Statutory audit
Mohit Gupta (article) (164 Points)
13 July 2020
Difference between Statutory Audit and Tax Audit?
2 Replies
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
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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