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tax audit object & rules
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Answer Posted / vamshi krishna gunde
Tax audit is an examination/review of accounts of the business /profession from income tax view point such as income, deductions, compliance with income tax law etc.
Objectives of tax audit
1)Ensure proper maintenance and correctness of books of accounts
2)Reporting of observations/discrepancies
3)Reporting prescribed information such as tax depreciation, compliance of various provisions of income tax law etc.
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