Audit and ROC returns

Hi,

I am an IT consultant. I work at a company and also teach at an educational institute.

I registered a proprietorship in 2017 and since then I have been paying service tax/GST properly.

I file ITR3 typically since it takes care of both my salary income as well as consultation income.

I recently heard about ROC returns -- do I need to file them?

My income from consultation has not crossed 50 lakhs but my overall income is more. Do I need to get audited?

Please let me know.

Regards,

Ramesh

Replies (3)
Quick Summary
An IT consultant registered as a proprietorship is seeking clarification on whether they need to file ROC returns and undergo an audit. While their professional income is below £50 lakh, their overall income exceeds £1 crore. They are also inquiring about the typical time and cost involved in an audit.

In my opinion I don't think you need a ROC being a proprietarship
to tell you need audit or not is depends upon many factors
what is your overall income if it crosses 80 lakh being better to audit

Thanks a lot for your time, Ayusmita.
I always thought that audit needs to be done if professional income from consultation crosses 50 lakhs.
In my case, my overall income is >1cr. My salary income is more. But my professional income from consultation is <50 lakhs.
In that case, should I get audit done? Please let me know.
Also, typically how much time/money does a typical audit cost?

Sec 44ADA states, audit is required for professional only if turnover exceeds Rs 50 Lacs.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
16 September 2026
Internal Audit - Team Lead

Consulting & Beyond

Chennai

CA

View Details
Company
ARTICLESHIP 18 September 2026
Industrial Trainee

Twenty Point Nine Five Ventures Private Limited

Noida

CA Inter

View Details
Company
Featured 12 September 2026
Assistant Manager - Finance & Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
25 August 2026
Senior Accountant

MG Associates

New Delhi

CA Inter

View Details
Company
28 August 2026
Assistant Manager

NRS AND ASSOCIATES

Kozhikode

CA Inter

View Details
Company
ARTICLESHIP 16 September 2026
CA Article Trainee

SR BAGAI & Co.

New Delhi

CA Inter

View Details
Company
29 August 2026
Chartered Accountant

Velionit Consulting PVT LTd

Mumbai

CA

View Details
Company
18 September 2026
Accounts & Finance Specialist

ULTRA CHEMICAL WORKS

Thane

CA Final

View Details