{"id":850,"date":"2026-08-06T23:45:29","date_gmt":"2026-08-06T18:15:29","guid":{"rendered":"https:\/\/www.taxaj.com/learn\/turnover-limit-for-statutory-audit-in-india\/"},"modified":"2026-08-14T11:09:49","modified_gmt":"2026-08-14T05:39:49","slug":"turnover-limit-for-statutory-audit-in-india","status":"publish","type":"post","link":"https:\/\/www.taxaj.com/learn\/turnover-limit-for-statutory-audit-in-india\/","title":{"rendered":"Turnover Limit for Statutory Audit in India \u2014 Company, LLP & Firm"},"content":{"rendered":"

“What is the turnover limit for a statutory audit?” is one of the most confused questions in Indian compliance, because the answer depends on the type of entity<\/strong> \u2014 and it’s different from the tax audit<\/strong> limit. This guide clears it up. (Thresholds can change \u2014 confirm the current limits.)<\/p>\n

Companies \u2014 statutory audit applies to ALL, with no turnover limit<\/h2>\n

Every company<\/strong> registered under the Companies Act 2013 \u2014 private limited, public, OPC, Section 8 \u2014 must get its accounts statutorily audited by a Chartered Accountant every year<\/strong>, regardless of turnover or profit. There is no minimum turnover<\/strong> below which a company is exempt from statutory audit.<\/p>\n

LLPs \u2014 audit above a threshold<\/h2>\n

A Limited Liability Partnership<\/strong> must get a statutory audit if its turnover exceeds \u20b940 lakh<\/strong> in a financial year or<\/strong> its capital contribution exceeds \u20b925 lakh<\/strong>. Below both limits, an LLP audit is not mandatory (though a tax audit may still apply).<\/p>\n

Proprietorships & partnership firms \u2014 no statutory audit, only tax audit<\/h2>\n

An ordinary proprietorship or partnership firm has no statutory audit<\/strong> requirement merely for existing. They may, however, require a tax audit<\/strong> under Section 44AB.<\/p>\n

Tax audit (Section 44AB) \u2014 a separate concept<\/h2>\n