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Audit limit
wat is d limit for audit 1 cr or 5 cr
Replies (5)
5 crores rupees
If ur total cash receipts and payments are less than 5% of total receipts and payments, then limit is 5 crores. Otherwise 1 crore
5 crore subject to 95%or more, turnover purchase sale in cheque or digital mode
Thanks all professionals
But in case of cheques or draft ,you have to prove it that transactions are through account payee cheques or demand draft
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