Audit for Real Estate Builders: Project Accounts and Buyer Advances, Reviewed by a CA

They are separate certificates with their own scope. We confirm what the authority needs and quote it separately from the statutory audit.

The method depends on the applicable accounting framework and the contract terms. Percentage-of-completion is common, and we test the stage-of-completion calculations.

Yes. A partnership builder needs a tax audit above the turnover limits, and we plan it alongside the project accounts.

Every audit, attest and assurance report signed by a practising CA must carry an 18-digit UDIN generated through ICAI. You can check it at udin.icai.org. For tax audit reports, the UDIN is also quoted on the Income Tax e-filing portal when the report is uploaded.

Yes. Documents are shared online and review calls run on phone or video, so most audits can be run remotely. Work that needs physical presence, such as stock verification or branch visits, is planned around the location. Our office is at Topiwala Centre, Goregaon West, Mumbai.

A statutory audit is required by the Companies Act (or the LLP Act) and ends with an opinion on whether the financial statements give a true and fair view. A tax audit under section 44AB of the Income-tax Act checks your books against tax law and is reported in Form 3CA/3CB with Form 3CD. An internal audit is a review of controls and processes during the year, and it is mandatory only for the classes of companies listed in Rule 13 of the Companies (Accounts) Rules, 2014.

Yes. Every company must appoint an auditor and get its accounts audited every year, whatever its turnover and even if it has little or no activity. Small company status relaxes some reporting requirements, not the audit itself. A new company's board must appoint its first auditor within 30 days of incorporation.

A business needs a tax audit if turnover is above Rs 1 crore (Rs 10 crore where cash receipts and cash payments are each 5% or less), a professional if gross receipts are above Rs 50 lakh, and certain presumptive-scheme cases also trigger it. For AY 2026-27 (FY 2025-26), CBDT's press release of 28 September 2026 moved the audit report date from 30 September to 21 October 2026 and the return date for covered audit cases from 31 October to 21 November 2026. Transfer pricing cases follow separate dates, so confirm which group you fall in.