In My Private Limited company turnover around 2 Crore in a Year, and My Auditor is an Individual has completed his 10 Year of continous period. now he continoue in 11th FY for 2026-27. Is it eligible for Individual Auditor to continoue more than 10 years in Small companies.
Please advice.
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Income Tax Auditor Tenure for Small Companies
Replies (2)
Quick Summary
You are having pvt Ltd company( unlisted) , for appointment of an Auditor and continue his duties are mentioned in section 139(2) of the company Act 2013 read along with rule 5 of the Companies rules 2014 ( please refer) . So as per this section & rule, criteria is paid up Capital & borrowing/ public deposit , and not turnover. So please check both section & rule for Continuation an Auditor .
Take more opinion as well.
Above reply for is considering that Tax audit/ Income tax audit is done by Your Internal auditor and his continuous service.
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