When is audit requires to be done????

What is the requirement of audit to be carried out..

1. Sales above 40 Lacs and

2. Transaction in bank above 10 lacs. But i want ans to what does this transaction means for audit.

Balance on any one day in any FY above 10 lacs or total dr or cr?????

Case :

If G Sells business to A and take a DD of Rs. 13 lacs and deposit in personal bank A/c the does G will have to het his books of accounts audited.?

Also tell me the other way he can take  money and deposit in bank but there should not be compulsion to carry out audit in that way?

Can G do this that he may take 9 lacs in DD and other 4 lacs in cash??????