Compulsory audit limit

my proprietorship firm's last (2020-21) sale was around 75lakh and GP around 4.5lakh and NP around 2.5 lakh. Do it requires compulsory audit?
Replies (3)
Quick Summary
This discussion addresses whether a proprietorship firm with sales of approximately £7.5 lakh and net profit of £2.5 lakh requires a compulsory audit. The general rule is that if you are registered under Section 44AD and your profit is less than 8%, an audit is not applicable. However, it's advised to check specific registration details for definitive guidance.

If you're registered for 44AD, then audit is applicable as profit is less than 8% otherwise audit is not applicable..
Check your inbox
Wasd dj HFYbB bhkv ch y

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
30 September 2026
Senior Accounts Executive

Codeboard Technology

Chennai

MBA

View Details
Company
19 October 2026
Accountants/Articles (Freshers/Experienced)

ADY & CO.

New Delhi

Graduate (Any)

View Details
Company
06 October 2026
Assistant Manager - Audit and Compliance

Ravi K Jain & Co

Noida

Others

View Details
Company
ARTICLESHIP 17 October 2026
Articled Assistant

RRPM & Associates LLP

Chennai

CA Inter

View Details
Company
ARTICLESHIP 30 September 2026
CA Article Assistant

CA Suraj Garg & Associates

New Delhi

CA Final

View Details
Company
12 October 2026
AUDIT , ACCOUNTS AND TAXATION

KDSS

New Delhi

B.Com

View Details
Company
ARTICLESHIP 07 October 2026
Article Trainee/ CMA Trainee

RMA And Associates LLP

New Delhi

CA Inter

View Details
Company
08 October 2026
SALES TELECALLER

HIRE NOVA

Lucknow

Graduate (Any)

View Details