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Eligibility of Client for Audit

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Consultant
42 Points Posted on 15 March 2008

Dear All,

Please tell me when the clients accounts is to be audited

what is eligibility criteria for audit

 

 

 

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On 15 March 2008 at 10:54 Report
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CA
1580 Points Posted on 15 March 2008
When total Turnover of tha Assessee in the previous year crosses Rs.40 lacs Audit of his Accounts is compulsory.
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On 15 March 2008 at 11:42
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CA
504 Points Posted on 15 March 2008
In case of Business when the Turnover exceeds Rs. 40 lakhs during the previous year related to Relevant Assessment Year In case of Professional when Gross Receipt exceeds Rs. 10 lakhs during the previous year related to Relevant Assessment Year.
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On 15 March 2008 at 12:58
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Accountant
32 Points Posted on 15 March 2008

if assesse total turnover is above 40 lakh in previous year then audited is complusery a praticiner charterd accountant

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On 15 March 2008 at 17:06
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Consultant
42 Points Posted on 15 March 2008
ok
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On 15 March 2008 at 18:35


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