Tax audit and balance sheet

24 September 2022

what is the difference between a tax audit and the finalisation of the balance sheet?
and can we make changes in the accounting after a tax audit?

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3 Replies

Eswar Reddy S (CFO- at NHTF) (58259 Points)
Replied 24 September 2022

Accounts are the base for tax audit .

Only IT computation will have the effect of tax audit report.

PL and Balance Sheets will be same

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sabyasachi mukherjee (27105 Points)
Replied 24 September 2022

Wrong pl and balance sheet items are different.

Eswar Reddy S (CFO- at NHTF) (58259 Points)
Replied 25 September 2022

There will not be seperate balance sheet for tax audit..Only IT Computation has all possible changes

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