Please Help: INTERNAL AUDIT BY NON CA
Posted Date : 11-Jun-2018 , 12:56:46 pm | Posted By KAUSHAL MITTAL
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.
Category : Audit | Answers : 0 | Comments : 3 | Hits : 328
Answers:
Comments
swamy karlapudi
11-Jun-2018 , 09:34:37 pmYes, liable for TDS deduction.
YUGENDRA NAGPURE
22-Jun-2018 , 06:14:50 pmI 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.
Pratyush Agrawal
27-Nov-2018 , 01:23:37 pmAs 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.