The threshold limit of statutory audit for Computer Sales & Services companies is Rs. 10 crores in terms of turnover for the financial year 2023-2024. This is according to the Companies Act, 2013.
However, there are some exceptions to this rule.
For example, a Computer Sales & Services company does not need to have a statutory audit if:
◘ It is a start-up company and has not yet completed its three financial years of operation.
◘ A company that is already subject to a statutory audit owns it as a subsidiary.
◘ The company engages in the business of developing, designing, or maintaining computer software.
◘ If you are unsure whether your Computer Sales & Services company is required to have a statutory audit, you should consult with a chartered accountant.
To visit: https://www.mca.gov.in/
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