URGENT!!! Maintaining books of accounts

nac

Well-Known Member
#1
I have few doubts... This is the first time I am consulting for this reason.

Is this alright to give our personal details like PAN, name, mobile, address and all to the one who will maintain books for us? Coz these details are present in contract note. And they wanna verify things online, so asked for DOB too... :eek: That's pretty much everything, right?

They asked for a report (which I haven't heard of before), which is from NSE contains all my transaction for the whole year. Does such report exists? If yes, how can I download?

I will really appreciate quick repy. :)
Thank you.
 

marimuthu13

Well-Known Member
#2
I have few doubts... This is the first time I am consulting for this reason.

Is this alright to give our personal details like PAN, name, mobile, address and all to the one who will maintain books for us? Coz these details are present in contract note. And they wanna verify things online, so asked for DOB too... :eek: That's pretty much everything, right?

They asked for a report (which I haven't heard of before), which is from NSE contains all my transaction for the whole year. Does such report exists? If yes, how can I download?

I will really appreciate quick repy. :)
Thank you.
Hi
you can ask your broker to give you report to file IT return, they will give you both P/L and
ledger (with detailed transanctions)... you can use same for filing IT return..

by the way, be cautious of TAX consultant (CA) price ,
 

nac

Well-Known Member
#3
Thank you so much...
Sure, I will ask my broker for the reports.

Since I fall under a category where I must do turn over audit, so approached this accountant to make books of accounts. He asked for those details, as this is my first time I am not sure whether this is the practice or not. So is that alright to give those information? Seems logic that they can't do things to file ITR without the info... :)
 

Trader J

Well-Known Member
#5
Thank you so much...
Sure, I will ask my broker for the reports.

Since I fall under a category where I must do turn over audit, so approached this accountant to make books of accounts. He asked for those details, as this is my first time I am not sure whether this is the practice or not. So is that alright to give those information? Seems logic that they can't do things to file ITR without the info... :)
I ahve one Q, What type of entry accountant want in BOOK ? My accountant want daily sale purchase entry for F & O trade. Please reply.
 

nac

Well-Known Member
#6
^ I don't know.
Yes, Purchase and sell entry for F/O trades should be posted in the books of accounts. But I am not sure about MTM entries??? Any one would like to throw some light on it...
 
#7
I have few doubts... This is the first time I am consulting for this reason.

Is this alright to give our personal details like PAN, name, mobile, address and all to the one who will maintain books for us? Coz these details are present in contract note. And they wanna verify things online, so asked for DOB too... :eek: That's pretty much everything, right?

They asked for a report (which I haven't heard of before), which is from NSE contains all my transaction for the whole year. Does such report exists? If yes, how can I download?

I will really appreciate quick repy. :)
Thank you.
Hi nac

IMO, do not provide DOB, to anyone. I dont think they have anything to do with it.

Please do keep on sharing your working experience of accounts with a CA. BTW, how much he is charging for it. Not necessary exact figure, some idea only.

Thanks
 

nac

Well-Known Member
#8
Yeah, sure I will post the bottom number after everything is done and filed.

It seems like we have provide information like DOB. They want to verify it... I think when the CA does T/O audit, he will sure ask for it.

Guys, I could use some info/replies from your side. Especially, those who have done this process (filing IT, T/O audit) before. :) Exactly, one month for the deadline.
 
#10
Heard that if one's profit is less than 8% of turnover, deadline for filing ITR is September. Is it?
Please consult a CA as he will guide you properly. My understanding is if Tax Audit is necessary then the date is 30 September but normal audit the date will be 31 July. But check from a professional CA.

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