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
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- TAN for Partnership
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Treatment of Pension ?annuity returns on PMVY
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- Free lancer income
- STCG FOR GOLD ETFs
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
