As per Section 139(2), an individual cannot be appointed as an auditor for more than 5 consecutive years and an auditors firm for not more than 10 years? My query is, does the above provision apply for Private companies with paid up capital below 20 Crores?
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Tenure of auditor in private limited company?
Replies (3)
Dear divya.
the aforesaid limit of tenure is applicable on such companies
I have written article on same topic if u want then mail me.at csdiveshgoyal @ gmail.com
The limit for applicability of Section 139(s) is on Unlisted Public limited companies having PUC more than 10 cr and Private Limited companies ahving PUC more than 20 crores and all listed companies.
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