Difference

This query is : Resolved

Saurav (Querist)
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30 January 2009 Can anyone say me that what is the difference between statutory audit and tax audit ? the company who is under going with statutory audit should also that to take tax audit with ca

CA Parvin Ahuja

CA Parvin Ahuja (Expert)
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30 January 2009 Tax audit is applicable to persons whose turnover or gross receipts exceed the limits prescribed under section 44AB of The Income Tax Act. This audit is in addition to any other audit required under any other statue.

CA MEENAKSHI MANGLA

CA MEENAKSHI MANGLA (Expert)
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31 January 2009 Tax audit is required if concern gross turnover or gross receipts excedd the limits mentioned under section 44AB of the Income Tax Act.
Statutory audit is voluntary done by concern even if concern turnover not exceed limit mentioned under section 44AB of the Income Tax Act,it may done statutory audit.

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