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DIFF BET STATUTORY AUDIT & TAX AUDIT

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(Querist)
31 October 2008 WHAT IS THE DIFFERENCE BETWEEN STATUTORY AUDTI AND TAX AUDIT?
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pnkjay

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pnkjay (Expert)
31 October 2008 Statutory audit is the audit of 12 months accounts and is reqd by Companies Act. Tax audit is nothing but verification of the amounts that is quoted by company as disallowed for tax..It is reqd by IT act
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