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Categories >> Accounting >> Audit
 
 


 

 
 Audit interview questions  Audit Interview Questions (428)
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions (158)
 Taxation interview questions  Taxation Interview Questions (1899)
 Accounting General interview questions  Accounting General Interview Questions (2810)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4363)
Question
WHAT IS DIFFERENCE BETWEEN TAX AUDIT AND STATUTORY AUDIT?
 Question Submitted By :: Audit
I also faced this Question!!     Answer Posted By  
 
Answer
# 1
Audit under any statute in a Country(State) is called
statutory audit & Audit under any taxation law is called tax
audit. For example books of accounts are audited under the
Companies Act, 1956 (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).
 
Is This Answer Correct ?    50 Yes 18 No
H.r. Sreepada Bhagi
 
Answer
# 2
Audit under any statute is called statutory audit. companies act 1956 and income tax act 1961 both are statutes. hence tax audit is also a kind of statutory audit likewise the audit under companies act. but in practice generally we calls audit under income tax act 1961(section 44AB) as a tax audit...however it may also be called a STATUTORY AUDIT... Please carry on this coversation.... 
Is This Answer Correct ?    13 Yes 6 No
Harsh Vardhan Pandey
 
 
 

 
 
 
Other Audit Interview Questions
 
  Question Asked @ Answers
 
i have completed my b.com gradution i want to expert in audit and taxation for this which course should i do   1
We are non excise registration Manufacturer want export to dubai & material received from excise registration manufacturer they are mention excise duty on my bill but we are not getting modvat because of non registration then what we will do that they are not liable to me excise duty on bill   1
why you leave the present job ? DELL 3
What are reasons for giving credit note and sales return to customers?   3
what is convectional audit   1
when Deferred Tax Asset & Deferred tax liability arises? TATA 19
before appoinment, an auditor owes to a company more than rs.1000 and he clears his debt before appointment.he is due to company upto 30-06-06.he is give his report between 01- 04-06 to 31-03-07.what is the duty of the auditor while reporting on the transactios occured in his due period   1
investigation vs audit   6
Is bank reconcilation necessary for any organization ? If yes, when should that performed ?   4
If calls in arrears are presented in the balance sheet in the last year, but they were not received. So how to give the accounting treatment?   1
What is the meaning of XBRL?? KPMG 2
what is a turn over ratio? SSC 5
 
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