hi,
during the previous year 2007-08, a person had his turnover crossing 40Lakhs for the first time and got his books audited by a CA.
however in the current year, the turnover does not cross 40 Lakhs. should he get his books audited by a CA in the current year also.
Books should be audited only of the financial year in which turnover exceeds Rs.40 lakh. So when in later year turnover is less than that limit books need not be audited. But this limit is not for company and TDS provision must be complied in later year of audit.
Synergy Keystone
Mumbai
CA
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Bharat Shah & Associates
Mumbai
CA Inter
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Murali and Sumeet Chartered Accountant
Bengaluru
CA Foundation
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RoamPrime Technologies Private Limited
Bengaluru
CA
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Suraj Garg and Associates
New Delhi
CA Inter
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CCI
Pro
CAclubindia
