Hello,
I want to know that if I 'll do trasaction (both Cr & Dr) of more than 15 lacs in my saving account . Then is it required that my account will go for audit . As i 'm not from commerce background . So i don't understand the meaning of Account Aduit. Actully one of my friends told me that if yo 'll have trasanction of more than 15 lacs in your account then your account needs audit . please clarify the meaning of account audit.Kindly also provide information regarding what is the maxium limit of doing transaction in saving account .
kindly provide infomation.