Answer / h.r. sreepada bhagi

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).

Answer / harsh vardhan pandey

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....

if there is PPF (SAVINGS ) GIVEN IN THE TRIAL BALANCE UNDER THE HEADING CAPITAL THEN WHERE WILL ITS EFFECT BE ??

2 Answers  

---

Why do you want to join audit?

0 Answers   Ernst Young,

---

what would be the Same Number Of GST&CST Number??????

3 Answers  

---

what is auditing?

3 Answers  

---

Explain the basic principles of an internal audit controlsystem?

0 Answers  

---

What is Asset Revaluation? and when it is required?

3 Answers   UBS,

---

What is the most effective team you have ever been a part of ?

1 Answers   Bharti,

---

What is external audit?

0 Answers  

---

what type of questions will be asked in the interviews

4 Answers  

---

whether an independant auditor can increase his fees in properitory firm according to turnover.

1 Answers   MAHINDRA,

---

What would you do if a member of your audit team was under performing?

2 Answers   Ernst Young,

---

What is pr ? why it is prepared and what is its purpose ? who is responsible for preparing it ? And on any fault in it who is liable ? And what will happen if fault comes ?And What are major reasons of fault ?

0 Answers  

---