Due Date of Statutory Audit The Due Date of Statutory Audit, for Printing Services depends on the legal requirements of the country or state in which the company is located. In the United States, for example, the due date is 15 months after the end of the company’s fiscal year. However, there are some… Read More »
Potential Consequences Sure, here are the Potential Consequences of a delayed filing for the statutory audit pertaining to automobile dealers: 1. Penalty: The penalty for delayed filing of the statutory audit report is ₹10,000 to ₹1,00,000 for each defaulting officer. 2. Loss of credibility: A delayed filing of the statutory audit report can damage… Read More »
Audit for EmploymentAgency Audit for EmploymentAgency, The threshold limit of statutory audit due date for manpower and employment agencies is ₹ 1 crore. This means that all manpower and employment agencies whose annual turnover is more than ₹ 1 crore required to get their accounts audit by a chartered accountant. The due date for… Read More »
Manpower and Employment Agencies Sure, here are some of the potential consequences of a delayed filing for the statutory audit pertaining to Manpower and Employment Agencies: 1. The agency may be subject to fines or penalties. 2. The agency may be barred from receiving government contracts. 3. The agency may lose the confidence of… Read More »
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… Read More »
Audit Delay Ramifications Audit Delay Ramifications sure, here are the potential consequences of a delayed filing for the statutory audit pertaining to Spas & Parlor Services: 1. Penalty: As mentioned in my knowledge, the penalty for non-compliance with the statutory audit is ₹10,000 to ₹1,00,000. 2. Loss of credibility: A delayed filing can damage… Read More »
Statutory Audit Pertaining to Media House Here are some of the potential consequences of a delayed filing for the statutory audit pertaining to Media House: 1. Penalty: The Income Tax Act, 1961 (ITA) imposes a penalty of 0.5% of the total sales, turnover or gross receipts, whichever is higher, or Rs. 1,50,000, whichever is less,… Read More »
Threshold Limit of Statutory Audit Sure, The threshold limit of statutory audit for a diagnostic centre is Rs. 40 lakhs in terms of turnover or Rs. 25 lakhs in terms of gross receipts in a financial year. If the turnover or gross receipts of a diagnostic centre exceeds the threshold limit, then it is… Read More »
Statutory Audit Threshold for Automobile The statutory audit threshold for automobile dealers stands at Rs. 2 crore in a financial year. This means that if the turnover of an automobile dealer exceeds Rs. 2 crore in a financial year, then they are required to get their accounts audited by a chartered accountant or a cost… Read More »
Diagnostic Centre Audit Penalties Diagnostic Centre Audit Penalties, here are the potential consequences of a delayed filing for the statutory audit pertaining to a diagnostic centre: 1. Penalty: The diagnostic centre could be liable to pay a penalty of 0.5% of its total sales, turnover, or gross receipts for each month of delay, up… Read More »