Statutory audit&tax audit
This query is : Resolved
16 October 2011
I WOULD LIKE TO THAT IF A COMPANY IS PVT LTD IS IT ENOUGH IF TAX AUDIT ALONE IS CONDUCTED ON YEARLY BASIS OR BOTH TAX AUDIT
AND STATUTORY AUDIT HAS TO CONDUCTED IN A YEAR?
AND STATUTORY AUDIT HAS TO CONDUCTED IN A YEAR?
16 October 2011
Both have to be conducted.
17 October 2011
Statutory audit is compulsory for the companies registered under the companies act in India. However, tax audit is required under income tax act on fulfilment of certain conditions made thereunder.
17 October 2011
If the turnover is below 60/15 lakh, then no need of Tax Audit.
But statutory audit of companies is always compulsory.
But statutory audit of companies is always compulsory.
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