MOHIT LIQUORS (AUDIT)

1) Receipt of advertisement expenses incurred not presented.

_____________________________________________________________
2) Insurance expenses are not apportioned, Secondly few
receipts not presented.
_____________________________________________________________
3) Interest on late payment of TDS to be traf. to Misc. exp.
_____________________________________________________________
4) Explanation required of TDS calculation of Vijay Sedana &
Mahesh Chabria, Since TDS has been deducted at higher
rates (ie 10% of commission) as per observation but
however it should be deducted u/s 192 by computing.
_____________________________________________________________
_____________________________________________________________
5) Anil Karrira being the salesman in Mohit Liquor (as per
observation) but no salary,commission or profit in lieu of
salary is being reflected in Books of Accounts.
_____________________________________________________________
_____________________________________________________________
6) Electricity expenses of period (14/10/14 14/11/14) not
provided in Books of Accounts.
_____________________________________________________________
7) Franking of Rs. 120000/- entered twice in year but for what??
Explanation and slip for the same required.
_____________________________________________________________
8) Franking fees paid amounting Rs.2490/- (3 receipts)
available but not recorded in Books of Accounts.
_____________________________________________________________

1 CONDUCTED BY GHP & ASSOCIATES (BALDEVSINGH & MINAAL)

MOHIT LIQUORS (AUDIT)

9) Bills for fees paid to CKH & Associates amounting Rs.6934/& SC Mamalankar amounting Rs.6700/_____________________________________________________________
10) Bills/Slips of Grocery market amounting Rs. 98749 for June
2014 & Rs.101668/- for August 2014 not provided in Books
of accounts.
_____________________________________________________________
11) Legal Fees payable (ledger ) doesnt give a clear picture, To
know exact how much is outstanding till date? If only 20000/as per the provision of AY 2015-16 then remaining should be
reversed.
_____________________________________________________________
12) Vouchers of Motor car expenses need to be shown since if
paid to 1 person TDS u/s 194C attracts & if paid to multiple
service providers then to be proved.
_____________________________________________________________
13) Purchase from Reema Agency considered as Sales
promotion amounting 3254994/-, however question arises
that how sales can be promoted by giving cosmetics
products with country liquor.
Also it is noted that new year is peak business season in
which sales promotion expenses need not to be incurred.
Generally Sales promotion needed to incurred in month of
March which is generally off season
_____________________________________________________________
_____________________________________________________________
_____________________________________________________________
14) Rs.1445109/- treated as stock in Sales Promotion. How
come huge stocking is done of stock items which are not
traded in ordinary course of business?
_____________________________________________________________
2 CONDUCTED BY GHP & ASSOCIATES (BALDEVSINGH & MINAAL)

MOHIT LIQUORS (AUDIT)

15) TCS dues & TCS should be combined to one ledger similarly
for Tds.
_____________________________________________________________
16) What is difference between Vehicle expenses and motor car
expenses?? If vehicle expenses are expenses on transport
vehicles how they are not incurred by transporter and
incurred by Mohit Liquor?? Explanation required.
_____________________________________________________________
17)

3 CONDUCTED BY GHP & ASSOCIATES (BALDEVSINGH & MINAAL)