Auditor and Tax Consultants in Bangalore

Balakrishna & Co., auditors, Audit firm and tax consultants in Bangalore is an intelligent and dedicated team of chartered accountants, company secretaries and trained audit staffs who can provide different kinds of audit services to Indian and foreign companies. We are providing following audit services.

Tax Audit

Tax audit is prescribed under income tax act 1961. Income tax act 1961 provides the compulsory audit of accounts of certain assessee whose turnover or gross receipts exceeds the prescribed limit. The tax audit can be undertaken only by practising chartered accountants. A chartered accountant has to conduct tax audit as per rules and regulation prescribed under income tax Act.

Though the object of the tax audit is to assist the tax authorities in determination of correct tax liability under income tax act, with the vast experience in conduction tax audit, we provide tax consultancy services to our clients with better tax planning within the preview of income tax law.

Statutory Audit or Auditor

Statutory audit is a compulsory audit prescribed under statue or law. Appointment of auditor, their rights, duties, liabilities are prescribed under the provision of respective law applicable to the organisation covered under statutory audit. Statutory audit can only be conducted by practising Chartered accountants.

Statutory auditor has to report whether the financial statements including balance sheet and profit and loss statement are drawn upon conformity with law and whether they show true and fair view.

Audit of public sector companies and Banks

Our firm is empanelled with C & AG of India to conduct audit of public sector undertakings as well as public sector banks in India. Public sector undertakings are financed by State or government setup under company act 2013

Audit of Trusts and Non-Profit Organisation

Audit of accounts trust and non-profit organisation will serve as a basis for relying on the persons at the helm of affairs ie member of governing body or managing committee. It helps in protecting the assets of trust and non-profit organisation. Audit of trust and non-profit organisation is governed by Rules and bylaws of the trust and non-profit organisation. The audit is also required under income tax act.

Concurrent Audit, Internal audit, Continuous Audit of Companies

Concurrent audit, internal audit, continuous audit is one where the auditor is constantly or at regular interval s engaged in checking the accounts during the period. Continues audit means an audit at regular intervals throughout the accounting year. It does not mean that the audit work on for 365 days of the year but visit at periodical intervals say every two or three months during the year and at the end of the year.

We have sufficient trained staff strength to handle Concurrent audit, internal audit, continuous audit depend on the companies requirements. Our internal audit team works in an independent and objective manner to add value and improve an organization’s operations through our audit and assurance services.

Interim Audit

Interim audit is conducted in between the annual audits. It is generally conducted to find out the interim profit or loss as well as to check statutory compliance. We conduct interim as if it is a final audit for the concerned period. It helps us to complete final audit in time as well as helps us to advice clients on various matter time to time. Interim audit will provide us sufficient time to do balance sheet audit.

Balance Sheet Audit

Balance sheet audit generally conduct only if auditor assumes that there is a system of internal checks and controls. Balance Sheet audit ideally suites in case of large organisation with large transactions.

Under the balance sheet audit, we conduct audit based on analytical review of each items with previous year, investigate the reason for abnormal variances, check ratios such as current ratio, debt equity ratio, check all unusual and non recurring transactions, compare items in the profit and loss account which are directly related to assets of the company etc

Non Statutory Audit

Non-Statutory Audit is performed on financial statements which do not fall under the requirements of statutory audit, but which may be required to meet industry or stakeholder requirements. Balakrishna & Co offers non statutory audit services to meet stake holder requirements.

Cost Auditor

Company act has made cost audit mandatory to certain categories of companies engaged in the production processing, manufacturing and mining activity. Cost audit is an examination of cost accounting records and verification of the facts to ascertain the cost of the product under reference has been carried at in accordance with principles of cost accounting and evolution of adequacy of proper cost accounting record and their maintenance.

With the assistance from cost auditor, Balakrishna & Co helps client to fulfil cost audit requirement required as per company act 2013 as well as management.

Secretarial Audit by practising company secretary

Practising company secretary is authorised to conduct secretarial audit to ensure working of the company is in accordance with the provisions of Company act 2013 and other applicable law. The secretarial audit is conducted to ensure that full and adequate compliance to various legal requirements are established while implementing decisions taken by the management.

We have in-house team of company secretaries in Bangalore to conduct secretarial audit for our clients.

VAT Audit under Karnataka VAT

Every dealer whose turnover in the Karnataka state exceeds Rs. 1.00 crore is required to get his accounts audited under Karnataka Value added tax 2013 and shall furnish VAT audit report in Form 240 before 31st December every year.

We Balakrishna & Co conduct audit of accounts under the KVAT Act, 2003 concurrently along with the audit under the Companies Act 2013 or under the Income Tax Act, 1961 to avoid duplication of work.

Service Tax Audit

Service tax department select cases for service tax audit and conduct audit to check tax evasion. With computer assisted audit programme and advanced audit techniques, the audit officers come with an audit plan and conduct the service tax audit in the interest of revenue.

Sections 72 and 73 enable the Central Excise Officer to assess the service tax turnover and the tax thereon properly and recover the short-paid or excess-refunded tax, if any.

Service tax experts in Balakrishna and Co will assist in handling service tax audit in Bangalore and coordinate with service tax department to smooth conduct of completion of service tax audit.

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  • Ph: 9845721255 / 9448080886,
  • Email:,
  • Balakrishna & Co|Chartered Accountants,
  • # 24,3rd Floor, Above State Bank of India,
  • 10th Cross, Wilson Garden, Bangalore - 27.

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