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Income Tax Audit (Above1CroreUpto2Crore)

Original price was: ₹14,000.00.Current price is: ₹13,845.00.

The audit procedures undertaken for a tax compliance audit differ from financial statement audits in that most of the work focuses on reviewing expense vouchers and verifying the Company’s compliance with income tax laws and regulations.

Description

Section 44AB of the Income Tax Act contains provisions pertaining to the tax audit under the Income Tax Audit. A tax audit is an examination of a taxpayer’s books of accounts. The examination is conducted to ensure that the taxpayer has properly maintained the books of accounts and other records.

The audit procedures undertaken for a tax compliance audit differ from financial statement audits in that most of the work focuses on reviewing expense vouchers and verifying the Company’s compliance with income tax laws and regulations.

The purpose of Tax Audit is to ensure that books of Accounts have been maintained in accordance with the provisions of the Income Tax Act. Tax Audit also ensures that the Accounts are properly being presented to the Assessing Officers when called for.

Public: Businesses whose ownership and debt securities (stock shares and bonds) are traded in public markets in the United States are required to have annual audits by an independent CPA firm. (The federal securities laws of 1933 and 1934 require audits.)

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