Case:
In a branch of a bank, there was a complaint lodged by one customer about the opening of the account without his consent. The concurrent audit came across the complaint and while enquiring with the branch, it came to know that the account was opened and closed in last year and the complaint was lodged in the subsequent year. Further, the complaint was forwarded to the legal dept of the bank and the reply was communicated to the customer. The customer never came back later. Also, there were not many transactions in that account.
The concurrent auditor, in his best judgement, assessed the risk of the incidence and was of the opinion that since the account is closed in the last year itself, there is no risk to the bank. Thus, he did not put it in his audit report.
Later, in the subsequent year, RBI audit officer pointed out that there was a complaint but it was not mentioned in the concurrent audit report. Does this amount to professional negligence? What would be the consequences on the auditor?

MY CLIENT AN EDUCATIONAL INSTITUTION WANT TO REMIT TO UK FOR ANNUAL MEMBERSHIP FEES OF GBP 1277.
WHETHER TDS WILL BE DEDUCTED U/S 195.
IF YES AT WHAT RATE
IF TAXABLE UNDER DTAA - AT WHAT RATE AND UNDER WHICH ARTICLE

CAN A MINOR BECAME MEMBER IN HUF

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Sir,
A person new business strated dt:01-08-21
1.if a person capital investment in firm rs:8 lacs dt:2-07-21
2.purchase of furniture and others amount rs:3 lacs paid.dt:20-07-21
Question:
Assess above mentioned all transactions different dates or businesses starated day accounting entry passed in books is correct method.

Sir,
Client operating Silver trading retail business and having Deposits ₹2450697/- as per his bank statement.(excluding saving bank interest)
Client not maintain account books,
Gross receipts 2450697 *6%=147041.82...is it correct for updated in ITR with out books.

He paid health & life insurance in F. Y 2020-21
Paying Interest on home loan..
Pls give suggestion.

Sir ,
My client had received a notice under section 274 read with section 272A(1)(d) of the I T Act, initially 142 was issued about 6 months back but no specific point is raised in the notice. plz advice on reply of the notice issued

Under which head is LED Television classified as per companies act and what is the rate of depreciation.

Hi,

Does a Non-Resident Indian need to declare their income earned out of India?

I have been working as a Software developer out of India since Oct-2019 and have not visited India since then. Per my understanding, I would be considered as an NRI for indian tax filing for current AY 21-22. When I am trying to fill ITR2 on the new portal and I select the Status as 'Non-Resident', the schedule FSI gets unchecked and I am not asked to provide the details for my income earned out of India. Is this expected? or should I still somehow declare the foreign Salary income?

Please let me know. Any guidance is appreciated.

If a factory employed total 15 persons ( Wages of 8 persons =25000, and 7 persons =15000 each). is ESI act applies? Please give solution with reference to act only.

DEAR SIR,

I HAVE FILED INCOME TAX RETURNS ITR -1, SALARY FOR THE YEAR 2021-22, BUT DELAYED IN GETING AADHAR OTP, RETURN FILED WITHOUT AADHAR OTP LATER TO BE VERIFIED RETURN. WHILE LOG IN INCOME TAX PORTAL I HAVE SELECTED OPTION TO S E-VERIFY RETURN I AM DID NOT RECEIVE OTP AND IT IS TAKE MORE THAN 20 MINUTES AFTER THAT ALSO NOT ANY OTP MESSAGE RECEIVED.

WHAT IS THE PROBLEM WITH PORTAL OR ANY OTHER PROBLE WITH THAT

PLEASE GUIDE ME

REGARDS