Compulsory audit limit

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Business
53 Points Posted on 20 November 2021
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?
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On 20 November 2021 at 00:16 Report
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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.

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Chartered Accountant
24588 Points Posted on 20 November 2021
If you're registered for 44AD, then audit is applicable as profit is less than 8% otherwise audit is not applicable..
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On 20 November 2021 at 05:56
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CA
10436 Points Posted on 20 November 2021
Check your inbox
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On 20 November 2021 at 10:45
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8 Points Posted on 22 November 2021
Wasd dj HFYbB bhkv ch y
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On 22 November 2021 at 01:24

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