75-78, Level 4, A-Wing, KK Market, Dhankawadi, Pune-411043.
What is Statutory Audit?
Statutory Audit is a legal requirement in every business which requires external audit conducted annually to meet a specific set of requirements by the government.
This Audit helps to know the accurate financial position by examine various transaction made. It ensures transparency of financial statement, which makes it easy to deal with your business. It relies on the internal audit reports, verification of financial information, documents and related stock validations. Scope and nature of audit program are subject to the specifications of the governmental body and financial institutions.
How we do statutory audit of all companies like banks, insurance companies, partnership firms, etc?
We scrutinize all financial statements and accounts related to the organization, to ensure their reliability and avoid any misrepresentation or discrepancies and create statutory audit report under companies act. All registered businesses are mandated to undergo this audit for the preparation of accurate financial statements. The audit plays a major role in efficiently managing the operations of the company.
Tax Audit and Transfer Pricing certificate under the Income Tax Act, 1961:
It is mandatory for tax assesses, to undertake tax audit after crossing statutory turnover limit as defined under the Income Tax Act, 1961. The focus of the audit is to comment on the compliance under the various provision of the Income Tax Act, 1961 applicable to the business entity.
Further the provisions of the Income Tax Act, 1961 also requires certification from Chartered Accountant for the transactions entered by the companies with its overseas entities.
How we help you with Statutory Audit procedure?
Interlink Capital in Pune India, undertakes these audits and certification. Tax audits are required under Section 44AB of India’s Income Tax Act 1961 . It should be noted that the provision of tax audits is applicable to everyone, be it an individual, a partnership firm, a company or any other entity. The tax audit report is to be obtained by September 30 after the end of the previous fiscal year.
How we do Cost Audit and other Audits Pertaining Cost Certification?
Certain classes of companies/projects are subjected to Cost Audit under the Companies Act. The focus of the cost audit is to arrive at the cost of the production, capacity utilization, auditors by keeping in view the efficiency of the companies. A cost audit is an important tool for the industry for efficiency management and government to have check & control on the prices.
Interlink Capital undertakes these audits and other compliances pertaining to Cost Certifications.