{"id":16855,"date":"2023-08-30T07:39:01","date_gmt":"2023-08-30T07:39:01","guid":{"rendered":"https:\/\/vibrantfinserv.com\/kb\/?p=16855"},"modified":"2024-05-09T09:08:39","modified_gmt":"2024-05-09T09:08:39","slug":"statutory-audit-for-furniture-and-appliances","status":"publish","type":"post","link":"https:\/\/vibrantfinserv.com\/kb\/statutory-audit-for-furniture-and-appliances\/","title":{"rendered":"What is the threshold limit of Statutory audit due date for Furniture &#038; Appliances: Trader &#038; Stores?"},"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\/statutory-audit-for-furniture-and-appliances\/#i\" >Statutory audit for Furniture and Appliances<\/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\/statutory-audit-for-furniture-and-appliances\/#Outlined_below_are_some_suggestions_for_identifying_a_proficient_chartered_accountant\" >Outlined below are some suggestions for identifying a proficient chartered accountant:<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"i\"><\/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=\"89\" height=\"43\" 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: 89px) 100vw, 89px\" \/><span style=\"color: #000000;\" data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Certainly. The prescribed deadline for the statutory audit due date pertaining to Furniture &amp; Appliances: Traders &amp; Stores is \u20b91 crore. This signifies that Furniture and Appliances Traders or Stores, generating an annual turnover exceeding \u20b91 crore, are obligated to undergo an audit of their accounts conducted by a certified chartered accountant. The audit report must be duly submitted to the Registrar of Companies (ROC) within 30 days subsequent to the conclusion of the financial year.\\r\\n\\r\\nThe following are additional enterprises that are also compelled to have their accounts audited if their yearly turnover surpasses \u20b91 crore:\\r\\n\\r\\nBanking companies\\r\\nInsurance companies\\r\\nNon-banking financial companies (NBFCs)\\r\\nCompanies listed on a stock exchange\\r\\nCompanies involved in the production or sale of goods or services subject to excise duty\\r\\nCompanies engaged in the generation or distribution of electricity\\r\\nFor those operating as Furniture and Appliances Traders or Stores with an annual turnover surpassing \u20b91 crore, it is imperative to promptly initiate the search for a qualified chartered accountant to carry out the audit of your accounts. As the audit procedure could extend over several months, early commencement is of paramount importance.\\r\\n\\r\\nOutlined below are some suggestions for identifying a proficient chartered accountant:\\r\\n\\r\\nSeek recommendations from friends, family, or colleagues.\\r\\nObtain quotations from multiple accountants to compare.\\r\\nVerify the qualifications and experience of the accountant in auditing businesses dealing with furniture and appliances.\\r\\nEnsure that all aspects, including the audit's scope, fees, and timeline, are documented comprehensively.&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}\">Statutory audit for Furniture and Appliances<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h2 style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-13468 size-full alignright\" src=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/Statutory-Audits-for-Content-Creators.jpg\" alt=\"Statutory audit for Furniture and Appliances\" width=\"259\" height=\"194\" \/><\/h2>\n<p>&nbsp;<\/p>\n<p><span style=\"color: #000000;\" data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Certainly. The prescribed deadline for the statutory audit due date pertaining to Furniture &amp; Appliances: Traders &amp; Stores is \u20b91 crore. This signifies that Furniture and Appliances Traders or Stores, generating an annual turnover exceeding \u20b91 crore, are obligated to undergo an audit of their accounts conducted by a certified chartered accountant. The audit report must be duly submitted to the Registrar of Companies (ROC) within 30 days subsequent to the conclusion of the financial year.\\r\\n\\r\\nThe following are additional enterprises that are also compelled to have their accounts audited if their yearly turnover surpasses \u20b91 crore:\\r\\n\\r\\nBanking companies\\r\\nInsurance companies\\r\\nNon-banking financial companies (NBFCs)\\r\\nCompanies listed on a stock exchange\\r\\nCompanies involved in the production or sale of goods or services subject to excise duty\\r\\nCompanies engaged in the generation or distribution of electricity\\r\\nFor those operating as Furniture and Appliances Traders or Stores with an annual turnover surpassing \u20b91 crore, it is imperative to promptly initiate the search for a qualified chartered accountant to carry out the audit of your accounts. As the audit procedure could extend over several months, early commencement is of paramount importance.\\r\\n\\r\\nOutlined below are some suggestions for identifying a proficient chartered accountant:\\r\\n\\r\\nSeek recommendations from friends, family, or colleagues.\\r\\nObtain quotations from multiple accountants to compare.