STATUTORY AUDIT

A statutory audit is a legally mandated independent examination of an entity’s financial records, undertaken to ascertain the true and fair view of its financial performance and position, in accordance with applicable regulatory frameworks and accounting standards. This audit is typically required by legislation for entities surpassing certain thresholds in terms of size, turnover, or public interest.

Our Package Includes:

✅ Auditor Appointment (ADT-1)
All companies registered in India must appoint a statutory Auditor within 30 days of incorporation. Failure to appoint an Auditor will lead to a penalty of Rs.300 per month which compounds and becomes double every month.
✅ Commencement of Business (INC 20A)
Companies registered in India after November 2018 and having a share capital are required to obtain commencement of business certificate before commencing any business or exercising any borrowing powers. The commencement of a business certificate must be obtained within 180 days of incorporation of the company.
✅ Income Tax Return
Private limited companies registered in India must file Income Tax Return on or before 30th September of every financial year. Failure to file an income tax return attracts a penalty.
✅ MCA Form AOC-4
Private limited companies registered in India must file MCA Form AOC-4 on or before given date of every financial year. Failure to file AOC-4 attracts a penalty of Rs.100 per day of default or delay.
✅ MCA Form MGT-7
Private limited companies registered in India must file MCA Form MGT-7 on given date of every financial year . Failure to file MGT7 attracts a penalty of Rs.100 per day of default or delay.
✅ DIN eKYC
DIN eKYC or DIR-3 eKYC form must be filed for all the Directors of the company. In DIR-3 eKYC filing, the Director must provide and verify a unique personal mobile number and personal email address. Failure to file DIN eKYC attracts a penalty of Rs.5000 per DIN.

TAX AUDIT

The legal process by which the appropriate tax authorities thoroughly review a taxpayer’s financial records, tax returns, and supporting documentation is known as a tax audit .Its goal is to guarantee accurate reporting of the taxpayer’s income, deductions, and tax obligations while adhering strictly to all relevant tax laws and regulations.

Major Points Of A Tax Audit:

✔ Compliance: Mandatory and Regulatory some taxpayers, depending on certain thresholds or statutory criteria, must have a tax audit conducted to validate truthful tax reporting.
✔ Professional Inspection: Tax audits are normally performed by experienced experts, like Chartered Accountants, commissioned to examine financial records and attest to the fulfillment of tax obligations.
✔ Maintaining Accuracy and Transparency: The main objective of a tax audit is to ensure that all financial transactions are properly documented and tax liabilities have been accurately computed and paid.
✔ Legal Penalties for Non-Compliance: Non-compliance with tax audit requirements or differences discovered during the audit may result in penalties, interest, or additional legal action.