Hello frnds,
Pls guide is the financial statements like balance sheet and profit and loss accounts are same in tax audit report and statutory audit report ...or they are different...
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STATUTORY AUDIT VS TAX AUDIT
Replies (15)
Quick Summary
Only for companies it will vary since company audit depreciation rates are different when compared to tax audit ..Few Deductions are not allowed in income tax like payments without tds, cash payment exceeding 10k per day etc
I do not think it's correct. Applicability of tax audit and companies act are different.
Everybody knows both are different and that is why she posted the query
Statutory and tax audit are completely different
But the query different..Many figures will be same in both Audits except few
Yes financial statements are same for both audits
IT Computation will be covered with tax audit qualifications
Here querist ask only about financial statements and I replied accordingly, let him reply. Why you become guardian of each querist
Check once who gave correct answer first
Let the other decide, why you become judge of every reply
You are starting unnecessarily
So you stop
Copy paste few hours left
So you started your game
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