 X is a holding company , Y is a subsidiary company of X , Z is co-subsidary company of X.

A is a subsidairy company of X where A is not related to Y & Z.

CAN A PERSON BECOME AN AUDITOR OF COMPANY "A" IF HE HAS PURCHASED SHARES OF COMPANY "Z"

Q.2 X,a CA in practice is a statutory auditor of MNO Ltd. He purchased a car from the company under Hire purchase scheme run by the company on the same terms & conditions as applicable to all other customers. The cash down price of the car is Rs. 80000. The initial payment of 25% was made on signing of Hire purchase agreement and the balance is payable as Rs. 750 per month. The auditr has become indebted & is disqualified to act as an audior. Do you agree. Comment

wheather derivatives loss can be adjusted against import purchases made during the year since underlining is hege for import purpose and what about mark to marked loss of Dervatives as on 31/3/2008

the provision of written off the whole low value asset i.e. less than rs.5000 as an revenue expenses. i want to know that this provision is in exsistance or not?

Is accounting standard issue by ICAI apply on partnership firm or not?

have formed a private limited company providing management consultancy services and other project finance work. My Previous Year Income is Rs 16 Lacs

My query is whether my company will be covered under Professional Category and will be liable for Tax Aud

As Company being artifical person cannot possess profesional knowledge , than how can it be treated as professional income and limit of Rs 10 Lacs apply ?

When a company finalizes it balance sheet in the yearend on what basis is the general reserve is allocated pls let me know

I have formed a private limited company providing management consultancy services and other project finance work. My Previous Year Income is Rs 16 Lacs

My query is whether my company will be covered under Professional Category and will be liable for Tax Audit