How can I become a tax auditor in India?

Step 1:

1. To become an auditor, the candidate must have a bachelor’s degree in Accounting. However, some employers prefer candidates with a relevant master’s degree in accounting or an MBA.
2. Candidates can also take up a course in computer accounting software such as Tally or other related diplomas.

Who is eligible to be a tax auditor?

Any business where the total sales, turnover or receipts is in excess of Rs. 1 crore in a year. As a professional, receipts over Rs. 50 lakh makes you eligible for a tax audit.

What are the qualities of tax auditor?

Analytical thinking – tax auditors use their analytical skills to study documents and financial data and isolate important data. Attention to detail – tax auditors need great attention to detail to thoroughly examine financial records, receipts, and documents of all types, and to locate essential information.

What is the minimum qualification of an auditor?

Minimum of 4 years of work experience and 4 audits (Stage-II audit/Re-certification audit) as auditor-in-training and on-going evaluation shall be satisfactory with an average score of 5 or more. and identify the CPA codes in the application (MSC F7.

Who Cannot be appointed as tax auditor?

The audit of accounts of a professional firm of Chartered Accountants cannot be performed by any partner or employee belonging to such firm. An internal auditor of the assessee cannot be appointed as a tax auditor. An auditor cannot accept more than 45 tax audit assignments in a particular financial year.

How do I become a tax auditor?

Courses & Eligibility

1. Diploma in Accounting & Auditing.
2. Post Graduate Diploma in Accounting.
3. Diploma in Taxation.
4. Diploma in Tax & Company Law.
5. Advance Diploma in Financial Accounting & Taxation.
6. Advance Diploma in Taxation.
7. Post Graduate Program in Tax Management.

What is the scope of tax audit?

The scope of a tax audit encompasses an examination or review of the books of accounts of any business or profession maintained by taxpayers, conducted by a Chartered Accountant (CA). The tax audit is performed from an income tax viewpoint.

What skills do auditors need?

Key skills for auditors

• Meticulous attention to detail.
• A strong aptitude for maths.
• Excellent problem-solving skills.
• A keen interest in the financial system.
• Ability to work to deadlines, under pressure.
• Ability to work on your own initiative and as part of a team.
• Strong IT skills.

How do I become an auditor without a degree?

Use the following steps as a guide to become an accountant without a degree:

1. Make a list of what you already know.
2. Enroll in an accounting certification course.
3. Look for volunteer experience.
4. Get a full-time job in an accounting department to gain experience.
5. Reach out to other accountants.

How to become an auditor in India?

For anyone who’d like to become an auditor in India, the first step needed to be taken, is to attend high school. This step is very important, and there’s almost nothing you can do to avoid it. There’s nothing so difficult about it, as long as you’re willing to dedicate time and a lot of mental effort.

What are the qualifications of an auditor?

An auditor must also possess a valid Certificate of Practice from the Institute. It is also necessary to have knowledge of relevant statutory rules, clarifications, modifications and circulars etc.

Who can be appointed as an auditor of the company?

(a) only a chartered accountant is eligible to be appointed as an auditor. (b) new disqualification have been introduced for appointment as an Auditor of the Company. (c) in case of a firm or LLP, only the partners who are chartered accountants shall be authorised to act and sign on behalf of firm or LLP.

What is the qualification required to audit a joint stock company?

However in the case of auditors of joint stock companies, the auditor must be a Chartered Accountant within the meaning of Chartered Accountant Act, 1949. He must pass Chartered Accountant (C.A) examination conducted by the Institute of Chartered Accountants of India (ICAI).