Statutory Audit v/s Tax Audit
This query is : Resolved
01 November 2010
What are the difference between statutory audit and tax audit ???
Is tax audit can be done without statutory audit ?????
Is tax audit can be done without statutory audit ?????
01 November 2010
its not possible
Message likes :
1 times
01 November 2010
Thanks Navin Jain
but 1st question is still pending difference between statutory audit and tax audit???
but 1st question is still pending difference between statutory audit and tax audit???
01 November 2010
STATUTORY AUDIT IS REQURIED AS PER COMPANIES ACT.. IN THE VIEW OF TRUE AND FAIR PRESENTATION OF BOOKS OF ACCOUNTS
TAX AUDIT IS REQURIED AS PER INCOME TAX ACT.....IN THE VIEW OF NON TAX AVOIDNANCE
TAX AUDIT IS REQURIED AS PER INCOME TAX ACT.....IN THE VIEW OF NON TAX AVOIDNANCE
Message likes :
1 times
01 November 2010
Statutory audit
Audit specified under a statute say companies Act.
Tax audit
If the Total sales, Gross receipts or Turnover exceed Rs 40 Lakh then under income tax Act Assessee is required to be audited as per Income tax act for checking whether the provisions of income tax Act has complied with
If you had did statutory audit then Tax audit is not necessary, you are reqired to furnish sucn information
Audit specified under a statute say companies Act.
Tax audit
If the Total sales, Gross receipts or Turnover exceed Rs 40 Lakh then under income tax Act Assessee is required to be audited as per Income tax act for checking whether the provisions of income tax Act has complied with
If you had did statutory audit then Tax audit is not necessary, you are reqired to furnish sucn information
Message likes :
3 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Sale of property furniture sale
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- RCM INVOICING FROM NOV-2024
- Confusion around Form 26QB fields
- Tds on building rent monthly
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- TDS under section and rate of TDS
- GST input on scooter purchased
- TDS under section 194Q and TCS under section 206C
- GST input on car insurance and repairs
- GST input on Diwali gift to employee
- GST input on Mobile Handset
- Material and freight in same invoice
- TDS under section 194J inclusive of reimbursement of expenses
- TDS on Material and Labour in same invoice
- Should I be worried about and rectify reporting Jan,Feb ,March 2024 foreign salary in schedule FA?
Trending Online Classes
CAclubindia
