Types

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AMIT KUMAR (Querist)
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28 August 2010 1. How many types of Audit is applicable in indian industry ?

2. Is Audit will be applicable on above 60 lacs sale or above 60 lacs purchase or its depend on total turnover sale+purchase ?

Plz tell what is applicability of Audit ?

Plz ans my above questions.

Thanks in advance.
Amit Kumar

Aditya Maheshwari

Aditya Maheshwari (Expert)
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28 August 2010 1. Statutory Audit, Tax audit, VAT Audit, Internal Audit.

2. Tax audit depends on turnover of the company and if it exceeds Rs. 60 lakhs w. e. f. F. Y. 2009-10 then company liable for tax audit.