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Company audit
Can there b two,auditors of company one statutory and other tax auditor??? If yes then how much balance sheets will,b prepared one or, two???
Replies (3)
yes.. statutory auditor will go with companies act...
tax auditor will go with Income tax act. ..
in real mostly tax & statutory auditor will be same. and yes two balance sheets will be done... for exempt depreciation will be differ from companies act rate to IT Act... and disallowances etc.....
tax auditor will go with Income tax act. ..
in real mostly tax & statutory auditor will be same. and yes two balance sheets will be done... for exempt depreciation will be differ from companies act rate to IT Act... and disallowances etc.....
for example*** not exempt
as you said that there will b two balance sheets
Then repective balance sheets will be filled with concerned departments
Balance sheet as per income tax to income tax department
Balance sheet as per Companies Act to ROC???
Is there any default on comapnies behalf??
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