My Client having Security Service Business & Gross Receipt for F.Y.2007-2008 More then Rs.10 Lac plz let me know whether Audit is applicable or not [ I am asking about Income Tax Audit Limit ]

A company has passed its Accounts in the Board Meeting and passed on the same to statutory auditors. Statutory Auditors in the course of their Audit has come across observation and modification to the accounts as approved by the Board has been carried out. The modification were basically in the nature of some classification of accounts/expenditure , and enhanced Depreciation on some assets which have been totally lost their usefulness which has marginally affected the netprofit/loss figures.
The question which now arises is whether the accounts which have now been modified based on the statutory auditor observation needs to be put up to Board for approval or Not?
If Yes, then what will be the secretarial procedure for the same, Can the Board Meeting is to be called again or it can be done through circular resolution?
If No, then what exactly is the sanctity of Board approval at the first place.
Will be thankful to the respondent if Answers to the above may please also be forwarded to ghuliani@gmail.com also.
Regards
Ghuliani

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A firm folloiwng cash system of accounting received professional services from a company on 1st April 08.

The company issued the TDS certificate showing period of payment as FY 2007-08 Asst. Year 2008-09.

Query :

In which year the firm can claim credit of TDS ?

Whether the firm can credit the TDS for the asst year 2009-10

A firm folloiwng cash system of accounting received professional services from a company on 1st April 08.

The company issued the TDS certificate showing period of payment as FY 2007-08 Asst. Year 2008-09.

Query :

In which year the firm can claim credit of TDS ?

Whether the firm can credit the TDS for the asst year 2009-10

A firm folloiwng cash system of accounting received professional services from a company on 1st April 08.

The company issued the TDS certificate showing period of payment as FY 2007-08 Asst. Year 2008-09.

Query :

In which year the firm can claim credit of TDS ?

Whether the firm can credit the TDS for the asst year 2009-10