How to handle financial matters

  • HT Education Correspondent, Hindustan Times, New Delhi
  • |
  • Updated: May 21, 2014 11:21 IST

A tax auditor is a person ­permitted to carry out tax audit specified under section 44AB of the Income Tax Act, 1961, to ensure that the accounts of the taxpayer reflect a true and fair picture of his/her income.

Tax auditors play a very vital role in the life of an organisation. Their main ­objective is to compute the taxable income according to the law and to ensure transparency is maintained in the financial statements filed by a person with the income tax department.

He/she should be well versed in the fundamental principles and theory of all branches of accounting and auditing. Sound knowledge of taxation laws and laws governing the business of the client is essential. A tax auditor also needs to be scrupulously honest and should keep all information strictly confidential.

Fair play
A lot of hard work is required and one has to ensure that the finances are reflected fairly

Rs. I take home
Rs. 20,000 per month

I love my job because...
Tax auditors work in offices, but sometimes the work entails travel

Expert gyan
Scope for tax auditors is likely to grow in times to come and they will continue to render their services to the nation

 

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