Audit Services iN India
Audit Services
An Audit is an independent examination of financial records, statements, and operations of an organization to ensure accuracy, compliance with laws, and fairness in reporting. Audit helps in building transparency, accountability, and trust among stakeholders, banks, investors, and regulatory authorities.
Types of Audits in India
- Statutory Audit
- Mandatory for companies under Companies Act, 2013
- Conducted by a Chartered Accountant (CA)
- Ensures financial statements give a true and fair view
- Tax Audit (u/s 44AB of Income Tax Act)
- Mandatory if turnover exceeds ₹1 crore (business) or ₹50 lakhs (professionals)
- Conducted by a Chartered Accountant
- Reports in Form 3CA/3CB & 3CD
- Internal Audit
- Conducted by management-appointed auditors
- Reviews internal controls, risk management, and compliance
- Helps in fraud prevention and process improvement
- Stock Audit
- Conducted by lenders/banks to verify inventory & working capital loans
- Prevents overstatement of stock values
- Concurrent Audit
- Continuous audit, generally for banks & financial institutions
- Monitors day-to-day financial transactions
Documents Required for GST Cancellation
Application by Taxpayer
- Login to GST Portal (www.gst.gov.in)
- Navigate to Services → Registration → Application for Cancellation of Registration
- Submit with DSC / EVC
Verification by GST Officer
- Officer reviews the application
- If additional information is needed, GST REG-17 (Show Cause Notice) is issued
- Taxpayer must reply via GST REG-18 within 7 working days
Order of Cancellation
- If found satisfactory, officer issues GST REG-19 (Order of Cancellation) within 30 days
- GSTIN is cancelled and liability is settled
Register Your Private Limited Company Today!
Take your first step towards growth, credibility & funding opportunities with Pvt Ltd Registration.
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Frequently Asked Questions
How long does it take to register a Pvt Ltd Company?
Normally 7–15 working days.
Can a single person register a Pvt Ltd Company?
No, minimum 2 directors and 2 shareholders are required. For single owner, One Person Company (OPC) is an option.
Can NRIs/Foreigners register a Pvt Ltd Company in India?
Can NRIs/Foreigners register a Pvt Ltd Company in India?
Is GST registration mandatory?
Only if turnover exceeds ₹40 lakh (₹20 lakh for services).
What is CIN?
Corporate Identification Number, a unique number issued upon incorporation.
Can I convert my Proprietorship into a Pvt Ltd Company?
Yes, conversion is possible through MCA by following the prescribed process.