Balance Sheet for Dental and Medical
The threshold limit of balance sheet for dental and medical reporting varies based on the type of entity and its turnover.
For Dental and Medical Laboratories in India, if the turnover exceeds ₹1 crore during the financial year, they are requir to get their accounts audit under Section 44AB of the Income Tax Act.
This means that if the total sales, turnover, or gross receipts of the dental or medicals laboratory exceed ₹1 crore in a financial year, they need to have their balance sheet audited by a chartered accountant.
To visit: https://www.incometax.gov.in
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