Tax Audit vs. Statutory Audit

CA Pramod Singhal (CHARTERED ACCOUNTANTS) (68 Points)

26 December 2008

Can any one explain the differecne the work of Tax Auditor or Statutory Auditor.

Thanks in Advance.

Thaks & Regards

Pramod

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4 Replies

(Guest)

Tax audit for those who have annual sales more than Rs. 40,00,000/-

and

Statutory audit is must for all companies

CA Uttam (Chartered Accountant) (406 Points)
Replied 26 December 2008

Tax Auditor does audit as per Income Tax Act 1962.

Whereas Statutory Auditor does audit as per Companies Act, 1962 and Statutory auditor is appointed under section 224 of Companies Act.

CA. Rajeev Aggarwal (Chartered Accountant) (3424 Points)
Replied 26 December 2008

Mukesh is Right

prakash kumar (articalship) (36 Points)
Replied 26 December 2008

rajeev is right.

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