Have you ever heard about the term audit or tax audit? Who does this work tax audits? Take a deep breath we will answer all your questions one by one. It basically involves the verification of the accounts maintained by the assessee. Auditors validate the Income the tax computation and compliance with the laws of…
Category: Tax Audit
Who is Responsible for Tax Audit Report
Submitting the Tax Audit Report is the final step which requires to be performed in an orderly manner. After the audit is thoroughly done, the auditor submits a detailed audit report with opinions and inferences of the financial statements in a format prescribed by the Institute of Chartered Accountants of India. The report must not…
Things to know about the Tax Audit
Audit is all about review. Tax audit involves the process of reviewing or examining of the books of accounts of a business entity to confirm the income tax computations, deductions and other such financial calculations have been done in compliance with Income Tax laws of the country. Tax audit enables easy income tax computation as…