Tax Audit

Fiscal Year vs Financial Year

Fiscal Year vs Financial Year
The terms Fiscal Year and Financial Year are synonymous, i.e. meaning the same thing. They are a period that governments use for accounting and budget purposes. However, they are also the duration on which tax...

PAN Card vs AADHAR Card

PAN Card vs AADHAR Card
PAN stands for Permanent Account Number. It is a number that is issued to any person who pays tax. Aadhar is an UID, i.e. a unique identification number. Its main purpose is to create a database of each...

PAN vs TAN vs TIN

PAN vs TAN vs TIN
A PAN number is a number for anyone who pays income taxes or has financial transactions. TAN is required for any organization that deducts or collects tax at source. A TIN number is required by any dealer or...

Tax Audit vs Statutory Audit

Tax Audit vs Statutory Audit
A tax audit is conducted to ensure that the financial statements of a person or an organization are in order. This may be done on the behalf of the person or company, or it may be a requirement. A statutory...

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