{"id":15638,"date":"2023-08-29T06:22:27","date_gmt":"2023-08-29T06:22:27","guid":{"rendered":"https:\/\/vibrantfinserv.com\/kb\/?p=15638"},"modified":"2024-05-03T07:20:41","modified_gmt":"2024-05-03T07:20:41","slug":"threshold-limit-of-statutory-audit","status":"publish","type":"post","link":"https:\/\/vibrantfinserv.com\/kb\/threshold-limit-of-statutory-audit\/","title":{"rendered":"What is the threshold limit of Statutory audit due date for Organizations, Charitable and Social Service?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_79 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/vibrantfinserv.com\/kb\/threshold-limit-of-statutory-audit\/#Threshold_Limit_of_Statutory_Audit\" >Threshold Limit of Statutory Audit<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/vibrantfinserv.com\/kb\/threshold-limit-of-statutory-audit\/#1_Threshold_Limit\" >1. Threshold Limit:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/vibrantfinserv.com\/kb\/threshold-limit-of-statutory-audit\/#2_Due_Date_for_Statutory_Audit\" >2. Due Date for Statutory Audit:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/vibrantfinserv.com\/kb\/threshold-limit-of-statutory-audit\/#3_Consequences_of_Non-Compliance\" >3. Consequences of Non-Compliance:<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"Threshold_Limit_of_Statutory_Audit\"><\/span><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-18 alignleft\" src=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/05\/Logo-Vibrant-FinServ-300x143.png\" alt=\"\" width=\"92\" height=\"44\" srcset=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/05\/Logo-Vibrant-FinServ-300x143.png 300w, https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/05\/Logo-Vibrant-FinServ.png 482w\" sizes=\"auto, (max-width: 92px) 100vw, 92px\" \/><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;The threshold limit for statutory audit and the due date for Organizations, Charitable, and Social Service entities in India are as follows:\\n\\nThreshold Limit: Organizations, Charitable, and Social Service entities in India are required to undergo a statutory audit if their total gross receipts or total income in the financial year exceed Rs. 25 lakhs.\\n\\nDue Date for Statutory Audit: The due date for the statutory audit of Organizations, Charitable, and Social Service entities in India is generally September 30th of the assessment year following the financial year. For instance, if the financial year ends on March 31, 2023, the statutory audit report would typically be due by September 30, 2023.\\n\\nConsequences of Non-Compliance: Failing to comply with the statutory audit requirement can lead to penalties and legal repercussions. It's essential for these organizations to ensure timely and accurate audit completion to maintain transparency and regulatory compliance.\\n\\nPlease note that tax and regulatory policies can change, so it's recommended to verify this information with the latest government guidelines or consult a qualified financial professional to ensure accurate and up-to-date compliance.&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:573,&quot;3&quot;:{&quot;1&quot;:0},&quot;5&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;6&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;7&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;8&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;12&quot;:0}\">Threshold Limit<\/span> of Statutory Audit<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignright wp-image-15378\" src=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/statutory-audit-shown-on-photo-260nw-2139154281.jpg\" alt=\"Threshold Limit of Statutory Audit\" width=\"182\" height=\"103\" \/><\/p>\n<p>&nbsp;<\/p>\n<p><strong>The threshold limit of statutory audit and the due date for Organizations, Charitable, and Social Service entities in India are as follows:\u00a0<\/strong><\/p>\n<h3><span class=\"ez-toc-section\" id=\"1_Threshold_Limit\"><\/span>1. Threshold Limit:<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"padding-left: 40px;\">Organizations, Charitable, and Social Service entities in India can requir to undergo a statutory audit if their total gross receipts or total income in the financial year exceed Rs. 25 lakhs.Due Date of Statutory Audit<\/p>\n<h3><span class=\"ez-toc-section\" id=\"2_Due_Date_for_Statutory_Audit\"><\/span>2. Due Date for Statutory Audit:<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"padding-left: 40px;\">The due date for the statutory audit of Organizations, Charitable, and Social Service entities in India is generally September 30th of the assessment year following the financial year.<\/p>\n<p style=\"padding-left: 40px;\">For instance, if the financial year ends on March 31, 2023, the statutory audit report would typically be due by September 30, 2023.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"3_Consequences_of_Non-Compliance\"><\/span>3. Consequences of Non-Compliance:<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"padding-left: 40px;\">Failing to comply with the statutory audit requirement can lead to penalties and legal repercussions.<\/p>\n<p style=\"padding-left: 40px;\">It&#8217;s essential for these organizations to ensure timely and accurate audit completion to maintain transparency and regulatory compliance.<\/p>\n<p>&nbsp;<\/p>\n<p>Please note that tax and regulatory policies can change, so it&#8217;s recommended to verify this information with the latest government guidelines or consult a qualified financial professional to ensure accurate and up-to-date compliance.<\/p>\n<p><strong>To visit: <a class=\"in-cell-link\" href=\"https:\/\/www.incometax.gov.in\/\" target=\"_blank\" rel=\"noopener\">https:\/\/www.incometax.gov.in<\/a><\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-13468 aligncenter\" src=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/Statutory-Audits-for-Content-Creators.jpg\" alt=\"Comparative Auditing\" width=\"259\" height=\"194\" \/><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center;\"><strong>For further details access our website: <a class=\"in-cell-link\" href=\"https:\/\/vibrantfinserv.com\/\" target=\"_blank\" rel=\"noopener\">https:\/\/vibrantfinserv.com<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Threshold Limit of Statutory Audit &nbsp; The threshold limit of statutory audit and the due date for Organizations, Charitable, and Social Service entities in India are as follows:\u00a0 1. Threshold Limit: Organizations, Charitable, and Social Service entities in India can requir to undergo a statutory audit if their total gross receipts or total income in\u2026 <span class=\"read-more\"><a href=\"https:\/\/vibrantfinserv.com\/kb\/threshold-limit-of-statutory-audit\/\">Read More &raquo;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":15378,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2459],"tags":[2587,2311,3247],"class_list":["post-15638","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-statutory-audit","tag-duedate","tag-statutoryaudit","tag-thresholdlimit"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Threshold Limit of Statutory Audit\/ Article\/ VibrantFinserv<\/title>\n<meta name=\"description\" content=\"The threshold 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