Audit limit

ABHI KUMAR (710 Points)

26 March 2021

wat is d limit for audit 1 cr or 5 cr

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CA. Sourav Sarkar (Chartered Accountant ) (24583 Points)
Replied 26 March 2021

5 crores rupees

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Naveen (student) (334 Points)
Replied 26 March 2021

If ur total cash receipts and payments are less than 5% of total receipts and payments, then limit is 5 crores. Otherwise 1 crore

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Kapadia Pravin (17259 Points)
Replied 26 March 2021

5 crore subject to 95%or more, turnover purchase sale in cheque or digital mode

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ABHI KUMAR (710 Points)
Replied 26 March 2021

Thanks all professionals

jasmeet singh (220 Points)
Replied 26 March 2021

But in case of cheques or draft ,you have to prove it that transactions are through account payee cheques or demand draft

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