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Statutory audit
Difference between Statutory Audit and Tax Audit?
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Quick Summary
Both are different Audit
1.stat audit mandatory by Companies Act while Tax audit as per Income tax act.
2 Stat Audit mandatory for companies while Tax audit is mandatory if Limited provided in section 44AB crossed.
3 Stat Audit for True and fair view of FS and we have to follow Ind AS /AS while For tax audit ICDS AND other things need to be checked
1.stat audit mandatory by Companies Act while Tax audit as per Income tax act.
2 Stat Audit mandatory for companies while Tax audit is mandatory if Limited provided in section 44AB crossed.
3 Stat Audit for True and fair view of FS and we have to follow Ind AS /AS while For tax audit ICDS AND other things need to be checked
Thanku sir
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