Section 65: Audit of Accounts
Where in any particular year gross turnover of a dealer exceeds twenty five lac rupees or such other amount as the Commissioner may, by notification in the Official Gazette, specify then such dealer shall get his accounts, in respect of that year, audited by an accountant with in six months from the end of that year and obtain a report of such audit in prescribed form duly signed and verified by such accountant and setting forth such particulars as may be prescribed.
A true copy of such report shall be furnished by such dealer to the assessing authority by the end of the month after the expiry of the period of six months during which the audit is required to be completed as per sub-section (1).
Explanation: For the purpose of this Section, "Accountant" means a Chartered Accountant within the meaning of the Chartered Accountant' Act 1949 and includes a person who by virtue of the provisions of sub-section (2) of Section 226 of the Companies Act, 1956, is entitled to be appointed to act as an auditor of Companies registered under the said Act.
