Finance - FP&A
564 Points
Joined January 2011
I hope by Statutory Audit report u require to know it under Company Act and not Income Tax Act
Under IT Act, Accounts To Be Audited Before 30th September if Applicable.
There is no time limit as such put forth by the Companies Act. but you need to infer the same from other provisions of Companies Act. like the companies should within six months from the close of the financial year place before the AGM the audited accounts. So first cut off date is 30th September. Now deduct 21 days from this date u will get 8 September. This 21 days is for the purposes of giving notice to the shareholder for AGM so for companies complete the audit in AUGUST itself
(source- CA Ashish Upadhay: Our dear expert from CCI)