AUDIT AND ASSURANCE
A financial statement audit is a thorough examination of a company’s financial statements to ensure they provide a true and fair view of its financial position. This process involves assessing the accuracy of financial records and adherence to accounting standards.
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Audit and Assurance
Our audit and assurance team prioritizes delivering high-quality services tailored to your specific needs. We strive to offer valuable suggestions that enhance your operations and provide financial guidance when required. Our goal is to provide you with the best audit service in Ahmedabad and Mehsana, fostering a long-lasting relationship built on trust and reliability.
Statutory Audit
The statutory audit is a mandatory requirement to assess a company’s compliance with applicable laws, rules, regulations, and standards. Its purpose is to ensure that the company’s financial statements present a true and fair view of its financial position.
Stock Audit
In essence, a stock audit refers to the physical verification of inventory/stock. The valuation of the stock may also be included, depending on the scope and terms specified in the engagement letter for the assignment. It is crucial to determine the purpose of the audit beforehand, as different audits may have varying approaches depending on the organization’s ultimate objectives.
Management Audit
Management audits offer numerous advantages and executive-level supervision to organizations. As the market becomes increasingly dynamic with frequent and abrupt changes, it becomes crucial to periodically evaluate the efficacy, performance, productivity, profitability, and competitiveness of the business in question.
International Taxation
As globalization becomes increasingly important, businesses worldwide are seeking opportunities to expand into diverse geographies. The prospect of becoming global leaders is driving more and more companies to venture beyond their home countries. At Ashvin K. Yagnik & Co., we take pride in being the leading International Taxation consultant in India, offering comprehensive support in all aspects of international taxation.
Filing of Forms 15CA-15CB
If you are a law-abiding taxpayer, you might be interested in understanding Form 15CA and CB. Form 15CA serves as a declaration for tax remittances and gathers information about payments related to incomes taxable in the hands of non-resident recipients. It is a crucial tool used by the Income Tax Department to monitor foreign remittances and ascertain the tax liability.
Tax Audit
If you are a taxpayer and your business’s turnover or total receipts from any profession exceed the limits prescribed by The Income Tax Act in any previous year, you are required to have your books of accounts audited by an Independent Chartered Accountant. The Tax Audit report must be prepared in accordance with Section 44AB of the Income Tax Act, 1961. The deadline for submitting the Tax Audit report is 30th September of the Assessment Year.
Internal Audit
Internal Audit is a vital aspect of organizational governance and risk management. It serves as an independent function that provides assurance on the effectiveness of internal controls and risk management processes, all in pursuit of achieving organizational objectives.
Fixed Assets Audit
Fixed Assets refer to assets held for the purpose of producing or providing goods and services, not intended for sale in the regular course of business, and expected to be used for more than one accounting period.
Due Diligence
Conducting a merger or acquisition requires meticulous planning and execution. Therefore, before finalizing any deal, the buyer performs specific agreed-upon procedures to assess the agreement’s commercial, financial, tax, and legal aspects.
NRI Taxation
A Non-Resident Indian (NRI) is an Indian citizen who has migrated to a foreign country. In India, tax liability is determined based on residential status rather than the nationality or domicile of the taxpayer.
Residential Status for NRIs
Amidst the ongoing COVID-19 pandemic, numerous NRIs found themselves stranded in India, prompting concerns about their residential status in the country. It is crucial to determine the residential status of an individual for each financial year, as it plays a significant role in deciding their tax liability. The term “residential status” is defined under the Income Tax Act of India and is independent of a person’s citizenship.
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“I can confidently say that AKYCA is the go-to partner for all our taxation needs. Their team’s depth of knowledge, responsiveness, and proactive approach have consistently exceeded our expectations. Whether it’s tax planning, audit, or GST compliance, we trust [Your Company Name] to deliver exceptional results.”
