Statutory audit and tax audit report

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venu (Querist)
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05 November 2017 dear sir,
statutory audit and income tax audit both these financial statements includes b/s and p& loss or any other reports i mean please elaborate the rdifference between of statutory audit and it audit reports and which balance sheet need to give to banks for loan approval

Ashiwini Ballodia

Ashiwini Ballodia (Expert)
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05 November 2017 Only one balance sheet is prepared which is accounting policies followed by assessee. If you are company than companies Act If you are Individual, Partnership, HUF than people use IT Provision instead of any other provision

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