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Tax audit

vishal saraf (student) (21 Points)

06 May 2017

Can tax audit report be filed without statutory audit being done of and assessee having turnover greater than 1 crore?

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3 Replies

Gourav Popli (27 Points)
Replied 07 May 2017

No, for filing tax audit report it is mandatory to file Audit financial statement

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Madhukar N Hiregange (Chartered Accountant) (39039 Points)
Replied 07 May 2017

GST Audit is quite far away. In the menatime professionals should see how they can support the smaller traders/ service providers to comply with the new law and smoothly transit into it. maybe the first stpe is to see that they register as early as possible and get their a/cs and documents ready.

Next how to raise invoices, do the matching, avail the eligible credit fully etc. Maybe a review audit quarterly for those doing the filing on their own to detect errors which canbe rectified early.