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?

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?

1 answer

Ravi Staff September 17, 2018

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) 

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