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Audit on proprietory concern

This query is : Resolved 
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(Querist)
08 April 2011 I have a proprietory concern providing service my gross receipts for the Fin Year 2010-2011 are Rs.48 lacs The books of accounts shows net loss. I want to know do I need to get my books of accounts audited.
As per my knowledge The Audit limit is 60 lakhs.

Thanks
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U S Sharma

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U S Sharma (Expert)
16 May 2011 yes in case of loss you have to get your accounts audited.
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