Service 04
Audit & Assurance
Independent statutory, tax, and internal audit services — covering the revised Form 3CD (applicable from AY 2026-27 onwards), CARO 2020, and IFC requirements for companies of all sizes.
Audit Thresholds & Key Numbers — FY 2026-27 / AY 2027-28
₹1 Cr
Tax Audit Threshold (Business)
Sec 44AB — mandatory if business turnover exceeds ₹1 Cr
₹10 Cr
Digital Transaction Threshold
Higher limit if 95%+ receipts & payments are via banking channels
₹50 L
Professional Receipts Threshold
Tax audit mandatory for professionals above this gross receipt limit
₹3 Cr
Presumptive Tax Ceiling (44AD)
Eligible for presumptive scheme; audit not required below this
₹75 L
Presumptive Tax Ceiling (44ADA)
Professionals eligible for presumptive scheme below this limit
Form 3CD
Effective AY 2026-27
Major overhaul — 30+ new/amended clauses requiring detailed reporting
CARO 2020
Companies Auditor's Report Order
Mandatory for almost all companies — detailed reporting on 21 matters
IFC
Internal Financial Controls
Mandatory reporting under CARO 2020 for all Pvt Ltd companies
What We Cover
Statutory Audit
Independent audit of financial statements in accordance with Companies Act 2013, Indian Accounting Standards (Ind AS / AS), and Standards on Auditing (SA) issued by ICAI. We issue an unqualified or qualified audit report with a clear Management Letter highlighting control gaps and recommendations.
- Financial statement audit under Ind AS / AS
- CARO 2020 reporting on 21 prescribed matters
- IFC (Internal Financial Controls) testing and reporting
- Management letter with actionable observations
Tax Audit (Sec 44AB)
Comprehensive tax audit for businesses and professionals who exceed the prescribed turnover / gross receipts thresholds. We prepare the revised Form 3CD (effective from AY 2026-27 onwards), Form 3CA / 3CB, and ensure all new disclosure requirements — including MSME payment reporting and VDA transactions — are addressed.
- Form 3CD (effective AY 2026-27) preparation
- 30+ clause analysis: MSME, VDA, buyback, TDS defaults
- Form 3CA / 3CB certification by CA
- Coordination with ITR filing and advance tax
Internal Audit & Risk
Risk-based internal audit to evaluate the effectiveness of internal controls, identify process gaps, and prevent fraud. We follow a risk-based audit approach aligned to IIA standards and ICAI guidance, covering financial, operational, and IT controls — with an emphasis on IFC requirements under Companies Act 2013.
- Risk-based audit planning and scoping
- Process audits: procurement, payroll, revenue, inventory
- IFC design and operating effectiveness testing
- Fraud risk assessment and red flag identification
Due Diligence
Financial and tax due diligence for investment decisions, mergers, acquisitions, and fundraising. We review the target's financial statements, tax compliance history, contingent liabilities, related-party transactions, and regulatory filings — providing a clear risk summary for decision-makers.
- Financial due diligence: P&L, balance sheet, cash flows
- Tax due diligence: pending demands, litigation, compliance gaps
- Contingent liability identification and quantification
- Post-DD integration and compliance roadmap
Our Approach
01
Engagement Planning
Understanding your business, materiality thresholds, and risk areas.
02
Fieldwork
Evidence gathering, testing of transactions, and control evaluation.
03
Reporting
Clear audit report with observations, qualifications (if any), and recommendations.
04
Follow-Up
Tracking implementation of recommendations in subsequent periods.
Never miss a deadline
Audit & TDS Due Dates
Key audit, tax return, and TDS deadlines — updated for FY 2026-27.
Compliance Calendar
Statutory Due Dates
10 due dates this month
TDS / TCS Payment
TDS / TCSDeposit TDS / TCS deducted in previous month (Sec 200 / 206C)
→ All deductors & collectors
TDS Return Q4 (Jan–Mar)
TDS / TCSFile Form 24Q / 26Q / 27Q / 27EQ for Q4 FY 2025-26
→ All deductors
Due dates are indicative. Verify extensions with CBDT / CBIC / MCA notifications.
Need help? →Need an audit partner you can trust?
MMG provides independent, thorough, and timely audit services — with clear reporting and no surprises.
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