Please Help: INTERNAL AUDIT BY NON CA
Posted Date : 11-Jun-2018 , 12:56:46 pm | Posted By: KAUSHAL MITTAL
Category :
Audit | Answers :
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Can an internal audit be carried out by a CA final student in his individual capacity?? if yes, will the remuneration received by him shall be liable for deduction of TDS U/s 194J. Kindly Suggest. |
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| Posted By : Pratyush Agrawal |
27-Nov-2018, 01:23:37 |
| As per section 138 of Companies Act, 2013 " A company may appoint an internal auditor who is a CA or cost accountant or any other professional as decided by board".
Further, payment made to internal auditor is liable for TDS deduction under relevant section. |
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| Posted By : YUGENDRA NAGPURE |
22-Jun-2018, 06:14:50 |
| I do agree with Swami, but still it is very ambigious and a matter of doubt?. Practically companies resorting to internal auditing do prefer qualified ones,but again it is completely managements decretion.No Statue has given any clarification on the same.
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| Posted By : Swamy Karlapudi |
11-Jun-2018, 09:34:37 |
| Yes, liable for TDS deduction. |
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