Audit

This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
02 July 2013 what is statutory audit & to whom does it apply & is there any turnover limit for that?

02 July 2013 1)statutory audit is an audit conducted as per companies act..

2)tax audit to be conducted as per income tax act..applicable if turnover exceeds 1 crore or in case of professional if gross receipts exceeds 25 lakhs

3)no turnover limit for statutory audit..once company is incorporated it need to appoint statutory audit every year and get its books audited every year...no turnover limit applicable to all companies.

Thanks & regards
Ganesh babu k


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro
Follow us


Answer Query