hi experts,
i have some doubts regarding tax audit financial statements and statutory audit financial statements are both the same or not
do we need to maintain 2 sets of financials ?
what is the timeline of activities between tax audit and stat audit up to AGM?
which financials are discussed in AGM?
1)Tax audit has to done as per section 44 AB of the income tax act , it related to income tax .
2)Statutory Audit is done as per section 143 of the Companies Act 2013 , as it's mandatory for all companies , related to companies Act
3)Tax audit has to be on before 30th of November
4) Statutory Audit has to be done within 6 months from the end of the Financial year.
5) Audited Financials Statement are discussed in AGM for consideration and adoption
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