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of <h1>Section 83: Audit Required for Professionals with Gross Receipts Over 10 Lakh or Business Turnover Over 40 Lakh</h1> Every individual required to maintain books of accounts under section 83 must have their accounts audited if their professional gross receipts exceed ten lakh rupees or their business turnover exceeds forty lakh rupees in a financial year. The audit must be conducted by an accountant, and the audit report should be obtained in the prescribed form before the due date. Exceptions apply for businesses where income is determined under Rule 1 of the Fourteenth Schedule. Compliance is also achieved if accounts are audited under other laws before the due date, with an additional report obtained in the prescribed form.
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