What is a Statutory Audit for a Section 8 Company?

A statutory audit is a yearly check of a company's accounts by an independent Chartered Accountant. The auditor reads your books, tests the records and gives a written opinion on whether the financial statements show a true and fair view.

A Section 8 company is a non-profit company. It is set up under the Companies Act, 2013 to promote charity, education, science, sports, art, social welfare, religion, research or protection of the environment. Because it is a company in the eyes of the law, it must follow the audit rules in the Companies Act, even though it does not run for profit.

Why is the Statutory Audit Important for Section 8 Company?

An audit is not only a legal task. It helps your organisation in many ways:

• It builds trust with donors, members and the public
• It is needed for grants, CSR funding and bank facilities
• It supports your Income Tax exemption claims
• It keeps your Section 8 licence safe from action by the Registrar
• It shows that funds were used for the stated objects only

Documents Needed for Statutory Audit for Section 8 Company

Keep these ready before the audit begins:

• Certificate of Incorporation, MOA and AOA
• Section 8 licence copy
• PAN, TAN and 12A/80G registration papers
• Bank statements for the full year
• Donation receipts and grant letters
• Expense bills and vouchers
• Trial Balance and ledgers
• Fixed asset list with purchase bills
• Salary records and TDS returns
• GST returns, if registered
• Board and general meeting minutes
• Last year's audited financial statements
• FCRA records, if foreign funds are received

What is the Process of Section 8 Company Statutory Audit?

1. Appoint the auditor and file Form ADT-1
2. Share the records with the CA like bank statements, receipts, bills and ledgers
3. Books are reviewed, and mistakes are pointed out
4. Corrections are made in the books
5. Financial statements are prepared
6. The auditor signs the audit report.
7. The board approves the accounts and holds the AGM
8. File AOC-4 and MGT-7 with the ROC
9. File Form 10B/10BB and the ITR-7 with the Income Tax Department

How Much Does a Section 8 Company Audit Cost?

The fee depends on:

• Number of transactions in the year
• Size of donations and grants
• Condition of your books
• Number of bank accounts and projects
• Whether foreign funds are involved
• Whether old years are pending

An NGO with clean books pays less than one with unrecorded entries. Always ask for a clear quote before you start.

Why Choose CA Arpit Gupta for Section 8 Company Statutory Audit?

A timely audit keeps your NGO safe from legal and tax trouble. CA Arpit Gupta helps Section 8 companies with:

• Appointment of auditor and ADT-1 filing
• Complete statutory audit
• Preparation of financial statements
• Filing of AOC-4 and MGT-7
• Form 10B/10BB and ITR-7 filing
• 12A and 80G related guidance
• Help with pending and old-year filings
• Clear fee quote before work starts

You get simple advice in plain language, with no hidden steps.

Get Your Section 8 Company Audit Done on Time

Do not wait for the last date. Late filing adds extra fees every single day.

Share your last year's accounts and bank statements, and get a clear plan and quote for your Section 8 company's statutory audit.

Call or WhatsApp CA Arpit Gupta at: +91-7081220600.