Audits

Audits

"We have over 10 years of experience in audit practice, focusing on:

  • Tax Audits under the Income Tax Act
  • Statutory Audits under the Companies Act
  • Internal and concurrent audits
  • Pre-investment management audits
  • Bank and government audits

At Pragathi Accounting & Tax Consultancy, Bangalore, we audit for banks, government institutions (CAG appointed), district cooperative banks (NABARD empanelled), MNCs, partnership firms, proprietary concerns, NGOs, societies, and trusts.

Our clients span industries like IT, manufacturing, pharmaceuticals, e-commerce, real estate, and more. We also provide services to startups and incubators. For assistance, contact us at pragathiitads@gmail.com

FAQs on Auditing in India
  • 1. Is Statutory Audit compulsory?
    Yes, under the Companies Act, 2013, all companies must appoint an auditor.
  • 2. Is Audit under Income Tax Act mandatory?
    Yes, businesses with turnover over ₹1 crore or professions with gross receipts over ₹50 lakh must undergo an audit.
  • 3. Is IFRS applicable to private companies?
    IND AS (Indian standards converged with IFRS) applies to companies with a net worth over ₹250 crore. What is ICDS?
    What is ICDS?

    Income Computation and Disclosure Standards (ICDS) are applicable to all taxpayers with business or professional income."