Hello frnds,
Pls guide is the financial statements like balance sheet and profit and loss accounts are same in tax audit report and statutory audit report ...or they are different...
15 Replies
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 03 September 2022
Only for companies it will vary since company audit depreciation rates are different when compared to tax audit ..Few Deductions are not allowed in income tax like payments without tds, cash payment exceeding 10k per day etc
sabyasachi mukherjee
(27574 Points)
Replied 03 September 2022
I do not think it's correct. Applicability of tax audit and companies act are different.
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 03 September 2022
Everybody knows both are different and that is why she posted the query
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 03 September 2022
Statutory and tax audit are completely different
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 03 September 2022
But the query different..Many figures will be same in both Audits except few
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 03 September 2022
Yes financial statements are same for both audits
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 03 September 2022
IT Computation will be covered with tax audit qualifications
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 03 September 2022
Here querist ask only about financial statements and I replied accordingly, let him reply. Why you become guardian of each querist
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 03 September 2022
Check once who gave correct answer first
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 03 September 2022
Let the other decide, why you become judge of every reply
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 03 September 2022
You are starting unnecessarily
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 03 September 2022
So you started your game
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