Media House Audit Dates
Media House Audit Dates, The threshold limit of statutory audit due date for a media house is NIL.
This means that all media houses, regardless of their turnover or gross receipts, are requir to have their accounts audit by a qualify auditor.
The due date for submitting the audit accounts to the Registrar of Companies (ROC) is 30th September of the following year.
The Companies Act, 2013 does not specifically mention media houses as a class of companies that are require to have their accounts audit.
However, the Act does state that all companies “whose annual turnover exceeds fifty lakh rupees,
or whose paid-up capital exceeds five lakh rupees” are require to have their accounts audit.
Since media houses typically have a turnover and paid-up capital that exceeds these limits, they are automatically cover by the media house audit dates requirement.
There are a few exceptions to the statutory audit requirement for media houses.
For example, a media house that is a small company (with a turnover of less than ₹ 25 lakhs and a paid-up capital of less than ₹ 5 lakhs) is not require to have its accounts audit.
Additionally, a media house that is a one-person company is also not require to have its accounts audit.
For more information visit this site: https://www.incometax.gov.in
However, even if a media house audit dates is not require to have its accounts audit by law,
It may still be advisable to do so.
A statutory audit can help to ensure that the company’s accounts are accurate.
And that they are prepared in accordance with the applicable accounting standards.
Additionally, a statutory audit can help to identify any potential financial irregularities or fraud.
If you are the owner or manager of a media house, you should consult with a qualified accountant to determine,
whether your company is require to have its accounts audit
For further details access our website: https://vibrantfinserv.com