Statuatory audit and company audit
This query is : Resolved
17 January 2026
My company name is Aniket India Private Limited and the annual turnover is approximately ₹3 crore.
Due to certain financial constraints, the statutory audit and tax audit for Financial Year 2024–25 could not be conducted within the due time. Additionally, the TDS returns for FY 2024–25 have not been filed for any quarter.
I would like to seek guidance on the following points:
1.Is it still possible to complete the statutory audit, tax audit, and all pending ROC compliances for FY 2024–25 at this stage?
2. If yes, what would be the approximate penalties, late fees, or additional charges applicable under the Income Tax Act and Companies Act?
3. Should I file the pending TDS returns for FY 2024–25 now, even though they were not filed earlier, and will this be mandatory or advisable for completing the statutory audit and tax audit?
Kindly suggest the best practical and legally compliant course of action to regularize all defaults with minimum risk and penalties.
Due to certain financial constraints, the statutory audit and tax audit for Financial Year 2024–25 could not be conducted within the due time. Additionally, the TDS returns for FY 2024–25 have not been filed for any quarter.
I would like to seek guidance on the following points:
1.Is it still possible to complete the statutory audit, tax audit, and all pending ROC compliances for FY 2024–25 at this stage?
2. If yes, what would be the approximate penalties, late fees, or additional charges applicable under the Income Tax Act and Companies Act?
3. Should I file the pending TDS returns for FY 2024–25 now, even though they were not filed earlier, and will this be mandatory or advisable for completing the statutory audit and tax audit?
Kindly suggest the best practical and legally compliant course of action to regularize all defaults with minimum risk and penalties.
18 January 2026
✔ Yes you can complete statutory + tax audit and ROC filings even now.
✔ ROC forms will attract late fees; condonation may reduce consequences.
✔ Tax audit late filing penalty capped at ₹1.5 L (for ₹3 Cr turnover).
✔ File all pending TDS returns now — mandatory for audit + reduces penalties.
✔ Proactive compliance reduces risk, interest, and legal escalation.
✔ ROC forms will attract late fees; condonation may reduce consequences.
✔ Tax audit late filing penalty capped at ₹1.5 L (for ₹3 Cr turnover).
✔ File all pending TDS returns now — mandatory for audit + reduces penalties.
✔ Proactive compliance reduces risk, interest, and legal escalation.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Eway bill for machinery reparing
- Building and other construction workers welfare cess act 1996
- Bank Accounts in Balance Sheet for ITR 3
- Gift of mutual fund units to daughter
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- NRI ITR2 account in 2025-26 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.
- Form 10BD Filling
- Reporting of STCG on Property in ITR
- Error while filling exam form November 2026
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
