Global report and Audit Fees

G

Grules

Member
#1
#1
Hi,

Can anyone tell me what a global report is cos my broker does not know what a global report is and the CA is asking for it because of the Audit. This is the first time i am filing return based on trading and hence i am not sure what to give. I have spoken to 3-4 CA's couple of them have said a Ledger report + PNL is good enough but couple of them are asking for global report. Is anyone aware of global report ? Can a specimen for the same be shared so that i can ask my broker for it urgently.

Also , what are the normal Audit fees if anyone has done Audit from a CA.
 
mmca2006

mmca2006

Active Member
#2
#2
Grules said:
Hi,

Can anyone tell me what a global report is cos my broker does not know what a global report is and the CA is asking for it because of the Audit. This is the first time i am filing return based on trading and hence i am not sure what to give. I have spoken to 3-4 CA's couple of them have said a Ledger report + PNL is good enough but couple of them are asking for global report. Is anyone aware of global report ? Can a specimen for the same be shared so that i can ask my broker for it urgently.

Also , what are the normal Audit fees if anyone has done Audit from a CA.
Click to expand...
global report:confused::confused:probably he is asking Buy / sell transaction report, in detail from broker .Audit fees range -10k to 20 k .
 
Last edited:
G

Grules

Member
#3
#3
ok , i spoke to a few more CAs and i was surprised , someone says we will file it with Ledger , someone says we want capital gain loss computation and someone says a Pnl is good. One of them broke all rules and said , no one does a audit in stock market Filing. Crazy Stuff man. COnfused like never before.
 
P

pakatil

Well-Known Member
#4
#4
Grules said:
ok , i spoke to a few more CAs and i was surprised , someone says we will file it with Ledger , someone says we want capital gain loss computation and someone says a Pnl is good. One of them broke all rules and said , no one does a audit in stock market Filing. Crazy Stuff man. COnfused like never before.
Click to expand...
When IT Dept & CAs are in confused sate, No wonder we all are in deep trouble......:D
 
mmca2006

mmca2006

Active Member
#6
#6
Grules said:
ok , i spoke to a few more CAs and i was surprised , someone says we will file it with Ledger , someone says we want capital gain loss computation and someone says a Pnl is good. One of them broke all rules and said , no one does a audit in stock market Filing. Crazy Stuff man. COnfused like never before.
Click to expand...
.For your FNO trading --ledger A/c & buy -sell transactions report from Broker and bank statement is required documents for Audit.
 
G

Grules

Member
#7
#7
Ya i finally reached a conclusion with a CA and he seems good enough unlike most of them who are so unaware of how to compute turnover . Its ridiculous that CA's dont know what turnover is used for FNO related filing . I am just worried what Audit these CA's must be doing for losses and how accurate will they be cos FNO audit looks very difficult with so many entries . I guess its time the tax board gets some decent taxation policy for traders , its just too confusing for the trader and the CA's with so much of paper workk.

If the government mandates all brokers to give a format which is standard , it will be so helpful and we wont have to go through all the pain of getting various reports from the Brokers , who are only interested in brokerage and no service esp the back office employees
 
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