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  News & Events
 
23/09/2017
RBI eases foreign investment regulations for corporate debt
Income Tax deptt asks taxpayers to update their information on e-filing portal
GSTN ropes in 39 more companies as Suvidha providers
Income Tax Deputy Commissioner, 2 others arrested in Rs 3 crore bribery case
Tax Payers advised to confirm identities of Income Tax Search Authorities
Clarification about Transition Credit in GST of Rs. 65000 Cr
Notification Issued For GST Actionable Claim On Branded Food Products
20/09/2017
FM asks biz not to wait till last day to file GST returns
Notification regarding GST rate for branded cereal, pulses and flour
Tax audit assessees including Companies may face additional tax compliance burden
Fast-track GST refund, else Rs 65K cr may be stuck - Exporters
19/09/2017
Voluntary Reporting of Estimated Current Income and Advance Tax Liability
CBEC tells field officers to take GST disputes to Supreme Court
List Of Disqualified Directors U/S 164 (2)(A) - MCA
Big 4 accounting firms on IBA's list of forensic auditors
Only 6.9 lakh taxpayers filed GST returns
160 companies to get notices on transitional GST credits
18/09/2017
Income Tax department goes after defunct companies for tax frauds
17/09/2017
Check Online ICAI Membership Fees Payment Status
GoM admits to glitches in network delaying GST filings
GST Composition Scheme registration open till Sept. 30
 
 
  Notification/Circulars
23/09/2017
Investment by Foreign Portfolio Investors in Corporate Debt Securities
21/09/2017
Lending to non-corporate farmers – System wide average of last three years
Trade Repository for OTC Foreign Exchange and Interest Rate Derivatives
19/09/2017
Extension of time limit for submitting the declaration in FORM GST TRAN-1
16/09/2017
Export Data Processing and Monitoring System (EDPMS) Issuance of Electronic Bank Realisation Certificate (eBRC)
GST Registration exemption to casual taxable person supplying handicraft goods
CBEC Notifies section 51 of the CGST Act, 2017 for TDS
CBEC notifies rules for filing Revised GST TRAN-1
Due date for Payment of GST & file Form GSTR 3B for Aug-Dec 2017 notified
13/09/2017
CBEC notifies revised rates of compensation cess on various motor vehicles
Revised Time limit to file GSTR-6 by Input Service Distributor notified - CBEC
CBEC Notification extending time limit for filing of GSTR-1, 2, 3
GST on Charitable and Religious Trusts
Audit

Broadly, Audit involves the following :

  • Indepth study of existing systems, procedures and controls for proper understanding.  Suggestions for improvement and strengthening.
  • Ensuring compliance with policies, procedures and statutes.
  • Comprehensive review to ensure that the accounts are prepared in accordance with Generally Accepted Accounting Policies and applicable Accounting Standards/IFRS.
  • Checking the genuineness of the expenses booked in accounts.
  • Reporting inefficiencies at any operational level.
  • Detection and prevention of leakages of income and suggesting corrective measures to prevent recurrence. 
  • Certification of the books of account being in agreement with the Balance Sheet and Profit and Loss Account.
  • Issue of  Audit Reports under various laws.

 

Types of Audits conducted

  • Statutory Audit of Companies under Companies Act
  • Tax Audit under Section 44AB of the Income Tax Act, 1961.
  • Audit under other sections of the Income Tax Act, 1961 such as 80HHC, 80-IA, etc..
  • Branch Audits of Banks.
  • Audit of Charitable Trusts, Schools, etc.
  • Audit of Co-operative Socities.
  • Internal Audits.
  • VAT Audit under Maharashtra Value Added Tax Act.