Statutory Audit v/s Tax Audit
This query is : Resolved
01 November 2010
What are the difference between statutory audit and tax audit ???
Is tax audit can be done without statutory audit ?????
Is tax audit can be done without statutory audit ?????
01 November 2010
its not possible
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01 November 2010
Thanks Navin Jain
but 1st question is still pending difference between statutory audit and tax audit???
but 1st question is still pending difference between statutory audit and tax audit???
01 November 2010
STATUTORY AUDIT IS REQURIED AS PER COMPANIES ACT.. IN THE VIEW OF TRUE AND FAIR PRESENTATION OF BOOKS OF ACCOUNTS
TAX AUDIT IS REQURIED AS PER INCOME TAX ACT.....IN THE VIEW OF NON TAX AVOIDNANCE
TAX AUDIT IS REQURIED AS PER INCOME TAX ACT.....IN THE VIEW OF NON TAX AVOIDNANCE
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01 November 2010
Statutory audit
Audit specified under a statute say companies Act.
Tax audit
If the Total sales, Gross receipts or Turnover exceed Rs 40 Lakh then under income tax Act Assessee is required to be audited as per Income tax act for checking whether the provisions of income tax Act has complied with
If you had did statutory audit then Tax audit is not necessary, you are reqired to furnish sucn information
Audit specified under a statute say companies Act.
Tax audit
If the Total sales, Gross receipts or Turnover exceed Rs 40 Lakh then under income tax Act Assessee is required to be audited as per Income tax act for checking whether the provisions of income tax Act has complied with
If you had did statutory audit then Tax audit is not necessary, you are reqired to furnish sucn information
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