Auditors in Chennai — Statutory, Tax & GST Audit

In Chennai we audit subsidiaries of foreign companies, start-ups, trusts and family-owned companies.

Which entities need an audit?

Every company must have its financial statements audited by a chartered accountant (sections 139 and 143 of the Companies Act, 2013), whatever its size. A report under CARO 2020 is also needed unless the company is exempt under paragraph 1(2) of the Order: one person companies, small companies, and private companies that are not a holding or subsidiary of a public company and have paid-up capital and reserves of ₹1 crore or less, borrowings from banks or financial institutions of ₹1 crore or less at all times in the year, and revenue of ₹10 crore or less. An LLP needs an audit if its turnover exceeds ₹40 lakh or its contribution exceeds ₹25 lakh in a year (rule 24(8), LLP Rules, 2009). A trust or institution claiming exemption under sections 11 and 12 of the Income-tax Act, 1961 needs an audit when its income, before the exemption, exceeds the basic exemption limit (section 12A(1)(b)), with the report in Form 10B or 10BB.

Who can sign an audit report?

Only a chartered accountant in practice, or a firm of chartered accountants, can be appointed auditor of a company; a body corporate other than a limited liability partnership cannot (section 141(1) and 141(3)(a) of the Companies Act, 2013). A tax audit report must likewise be signed by a chartered accountant in practice. Our reports are signed in the firm name, V Viswanathan & Associates (FRN 013713S), and each carries a UDIN generated on the ICAI portal, which anyone can verify.

When is a tax audit needed?

For financial year 2025-26, section 44AB of the Income-tax Act, 1961 requires a tax audit if business turnover exceeds ₹1 crore, or ₹10 crore where cash receipts and cash payments are each no more than 5% of the total; a profession needs one if gross receipts exceed ₹50 lakh. The report (Form 3CA or 3CB, with Form 3CD) is due one month before the return due date. From tax year 2026-27 the same limits apply under section 63 of the Income-tax Act, 2025.

What is a GST audit now?

The audit of GST records by a chartered accountant or cost accountant under section 35(5) of the CGST Act, 2017 was removed by the Finance Act, 2021 with effect from 1 August 2021. Since then, a registered person whose aggregate turnover exceeds ₹5 crore files a self-certified reconciliation statement in Form GSTR-9C with the annual return in Form GSTR-9 (rule 80(3) of the CGST Rules, as amended by Notification 30/2021–Central Tax). Both are due by 31 December after the year ends. Taxpayers with aggregate turnover up to ₹2 crore do not have to file GSTR-9 from 2024-25 onwards (Notification 15/2025–Central Tax, 17 September 2025).

Two GST audits remain. Under section 65, GST officers audit a registered person after at least 15 working days' notice in Form GST ADT-01; the audit is to be completed within three months (extendable by up to six months) and the findings are issued in Form GST ADT-02. Under section 66, an officer not below the rank of Assistant Commissioner may, with the Commissioner's approval, direct a special audit by a chartered accountant or cost accountant nominated by the Commissioner, to be reported within 90 days (extendable by 90 days).

Our GST work: we prepare and review GSTR-9 and GSTR-9C, matching the books with GSTR-1, GSTR-3B and the input credit in GSTR-2B; represent you during a section 65 audit and reply to the findings in ADT-02; and carry out section 66 special audits when nominated.

How do we run an audit?

We agree a timetable with you, test controls and transactions on a sample basis, confirm balances with banks and parties, and discuss findings with management before signing. The first auditor of a new company is appointed by the board within 30 days of incorporation, and later appointments are filed with the ROC in ADT-1.

Audit calendar for a 31 March year end

What Businesses in Different Parts of Chennai Need

Residential neighbourhoods

Small companies and start-ups here usually need their first statutory audit set up correctly, with books, registers and the auditor's appointment filed on time.

Village areas

For rice mills, agro-processing units and Farmer Producer Companies here, audits focus on procurement records, stock and member transactions.

Colleges and universities

For educational trusts here, audits check fee receipts, scholarship and grant accounting, and that income is applied to the trust's objects.

Factories and industrial estates

In manufacturing audits here we spend most of the time on inventory: physical verification, costing of work in progress and the stock statements given to banks, which must match the books.

Markets and bazaars

For traders here, audits focus on stock records, cash sales, and matching the GST returns with the books.

Hospitals and clinics

In hospital and clinic audits here, we look closely at billing systems, pharmacy stock and the split between exempt healthcare and taxable sales.

Courts, collectorates and offices

For trusts, societies and professional firms here, audits focus on receipts, application of income to objects, and the conditions for keeping the tax exemption.

Airport and port areas

For importers and exporters here, we check foreign-exchange realisation, the customs and GST records for imports, and the export incentives booked.

Technology parks

For technology firms here, audits focus on revenue recognition for contracts, foreign-currency receivables and the related-party transactions with group companies.

Auditor in Chennai, Area by Area

Why Choose V Viswanathan Associates

Frequently Asked Questions

Does a small private company need an audit?

Yes. Every company needs a statutory audit under the Companies Act, 2013, however small. Some small and private companies are exempt from CARO 2020 reporting, but not from the audit itself.

When must an LLP get its accounts audited?

When turnover exceeds ₹40 lakh or partners' contribution exceeds ₹25 lakh in the financial year. Below these limits, the partners certify the accounts in Form 8.

Do you provide audit services across Chennai?

Yes, in all 119 areas listed on this page, working online with meetings at our Spencer Plaza, Anna Salai office or by video call.

Is a GST audit by a chartered accountant still compulsory?

No. Section 35(5) of the CGST Act, which required an audit by a chartered accountant or cost accountant, was omitted with effect from 1 August 2021. Taxpayers with aggregate turnover above ₹5 crore now self-certify the reconciliation statement in GSTR-9C. A chartered accountant or cost accountant audits GST records only in a special audit directed under section 66.

Who can be appointed auditor of a company?

A chartered accountant in practice, or a firm or LLP of chartered accountants. A company or other body corporate cannot be appointed (section 141 of the Companies Act, 2013).

What is the tax audit limit for 2025-26?

Business turnover above ₹1 crore, or above ₹10 crore where cash receipts and cash payments are each within 5% of the total; for a profession, gross receipts above ₹50 lakh (section 44AB of the Income-tax Act, 1961). From tax year 2026-27 the same limits are in section 63 of the Income-tax Act, 2025.

Other Services in Chennai

Law stated as at 25 Oct 2026. Official sources: Companies Act, 2013 (MCA), Income Tax Department, CBIC (GST). Reviewed by CA V. Viswanathan, FCA, ACS, CFE, IBBI Registered Valuer (IBBI/RV/03/2019/12333).