Audit Date of Parlor and Spas

Audit Date of Parlor and Spas, the threshold limit for statutory audit deadline for spas and parlors services is ₹ 1 crore in terms of annual turnover.

This means that if the annual turnover of a spa or parlor is more than ₹ 1 crore, it is required to get its accounts audited by a chartered accountant.

The audit report must be submitted to the concerned authorities within 30th September of the following year.

Here are some other points to keep in mind about statutory audit for spas and parlor services:

1. The audit must be conducted by a chartered accountant who is registered with the Institute of Chartered Accountants of India (ICAI).

2. The auditor must be independent of the spa or parlor.

3. The audit report must be prepared in accordance with the Generally Accepted Accounting Principles (GAAP).

4. The audit report must be submitted to the spa or parlor within 30th September of the following year.

To visit: https://www.mca.gov.in/

For further details access our website: https://vibrantfinserv.com