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The Economic Times

Business / The Economic Times

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India mulls exempting micro firms under 1 crore from statutory audits

The government is deliberating on a new proposal aimed at relieving small enterprises from the requirement of undergoing mandatory audits. This initiative is designed to facilitate compliance, yet it raises alarms regarding potential fraudulent activities and insufficient regulatory supervision. Many stakeholders are anxious that it might result in a rise in the creation of shell companies.

19 Mar 2026 12:05 am