Financial Statement Preparation in Pondicherry

Balance Sheet, Profit & Loss Account, Cash Flow statement and Notes to Accounts prepared for businesses in Puducherry — for statutory audit, ITR filing, bank loan applications and MCA annual returns.

Why Financial Statements Matter

Financial statements are the formal record of a business's financial performance and position for a financial year. They are required for:

  • Income Tax Return (ITR) Filing: Proprietors (ITR-3/4), partnerships (ITR-5), LLPs and companies (ITR-6) must attach financial statements to their income tax returns.
  • Statutory Audit: Companies with turnover above Rs. 1 crore (or tax audit threshold) must get accounts audited under Section 44AB. Financial statements are the auditor's primary input.
  • MCA Annual Return: Private Limited Companies must file audited financial statements (Form AOC-4) and Annual Return (MGT-7) with the Ministry of Corporate Affairs every year.
  • Bank Loans & MSME Credit: Banks require 2–3 years of audited or CA-certified financial statements for business loans, MSME credit facilities and working capital limits.
  • Investor Funding: Startups seeking investor funding need GAAP-compliant financial statements showing revenue, expenses, profitability and net worth.

Financial Statements We Prepare

Balance Sheet

Assets (fixed + current), Liabilities (long-term + current) and Equity (capital + reserves) as at the year-end. Prepared as per Schedule III of the Companies Act for companies.

Profit & Loss Account

Revenue from operations, other income, cost of goods sold, operating expenses, depreciation, finance costs and net profit/loss for the financial year.

Cash Flow Statement

Operating, investing and financing cash flows — mandatory for companies. Shows actual cash generated and used during the year.

Notes to Accounts

Detailed disclosures on accounting policies, fixed asset schedule, loans, contingent liabilities, related party transactions and other statutory disclosures.

Who Needs Financial Statements and When?

Business Type Purpose Deadline
Proprietorship / Profession ITR-3/4 filing (no audit up to Rs. 3Cr for cash <5%) 31 July (non-audit), 31 Oct (audit)
Partnership Firm ITR-5 filing + tax audit if applicable 31 July / 31 Oct
LLP ITR-5 + Form 8 (annual accounts) with MCA Form 8: 30 October
Private Limited Company Statutory audit + ITR-6 + AOC-4 + MGT-7 with MCA AGM within 6 months; AOC-4 within 30 days of AGM

Frequently Asked Questions

Do I need a CA to sign my financial statements?
For companies requiring statutory audit, a Chartered Accountant must sign the audit report attached to the financial statements. For proprietorships and partnerships below the tax audit threshold, financial statements can be self-prepared, but CA certification is often required by banks for loan purposes. We work with empanelled CAs for audit and certification needs.
Can you prepare financial statements from incomplete records?
Yes, this is a common request. We can reconstruct financial statements from bank statements, available invoices and tax-filed data. However, incomplete records may limit the accuracy of the statements and may not be certifiable by a CA without sufficient documentation.
What format are financial statements prepared in?
Companies must use Schedule III format (under Companies Act 2013). LLPs follow the LLP Statement of Accounts format. Proprietorships and partnerships use standard P&L and Balance Sheet format. We prepare in the correct applicable format and provide both PDF and Excel versions.

Get Your Financial Statements Ready

Need audited financials for ITR, bank loan or MCA filing? Call us to discuss your requirements and timeline.

Call +91-95977-46476 Enquire Online