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(Querist)
03 April 2013
Whether practicing cost accountants have the authority to sign on tax audit. i heard that a cost accountant can make tax audit of a company or firm which having turnover up to 10crores.
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CA Dileep Surya Kumar

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CA Dileep Surya Kumar (Expert)
03 April 2013 No. only CA's can perform tax audit under Income tax act.

There is no enabling clause for Cost accountants irrespective of turnover.

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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
03 April 2013 NABARD has decided to appoint 'cost accountants' to do 'stock audit'.
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CA Dileep Surya Kumar

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CA Dileep Surya Kumar (Expert)
03 April 2013 Dear warrierji,

He is asking about tax audit.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
04 April 2013 KumarJi

I mean the hear say may be wrong understanding about 'stock audit' assignment and not appointment of 'tax audit'.

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