Private Limited Company Audit Limit

Every Private Limited Company is required to get accounts audited. Irrespective of the Turnover Limit of the Company. Even a Dormant Company also have to appoint an auditor to maintain their status as dormant.

As per Companies Act 2013, Every Private Limited Company has to get their accounts audited annually and which is irrespective of Turnover. There is no certain limit specified for the statutory audit of the company. There is only 1 limit which is specified for audit is Tax audit requirement limit. Tax audit is mandatory if the company crossed the turnover of 1 crore.

For better understanding see the table down below

Condition Requirement
No Turnover Limited Required. Mandatory for Every Private Limited Company (Even a Dormant Company) Statutory Audit by a Practicing Chartered Accountant
Turnover Exceeds 1 crore Tax Audit and Statutory Audit both are required

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