Industries
Education & Institutions
Educational institutions - schools, colleges, universities, coaching institutes, and education trusts - have their own specific financial reporting, compliance, and audit requirements. They often operate as trusts or societies, manage fee income, government grants, and hostel and ancillary revenues, and face specific compliance obligations under the Income Tax Act, state education regulations, and, where applicable, FCRA. Our services are built around these realities.
Who This Is For
Schools, colleges, universities, coaching institutes, education trusts, and society-managed institutions that need audit, accounting, financial controls, compliance review, and fund utilisation support.
What We Offer
- ✓Statutory Audit
- ✓Internal Audit
- ✓Accounting & Bookkeeping
- ✓Financial Controls Review
- ✓Compliance Review
- ✓Fund Utilisation Review
- ✓Tax Audit & Advisory
- ✓GST Advisory
- ✓Financial Reporting
- ✓Trust & Society Compliance
- ✓Grant & Fee Income Verification
Our Approach
Understand the entity structure.
Educational institutions operate as trusts, societies, or companies under Section 8 - each with different accounting standards, tax exemption conditions, and compliance requirements. We start by mapping which regime applies.
Verify income, fee collections, and fund utilisation.
Fee income, grant receipts, and fund utilisation are the three areas where educational institution audit most commonly identifies gaps. We verify each against source records.
Ensure tax exemption conditions are maintained.
Many educational institutions operate under Income Tax Act Section 10 or 11 exemption. Maintaining that exemption requires specific compliance - we review and advise on these conditions as part of the audit.
Why SASVA & Associates
Our audit, compliance, and accounting practice covers trusts and societies alongside companies, and our tax advisory work has experience with the specific exemption conditions and compliance requirements of educational and not-for-profit entities. Our government sector experience is also relevant where institutions receive government grants or are subject to government audit.
Related Services
Frequently Asked Questions
Do you audit educational trusts and societies as well as companies?
Yes. Our audit practice covers trusts, societies, and companies registered under Section 8 of the Companies Act.
Can you advise on Income Tax Act Section 10 or 11 exemption compliance for an educational institution?
Yes. Tax advisory for educational and not-for-profit entities, including exemption condition compliance, is part of our service.
Do you verify fee income and grant receipts for educational institutions?
Yes. Fee income verification and fund utilisation review are specific parts of our education sector audit practice.
Can you conduct internal controls review for a school or college?
Yes. Financial controls review tailored to the specific risks of educational institutions is included.
Do you handle accounting and bookkeeping for educational institutions?
Yes. Accounting and bookkeeping for educational institutions and trusts is available as a standalone or combined service.