03 August 2012
I will do the audit of statutory payments from monday, can any body tell me that how to audit statutory payment and which important point kept to be mind during the audit..?
08 August 2012
Hello, This is a wide area for audit. You are going to check: 1. TDS & TCS payments 2. PF (Employee & Employer) 3. Profession tax 4. ESI 5. VAT/CST 6. Excise/Service Tax (Reco with Accounts) 7. Any other tax payment 8. Open assessments for any contingent liability disclosure in financials.
You should know the legal provisions, rules under respective Statutes for deduction of taxes, applicabilitu of taxes and date of tax payments, any specific exemption available for entity under audit.
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