Auditing and assurance services are essential for businesses to ensure financial accuracy, transparency, and compliance with regulatory requirements. At Ganesh K Choudhary & Co, we specialize in Income Tax Audits, Company Audits, and GST Audits. Our services help businesses mitigate risks, improve financial reporting, and maintain compliance with Indian laws.
Let’s explore the various types of audit services we provide:
1. Audit under Income Tax Act
The Income Tax Act, 1961 mandates an audit for businesses whose turnover exceeds a specified threshold or those involved in professions with income beyond a defined limit. This audit ensures that the financial statements are in compliance with Income Tax laws and accurately reflect the taxpayer’s true financial position.
✅ Key Types of Income Tax Audits:
- Section 44AB Audit: For businesses or professionals with income exceeding prescribed limits.
- Transfer Pricing Audit: For businesses engaged in international transactions with related parties, ensuring compliance with Transfer Pricing regulations.
- Special Audits: For taxpayers under investigation, requiring an in-depth review of records.
Our team ensures comprehensive audit services, providing clear and accurate financial reports while ensuring compliance with tax laws.
2. Audit under the Companies Act
As per the Companies Act, 2013, every company, whether public or private, is required to undergo an audit to ensure that its financial statements comply with the accounting standards and legal requirements. This audit is typically conducted by a Chartered Accountant who certifies the company’s financial statements for accuracy, completeness, and compliance.
✅ Key Audits under the Companies Act:
- Statutory Audit: A mandatory audit for all companies to ensure compliance with financial reporting standards.
- Internal Audit: Provides an independent evaluation of a company’s internal controls, risk management, and governance processes.
- Consolidated Financial Statements Audit: For companies with subsidiaries, ensuring proper consolidation of financials.
Our audit services under the Companies Act help businesses ensure financial integrity and compliance, reducing the risk of penalties or legal issues.
3. Audit under GST
The Goods and Services Tax (GST) requires businesses to ensure accurate reporting of sales and purchases, and timely filing of returns. While the GST audit has been simplified, it still plays a significant role in ensuring the correctness of tax filings.
✅ Key Aspects of GST Audit:
- GST Annual Return (GSTR-9): Every GST-registered business must file an annual return.
- GST Reconciliation: Ensures that the data reported in GST returns aligns with the company’s books of accounts and sales/purchase records.
- GST Compliance Audit: In certain cases, businesses may be required to undergo an audit by tax authorities to verify GST compliance.
We provide assistance in ensuring your GST compliance and help identify discrepancies to avoid penalties.
Why Choose Ganesh K Choudhary & Co?
✅ Expert Auditors – We bring professional expertise to ensure the accuracy and transparency of your financial statements.
✅ Comprehensive Services – From Income Tax audits to Company and GST audits, we provide end-to-end audit services.
✅ Timely Completion – We ensure your audits are completed on time to meet statutory deadlines.
✅ Compliance Focused – Our services help you stay compliant with regulatory and taxation laws.
📞 Get in Touch for Audit Services Today!
Ensure financial transparency and compliance with Ganesh K Choudhary & Co.