banner_ad

Company Audit & IT Audit

Statutory Audit 1493 views 2 replies

Can anybody tell me the difference (in terms of Task to be performed and formalities to be followed) between Company audit and income tax audit, if u r having a check list for both these audit then please send me.

Replies (2)

hier r so many difference in the income tax audit and company audit:

1.in company audit auditars has to check out that all the records and papers are maintained according to companies act or not where as in income tax audit auditor has to check only income related part of records to  reach on the correct computation of tax and further formalities.

2. company audit is primary activity in relation to IT audit where as IT audit is secondary audit in relation to company audit i.e, IT audit can only b done after completion of all records in company.

3.company audit begans in Sec224 of companies act 1956 where as IT audit has to be done according to IT act 1961 for those whose turnover is more than 40 lakhs.

4.company audit can b only done by companies those r registered under companies act 1956 where as IT audit has to done all assesees whose turnover/income over 40 lakhs.

Cn Any body plz send me the Audit PCC notes On my Id gcp_love @ yahoo.co.in


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details