Practical audit

haridas rao (73 Points)

06 July 2021  
According to the income tax act. The auditor should disallow any expense made in excess of 10,000 in day in cash. But due to many practical reasons the firm/company can not follow this rule and it would be unjust to deny the firm/company such genuine expenses. Do auditors report this actually in tax audit or do they just leave it. Please reply with how you dealt with this from practical experience during an audit.