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Appointment of auditor

Manoj Prasath (nil) (150 Points)

26 November 2015

Is it compulsory to appoint an Auditor for Private Limited Company having Rs.1 lac as share Capital ? Thanks in Advance

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Pranshu Bansal (CA Industrial Trainee) (74 Points)
Replied 26 November 2015

Yes, As per Companies Act, 2013 every company is required to appoint auditor. Share capital is irrelevant.

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Manoj Prasath (nil) (150 Points)
Replied 26 November 2015

Thanks for your Reply, But what about for year 2013-14. Should Auditor be appointed now i.e., in nov 2015 in order to file those returns for the year 2013-14 ?

Pranshu Bansal (CA Industrial Trainee) (74 Points)
Replied 26 November 2015

Audit is compulsory. But i would suggest you to take expert advice in this matter. As non-compliance with provisions of companies act may invite penalty.

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