Tag Archives: #FinancialAuditRequirements

Audit limits sales services: Are there any threshold limit of statutory audit draft for Sales & Services?

Audit limits sales services   Audit limits sales services Yes, there are threshold limits for statutory audit for traders and stores. The specific limits vary depending on the country or jurisdiction. In India, for example, a trader or store is required to have a statutory audit if its turnover is more than INR 25 crores… Read More »

What is the objective of tax audit?

Tax Audit   Tax audit is a process mandatory by the Indian Income Tax Act, 1961, designed to verify the accuracy of an individual or business’s financial records and tax returns. It is an examination of income and tax deductions to ensure that taxpayers comply with applicable tax laws. The tax audit serves as a… Read More »