Dear All,
Please tell me when the clients accounts is to be audited
what is eligibility criteria for audit
4 Replies
Darshu
(CA)
(1580 Points)
Replied 15 March 2008
When total Turnover of tha Assessee in the previous year crosses Rs.40 lacs Audit of his Accounts is compulsory.
Atul Kumar
(CA)
(504 Points)
Replied 15 March 2008
In case of Business when the Turnover exceeds Rs. 40 lakhs during the previous year related to Relevant Assessment Year
In case of Professional when Gross Receipt exceeds Rs. 10 lakhs during the previous year related to Relevant Assessment Year.
ravindra kumar yadav
(Accountant)
(32 Points)
Replied 15 March 2008
if assesse total turnover is above 40 lakh in previous year then audited is complusery a praticiner charterd accountant
Recent Topics
- Profit or Loss on Sale of Assets Accounting treatm
- Clarification on RCM on Rent Payment for QRMP Deal
- Reclaimed itc in gstr9
- Gamification in Accounting Software: Boosting Enga
- I want to knw Hsn code and gst rate of resin produ
- Schedule FA clarification
- Income tax on freelance income from crypto
- ITC temporary reversal and reclaim
- Query on Transactions
- Two GSTN under different PAN in same address
Related Threads
CAclubindia
