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Questions › Category: CA-Final EDP › Disqualification of an auditor when he purchase goods on credit,Sir my query is about ceiling limit of indebtedness.Whether auditor is disqualified if he purchase goods on credit of Rs.499999?
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Sachin ranganath Pethakarsachin ranganath Pethakar asked 6 years ago

Disqualification of an auditor when he purchase goods on credit,Sir my query is about ceiling limit of indebtedness.Whether auditor is disqualified if he purchase goods on credit of Rs.499999?

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RaviRavi Staff answered 6 years ago

disqualification gets applicable if indebtedness exceeds 5 lakhs
so indebtedness upto 5 lakhs is absolutely fine (limit is for  all taken together — ca + relatives + partners)