Tax consultant in Vadodara
Auditing services and audit support in Vadodara
We prepare your books and documentation for statutory and tax audits, and carry out internal audits and control reviews that catch problems before your auditor — or the department — does.
Auditing in Vadodara
An audit is your business’s financial shield
Many owners see audits as a burden. Done well, an audit builds lender confidence, reduces litigation risk and uncovers leaks in the business.
Statutory and tax audit reports are signed by a practising chartered accountant. Our role is to make sure your records are complete, reconciled and documented before that audit begins, and to coordinate with your auditor so it finishes on time. For internal audits and control reviews, we work directly with you and your team.
Who this is for
- Private limited companies
- Partnership firms and LLPs
- Manufacturers and GIDC units
- Businesses crossing the tax audit limit
What’s included
Our Auditing services
Take the full service, or only the part you need.
Statutory audit support
Every company must have its accounts audited under the Companies Act, 2013, whatever its turnover. We prepare everything the auditor needs.
- Finalised books and trial balance
- Schedules, notes and fixed asset register
- Balance confirmations and reconciliations
- Data for CARO reporting where applicable
- Coordination with your statutory auditor
Internal audit
An independent look at how money, stock and approvals actually move through your business.
- Purchase, sales and inventory cycle reviews
- Cash, bank and expense testing
- Payroll and statutory dues checks
- Findings with practical recommendations
- Follow-up on agreed actions
Tax audit support
When turnover crosses the prescribed limit, accounts must be audited and reported in the prescribed forms. We prepare the data and records behind the report.
- Applicability check against turnover limits
- Data for the tax audit report (Form 3CD)
- GST, TDS and related-party details compiled
- Loans, deposits and cash transaction schedules
- Coordination with the auditing CA
Financial statement review
A second look at your accounts before they go to the auditor, the bank or the department.
- Pre-audit review of books and statements
- Classification and presentation checks
- Matching statements with ITR and GST returns
- Ratio and trend analysis
Compliance checks
A health check of your statutory filings so gaps are fixed before they become notices.
- GST returns and ITC review
- TDS deduction, deposit and return status
- Income tax filings and advance tax
- Statutory registrations and licences
Audit documentation
Well-organised documentation is what makes an audit fast.
- Ledger scrutiny and working papers
- Supporting documents indexed by schedule
- Draft management representation details
- Year-on-year audit files
Business risk and control review
Identify where money or stock could leak, and put simple controls in place.
- Segregation of duties and approval limits
- Cash, bank and payment controls
- Inventory and fixed asset safeguards
- Fraud risk indicators
- Control recommendations sized for SMEs
Good to know
Key audit points and thresholds
Rules change often. These are the points we see clients miss most — ask us how they apply to you.
Tax audit turnover limit
A tax audit is required when business turnover exceeds ₹1 crore — raised to ₹10 crore where cash receipts and cash payments are each within 5% of the total.
Limit for professionals
For doctors, lawyers, engineers and other professionals, the tax audit limit is ₹50 lakh of gross receipts.
Presumptive taxation choices
Businesses that declare profits below the presumptive rate and have income above the basic exemption limit may also need a tax audit.
Penalty for missing a tax audit
Failing to get accounts audited or furnish the report can attract a penalty of 0.5% of turnover, up to ₹1.5 lakh.
Companies are always audited
Every company, including a small private limited company with low turnover, must have a statutory audit every year.
File the report before the return
The tax audit report must be filed before the income tax return due date for audited cases, so books should be closed well in advance.
Documents
What to keep ready
We send a checklist specific to your case. These are the documents most often needed.
- Final books of accounts and trial balance
- Bank statements and reconciliations
- Fixed asset register and invoices
- Stock statements and valuation details
- Loan and deposit statements
- GST and TDS returns filed during the year
- Party balance confirmations
- Previous year’s audited statements and reports
Book a Auditing consultation
Tell us what you need and we will confirm the documents, timelines and fee before starting.
Frequently asked questions
Auditing questions, answered
A statutory audit is required by law and gives an independent opinion on whether your financial statements are true and fair. An internal audit is chosen by management to review processes, controls and efficiency, and its findings are for your own use.
Related services
Other ways we can help
Need help with auditing?
Talk to Keyur Associates, your auditing consultant in Vadodara. We will explain what applies to you and share a clear fee quote.