What Are Tax Audits?

[Enterslice India]

Income tax law directs an audit called ‘Tax Audit’. As is implied form the name, TAX AUDIT is review of accounts of the business organization or an individual in respect of income and deductions along with compliances with the prescribed income tax law.

AI Summary

Forum Discusses Tax Audits: Focus on In-Depth Taxation Queries and Knowledge Sharing Among Members A tax audit is a review of a business or individual's accounts concerning income, deductions, and compliance with income tax laws. Initiated by Enterslice India, the forum discussion on tax audits received two replies. One participant emphasized that the forum is for discussing taxation queries among knowledgeable members, suggesting that general information is unnecessary. Another participant concurred with this perspective, reinforcing the forum's role as a platform for knowledge sharing.