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Statutory Audit

FAHEEM AKRAM (293 Points)

06 April 2018

Tax audit is covered Under the difination of Statutory Audit???
or its diffrent each other??

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(Guest)

Statutory audit is audit done due to requirement under a law. Like companies act. Tax audit is also a statutory audit as it is done due to requirements under income tax act.

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FAHEEM AKRAM (293 Points)
Replied 06 April 2018

if annul return of GST ask statutory audit yes or no??? so what will give option??

(Guest)

It means audit done under GST, e.g. as per section 35, audit is mandatory if turnover is more than 2 crore.

FAHEEM AKRAM (293 Points)
Replied 06 April 2018

suppose i have turnover 1.45 Crore and i do tax audit in this case there is shown our audit in GST annual return

(Guest)

Tax audit is done under income tax. That is not asked in this annual return. It asks for audit done under GST laws.

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