Audit applicable or not
This query is : Resolved
Prakash kumar
(Querist)
04 May 2017
dear sir if total sales during the year 2016-17 is 8656189 in then audit is applicable or not .
CA Idris M K
(Expert)
04 May 2017
From FY 2016-17 Audit is applicable in cases were Turnover (sales) is more than 2 crores.
However audit will also be applicable in cases were Turnover (sales) is less than 2 crores, but the business concern wants to declare Net profit less than 8% of the TO
However audit will also be applicable in cases were Turnover (sales) is less than 2 crores, but the business concern wants to declare Net profit less than 8% of the TO
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