ITR-2 for A.Y. 2015-16
1. Eligibility for Form ITR-2 for Assessment Year 2015-16. This Return Form is to be used by an individual or a Hindu Undivided Family whose total income for the assessment year 2015-16 includes:- Income from Salary / Pension; or Income from House Property; or Income from Capital Gains; or Income from Other Sources (including Winning from … Continue reading ITR-2 for A.Y. 2015-16
Read more 2789 Views Leave a commentStatutory Compliance required to be checked during an audit
Introduction: Apart from regular Vouching and Verification, during an audit it is necessary to check the statutory compliance of the statutory body. So, rather than only Service Tax Applications, WCT calculations, and Sales Tax, an auditor needs to verify and check other Labour Laws and the compliance during an audit. So, some of the Labour … Continue reading Statutory Compliance required to be checked during an audit
Read more 10311 Views Leave a commentITR-1 SAHAJ A.Y. 2015-16.
1. Eligible individuals for Form ITR-1 SAHAJ. Individuals who have earned their Income for a financial year only through the following means are eligible to fill the ITR-1 SAHAJ form:- Income from Salary/ Pension; or Income from One House Property (excluding cases where loss is brought forward from precious years); or Income from Other Sources (excluding Winning from … Continue reading ITR-1 SAHAJ A.Y. 2015-16.
SA-505: External Confirmations & its Format
Purview: To give true and fair view on Financials of the company, an auditor is required to ascertain that whether such financials are free from material mis-statement or not. And to obtain a “External Confirmation” from different parties is one of the key material to ascertain such opinion. Objective: The objective of the auditor, when … Continue reading SA-505: External Confirmations & its Format
Read more 14376 Views Leave a commentIndependent Auditor’s Report for 31st March, 2015
INDEPENDENT AUDITOR’S REPORT (In case of Clean Cheat) TO THE MEMBERS OF …………………………………..PRIVATE LIMITED Report on the Consolidated Financial Statements We have audited the accompanying consolidated financial statements of …………………………….PRIVATE LIMITED and its subsidiaries its associates and jointly controlled entities ,comprising of the Consolidated Balance Sheet as at 31st March, 2015, the Consolidated … Continue reading Independent Auditor’s Report for 31st March, 2015
Read more 5476 Views Leave a commentPerforma of Director’s Report, 2015 and onwards
DIRECTOR’S REPORT To, The Members, …………………………….. PRIVATE LIMITED New Delhi, Your directors have pleasure in presenting their …………….Annual Report & Audited Statement of Accounts of the Company for the year ended on 31st March, 2015 FINANCIAL RESULTS … Continue reading Performa of Director’s Report, 2015 and onwards
Read more 4289 Views Leave a commentInternal Audit- An overview
Internal Audit Hi guys, Rajat this side, here I am going to discuss my experience of Internal Audit till date, the discussion is made assuming the auditee being a Company under Indian Companies Act, and I hope it … Continue reading Internal Audit- An overview
A brief on – How to do IFRS Audit
Introduction: IFRS (International Financial Reporting Standards) audit is one of the chanting word among the Indian companies. It is just like preparing a Balance Sheet but it is prepared as per International Financial Reporting Standards. Usually, it is seen that many MNC’s company has its branch offices in India and they want to analyze the … Continue reading A brief on – How to do IFRS Audit
Read more 6205 Views Leave a commentA brief synopsis on CARO, 2015
Notification: Ministry of Corportate Affairs (MCA) has notified the Companies (Auditor’s Report) Order, 2015 on 10th April, 2015. As per new Reporting order, auditor have to report only on 12 elements rather than 21. A brief Synopsis of elements covered in CARO, 2003 and CARO, 2005 are here under: Brief Synopsis: S.No. List of CARO, … Continue reading A brief synopsis on CARO, 2015
Read more 4097 Views Leave a commentIndependent Auditors’ Report for F.Y. 2014-2015
Independent Auditors’ Report TO, THE MEMBERS OF ……………….PRIVATE LIMITED Report on the Financial Statements We have audited the accompanying financial statements of …………….PVT LIMITED, which comprise the Balance Sheet as at 31 March 2015, the Statement of Profit and Loss, the Cash Flow Statement for the year then ended, and a summary of significant accounting … Continue reading Independent Auditors’ Report for F.Y. 2014-2015
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