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What is the difference between statutory audit and tax audit?

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 asked

What is the difference between statutory audit and tax audit?

taxation Audit
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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

After going through essay geeks review the students can understand the amount of experience a provider has in the relevant area of expertise. There is a reason why students hire professional experts with a lot of experience. It is because these experts can guarantee

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

1.Audit under any statute in a Country(State) is called statutory audit & Audit under any taxation law is called tax audit. 2.Books of accounts are audited under the Companies Act, 2013 (Statutory Audit) and Financial Statements of companies are prepared as per the provisions of this Act. Books are also audited under the Income Tax Act, 1961 and the income arrived at as per the provisions of this Act is taxed (Tax Audit).

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

Dear friend, Following are the different between statutory audit and tax audit:- 1.Audit under any statute in a Country(State) is called statutory audit & Audit under any taxation law is called tax audit. 2.Books of accounts are audited under the Companies Act, 2013 (Statutory Audit) and Financial Statements of companies are prepared as per the provisions of this Act. Books are also audited under the Income Tax Act, 1961 and the income arrived at as per the provisions of this Act is taxed (Tax Audit).

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