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Querist : Anonymous

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Querist : Anonymous (Querist)
08 August 2012 Please advise whether there is any audit mandatory for societies (NGO)?
Also whether tax audit limit of Rs 60 Lacs is applicable ?
Please also provide format of Audit report, balance sheet, notes of accounts.
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CA Prashant Gupta

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CA Prashant Gupta (Expert)
12 August 2012 Yes, Statutory audit is required to societies. Yes the tax audit limit of Rs. 60 lacs is applicable.

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