Statutory & Tax Audit in Richmond Town, Bangalore
Last updated: 15 Oct 2026
Quick Answer: Virtual Auditor carries out statutory audits of companies, tax audits, LLP audits and internal audits for businesses in Richmond Town, Bangalore, from our Bengaluru office at Mahalakshmi Chambers, MG Road. Reports are signed by a chartered accountant and filed online with the MCA and the Income Tax Department.
Richmond Town: the local picture for Audit Services
This page covers Richmond Town and Museum Road, just south of Brigade Road. Richmond Town lies in Bengaluru Urban district, Karnataka. Its business mix is typical of a commercial and office district. Nearby areas we also serve include Shanthinagar, Adugodi, Viveknagar and Shivajinagar. We serve clients in Richmond Town from our Bengaluru office at Mahalakshmi Chambers, MG Road. Offices here are often subsidiaries and holding companies, so audits focus on intercompany balances, consolidation and related-party disclosures. Companies with a registered office in Richmond Town come under the Registrar of Companies, Bangalore (Kendriya Sadan, Koramangala). Income-tax appeals from Richmond Town go to the Commissioner (Appeals) and then to the ITAT Bangalore Benches; writs lie to the High Court of Karnataka.
What is a statutory audit?
An audit is an independent chartered accountant's examination of your books and financial statements. Company audits are compulsory under the Companies Act, 2013; tax audits and LLP audits apply above set turnover or contribution limits.
Which audits does a business in Richmond Town need?
Every company, whatever its size, must have its financial statements audited (sections 139 and 143 of the Companies Act, 2013). Most companies also need a CARO 2020 report; small companies, one person companies and private companies within the CARO exemption limits do not.
A tax audit is required when business turnover exceeds ₹1 crore, or ₹10 crore where cash receipts and cash payments are each within 5% of the total, and when a profession's gross receipts exceed ₹50 lakh. Under the Income-tax Act, 2025 the requirement sits in section 63 (formerly section 44AB of the 1961 Act).
An LLP must be audited when its turnover exceeds ₹40 lakh or its partners' contribution exceeds ₹25 lakh in a financial year.
How is the auditor appointed and changed?
The board appoints a new company's first auditor within 30 days of incorporation (section 139(6)). After that the members appoint the auditor at the annual general meeting for a term of five years (section 139(1)), and the company files Form ADT-1 within 15 days. Resignations are reported in ADT-3.
Full details of a statutory audit, including the law, the process and our method: https://virtualauditor.in/statutory-audit-services-india
What you get from Virtual Auditor in Richmond Town
- Audit-trail and internal-control review
- Statutory audit report and CARO 2020 report
- Tax audit report under the Income-tax Act
Documents to keep ready
- Fixed-asset and stock registers
- GST returns and TDS statements
- Loan, lease and major contract documents
Indicative Fee Structure
| Service | Fee |
|---|---|
| Statutory audit (private company) | From ₹25,000 |
| Consultation | Complimentary 30 minutes |
*Prices are indicative and exclude government fees and taxes. Actual fees depend on scope and complexity; contact us for a fixed quote.
Frequently Asked Questions
When must an LLP be audited?
When its turnover exceeds ₹40 lakh or its partners' contribution exceeds ₹25 lakh in the financial year.
How long does an audit take?
For a small company with clean books, usually two to three weeks from the date we receive the trial balance and supporting records. Groups, stock-heavy businesses and first-year audits take longer.
Which offices deal with a statutory audit for a business in Richmond Town?
Companies with a registered office in Richmond Town come under the Registrar of Companies, Bangalore (Kendriya Sadan, Koramangala). Income-tax appeals from Richmond Town go to the Commissioner (Appeals) and then to the ITAT Bangalore Benches; writs lie to the High Court of Karnataka.
Do you also handle a statutory audit for businesses near Richmond Town?
Yes. We also work with businesses in Shanthinagar, Adugodi, Viveknagar, Shivajinagar and Chickpet and elsewhere in Bangalore, on the same terms and online.
Do I need to visit your office from Richmond Town?
No. We serve Richmond Town from our Bengaluru office at Mahalakshmi Chambers, MG Road. Documents are shared securely online, filings are signed with a digital signature, and meetings are by video or at our office by appointment. Call +91 99622 60333 or email support@virtualauditor.in.