Bookkeeping Limit
Bookkeeping Limit in India, online content creators required to start bookkeeping when their gross receipts or turnover from their online activities exceed ₹2,50,000 in a financial year.
This limit outlined in Section 44ADA of the Income Tax Act, which one specifically designed for professionals, including digital content creators.
Once the gross receipts cross this threshold, content creators obligated to maintain accurate records of their income and expenses.
This includes keeping track of all financial transactions related to their online activities, such as earnings from advertisements, sponsorships, affiliate marketing, and any other sources of revenue.
Maintaining proper bookkeeping not only helps content creators stay compliant with tax regulations but also provides them with a clear overview of their financial health and profitability.
It’s recommend to use accounting software or tools to keep track of transactions and generate reports for tax purposes.
To visit: https://www.mca.gov.in/
For further details access our website: https://vibrantfinserv.com