Question ID :
40385
TAX AUDIT
Is Political Party liable to tax audit?, If yes, Then in which form tax audit shall be filed?
Posted by
Abhinav
on
Sep 10, 2019
Filed Under
AUDIT
Hi Abhinav,
Political parties are required to audit their accounts by a Practicing Chartered Accountant under section 13A of the Act. No form is prescribed in the Act for political parties. They are required to carry out general financial audit considering the guidance note on accounting and auditing of political parties released by ICAI.
Posted by
ASHWIN RAO VARANASHI on
Sep 14, 2019