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Statutory audit
Difference Between Tax audit & Statutory audit ?
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Quick Summary
Statutory Audit Means Audit under any other law except Income Tax law
Statutory audit is nothing but a annual audit which a Company Form of organisation has to do at the end of every financial year under companies Act.
but at the same time tax audit means audit under income tax Act if a company or a person needed that .
but at the same time tax audit means audit under income tax Act if a company or a person needed that .
Statutory audit relates to corporate and bank tax audit is remaining other under section 44AB
Tax audit is compliance with income tax... Statutory audit is compliance with other statutory laws
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