Dear All,
Please tell me when the clients accounts is to be audited
what is eligibility criteria for audit
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Eligibility of Client for Audit
Replies (4)
When total Turnover of tha Assessee in the previous year crosses Rs.40 lacs Audit of his Accounts is compulsory.
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.
if assesse total turnover is above 40 lakh in previous year then audited is complusery a praticiner charterd accountant
ok
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