Statutory audit and tax audit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 January 2014
can anyone tell me what is the difference between statutory audit and tax audit? Is the both concept are one and the same??????
15 January 2014
Dear
Statutory Audit is a balance sheet Audit in which auditor has express his opinion that balance sheet is true & Fair in accordance to Accepted accounting principal and as per per scheduled VI of the companies Act.
However Tax Audit is requirement of Income Tax law u/s 44AB in which auditor has issue a certificate in form 3CB & 3CA with Statement 3CD
Statutory Audit is a balance sheet Audit in which auditor has express his opinion that balance sheet is true & Fair in accordance to Accepted accounting principal and as per per scheduled VI of the companies Act.
However Tax Audit is requirement of Income Tax law u/s 44AB in which auditor has issue a certificate in form 3CB & 3CA with Statement 3CD
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- DELIVERY GOLD & SILVER AND OTHER ETF TRADING PROFIT AS BUSINESS INCOME
- GSTR-1A How to update Invoice
- Excess salary payment.
- 3cd- cash system of accounting is allowed?
- Provision for loans that are under Revenue Recovery
- Form 121-contradictory opinions
- APPLICABILITYOF GST ON STUDENT HOSTEL FEES
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Stamp Paper for partnership firm change new income tax 2025
- TDS on Purchase of Immovable Property by NRI from NRI
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
