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Statutory audit

Mohit Gupta (article) (164 Points)

13 July 2020

Difference between Statutory Audit and Tax Audit?

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CA PRABHAT KUMAR GUPTA (Chartered Accountants) (29 Points)
Replied 16 July 2020

Both are different Audit
1.stat audit mandatory by Companies Act while Tax audit as per Income tax act.
2 Stat Audit mandatory for companies while Tax audit is mandatory if Limited provided in section 44AB crossed.
3 Stat Audit for True and fair view of FS and we have to follow Ind AS /AS while For tax audit ICDS AND other things need to be checked

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Mohit Gupta (article) (164 Points)
Replied 19 July 2020

Thanku sir

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