Query
This query is : Resolved
28 February 2014
what is difference between tax audit and statutory audit.
28 February 2014
tax audit is carried out under section 44AB of the Income-tax Act, 1961.
Whereas statutory audit is any audit conducted under the rules/regulations provided under any statute. For eg Company Audit. In a sense even tax audit is a statutory audit under Income-tax Act.
Whereas statutory audit is any audit conducted under the rules/regulations provided under any statute. For eg Company Audit. In a sense even tax audit is a statutory audit under Income-tax Act.
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