Services Offered:

1. Pre-Audit Consultation and Documentation Review:
• Offering consultations to understand the nature of the Trust’s operations and to review all relevant financial and legal documents before the audit.
• Ensuring that the Trust’s books of accounts, receipts, vouchers, and other financial records are properly maintained and up to date in preparation for the audit.
2. Coordination with Auditors:
• Assisting the Trust in engaging a certified auditor to conduct the statutory audit as per the provisions of the Maharashtra Public Trusts Act, 1950 or applicable local laws.
• Coordinating between the Trust and the auditors to facilitate a smooth and comprehensive audit process, including providing the necessary financial records and legal documentation.
3. Preparation of Audit Reports:
• Assisting in the preparation of the audit report, which includes details of the Trust’s:
  • Financial transactions, income, and expenditures
  • Balance sheet and profit and loss account
  • Statement of assets and liabilities
  • Details of donations received and their utilization
  • Any discrepancies or irregularities detected during the audit
• Ensuring that the audit report complies with the statutory requirements and accurately reflects the Trust’s financial health.
4. Filing of Audit Report with Charity Commissioner:
• Filing the audit report with the Charity Commissioner’s Office or other relevant regulatory authorities within the statutory deadline, typically by September 30th for Trusts in Maharashtra.
• Handling all procedural formalities, including preparing the necessary documents, submitting them in the required format, and ensuring acknowledgment of submission.
5. Filing with the Income Tax Department:
• Assisting Trusts in filing their annual income tax returns and audit reports with the Income Tax Department, ensuring compliance with the requirements for charitable Trusts under the Income Tax Act, 1961.
• Ensuring that the Trust takes advantage of tax exemptions available to charitable organizations, such as under Section 12A and Section 80G.
6. Compliance with Statutory Requirements:
• Ensuring that the Trust complies with all statutory audit and filing requirements, including the timely submission of reports and filing of forms such as Form 10B (Income Tax Return for Charitable Trusts).
• Assisting in the preparation and submission of additional compliance documents, such as annual returns, budgets, and activity reports.
7. Addressing Audit Irregularities:
• Assisting the Trust in resolving any discrepancies, financial irregularities, or compliance issues identified during the audit.
• Offering legal advice and support to rectify non-compliance or financial mismanagement issues to ensure the Trust remains in good standing with the authorities.
8. Representation in Case of Audit Queries:
• Representing the Trust before regulatory authorities or tax officials in case of any queries, objections, or investigations arising from the audit report.
• Responding to notices from the Charity Commissioner or Income Tax Department and providing additional documentation or explanations as required.
9. Internal Audits and Financial Compliance Reviews:
• Conducting internal audits or financial compliance reviews throughout the year to ensure that the Trust’s financial practices remain transparent and in line with legal requirements.
• Providing recommendations for improving financial governance, internal controls, and record-keeping practices to prevent issues during statutory audits.
10. Ongoing Compliance and Record Maintenance:
• Offering ongoing support to Trusts for maintaining accurate financial records and compliance with all regulatory requirements throughout the year.
• Providing guidance on financial management practices, governance issues, and the proper use of funds to ensure the Trust operates smoothly and efficiently.

Why Choose SHREE LEGALS?

• Expertise in Trust Law and Audit Compliance: With extensive experience in working with charitable Trusts, SHREE LEGALS ensures that the entire audit and filing process is carried out in accordance with legal standards.
• Timely and Accurate Filings: We are committed to ensuring that all audit reports and compliance documents are prepared and filed accurately and on time, avoiding penalties or legal complications.
• Comprehensive Support: From pre-audit preparation to post-audit compliance, we provide end-to-end services to ensure that the Trust’s financial reporting meets all statutory obligations.
• Strong Representation: If any issues arise during the audit or filing process, we offer robust legal representation to resolve disputes and respond to regulatory queries.

For more information or to schedule a consultation regarding Trust Audit and Filing Services, please contact SHREE LEGALS. We are dedicated to helping Trusts maintain financial transparency and legal compliance through efficient audit processes and accurate filings.