If we have two current accounts for different businesses, do we need to submit both bank statements for the audit?

If we have two current accounts for different businesses, do we need to submit both bank statements for the audit?

Yes, all current accounts, regardless of the business line they are associated with, must be disclosed during the audit. Full transparency is required to ensure compliance. 

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      Bank statements are required from the date of the last audit up to the date of the current audit. Ensure all statements within this period are complete and readily available for review.

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      It is mandatory to provide all bank account statements to the auditors during the audit. Typically, statements for the last 6 months (or as specified by the audit team) should be kept ready and up to date.

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      A questionnaire in Word format will be emailed to you. You are required to fill it out, sign it, and send it back along with the following documents: Bank account statements (last 12 months) Demat account statements (last 12 months) The auditor will ...

    • Is audit applicable for me?

      To check Tax audit is applicable you need to check your turnover, profit percentage of your turnover, and if you have losses. You can also use our: determine tax audit applicability tool. For more information about Tax Audit Applicability Click Here