\\r\\nVerify the qualifications and experience of the accountant in auditing businesses dealing with furniture and appliances.\\r\\nEnsure that all aspects, including the audit's scope, fees, and timeline, are documented comprehensively.&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}\">The prescribed deadline of due date for the Statutory audit for Furniture and Appliances of Traders &amp; Stores is \u20b91 crore. This signifies that Furniture and Appliances Traders or Stores, generating an annual turnover exceeding \u20b91 crore, are obligate to undergo an audit of their accounts conducted by a certified chartered accountant. The audit report must be duly submit to the Registrar of Companies (ROC) within 30 days subsequent to the conclusion of the financial year.<\/span><\/p>\n<p><strong><span style=\"color: #000000;\">To visit:<\/span> <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><span style=\"color: #000000;\"><strong>The following are additional enterprises that are also compelled to have their accounts audited if their yearly turnover surpasses \u20b91 crore:<\/strong><\/span><\/p>\n<ul>\n<li><span style=\"color: #000000;\">Banking companies<\/span><\/li>\n<li><span style=\"color: #000000;\">Insurance companies<\/span><\/li>\n<li><span style=\"color: #000000;\">Non-banking financial companies (NBFCs)<\/span><\/li>\n<li><span style=\"color: #000000;\">Companies listed on a stock exchange<\/span><\/li>\n<li><span style=\"color: #000000;\">Companies involved in the production or sale of goods or services subject to excise duty<\/span><\/li>\n<li><span style=\"color: #000000;\">Companies engaged in the generation or distribution of electricity<\/span><\/li>\n<li><span style=\"color: #000000;\">For those operating as Furniture and Appliances Traders or Stores with an annual turnover surpassing \u20b91 crore, it is imperative to<\/span><\/li>\n<li><span style=\"color: #000000;\">promptly initiate the search for a qualified chartered accountant to carry out the audit of your accounts. As the audit procedure could extend over several months, early commencement is of paramount importance.<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Outlined_below_are_some_suggestions_for_identifying_a_proficient_chartered_accountant\"><\/span><span style=\"color: #000000;\"><strong>Outlined below are some suggestions for identifying a proficient chartered accountant:<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"color: #000000;\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-15437 alignright\" src=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/Statutory-Audit-for-Artists-300x250.jpg\" alt=\"\" width=\"194\" height=\"162\" srcset=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/Statutory-Audit-for-Artists-300x250.jpg 300w, https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/Statutory-Audit-for-Artists-660x550.jpg 660w, https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/Statutory-Audit-for-Artists.jpg 759w\" sizes=\"auto, (max-width: 194px) 100vw, 194px\" \/><\/span><\/p>\n<ul>\n<li><span style=\"color: #000000;\">Seek recommendations from friends, family, or colleagues.<\/span><\/li>\n<li><span style=\"color: #000000;\">Obtain quotations from multiple accountants to compare.<\/span><\/li>\n<li><span style=\"color: #000000;\">Verify the qualifications and experience of the accountant in auditing businesses dealing with furniture and appliances.<\/span><\/li>\n<li><span style=\"color: #000000;\">Ensure that all aspects, including the audit&#8217;s scope, fees, and timeline, are documented comprehensively.<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center;\"><strong><span style=\"color: #000000;\">For further details access our website:<\/span> <a class=\"in-cell-link\" href=\"https:\/\/vibrantfinserv.com\/\" target=\"_blank\" rel=\"noopener\">https:\/\/vibrantfinserv.com<br \/>\n<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Statutory audit for Furniture and Appliances &nbsp; The prescribed deadline of due date for the Statutory audit for Furniture and Appliances of Traders &amp; Stores is \u20b91 crore. This signifies that Furniture and Appliances Traders or Stores, generating an annual turnover exceeding \u20b91 crore, are obligate to undergo an audit of their accounts conducted by\u2026 <span class=\"read-more\"><a href=\"https:\/\/vibrantfinserv.com\/kb\/statutory-audit-for-furniture-and-appliances\/\">Read More &raquo;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":13468,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2459],"tags":[2873,3615,3614],"class_list":["post-16855","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-statutory-audit","tag-auditthresholds","tag-furnitureapplianceaudit","tag-statutoryauditdates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Statutory audit for Furniture and Appliances\/ Article\/ VibrantFinserv-<\/title>\n<meta name=\"description\" content=\"The prescribed deadline of due date for the Statutory audit for Furniture and Appliances of Traders &amp; Stores is \u20b91 crore. 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