Balance sheet for textile and clothing trade Here are the purpose of a balance sheet for textile and clothing trade and stores: 1. To track the company’s assets, liabilities, and equity. A balance sheet shows what a company owns (assets), what it owes (liabilities), and the difference between the two (equity). This information can… Read More »
Penalties for Printing Services There are no specific penalties for printing services if they fail to file their ITR on time. However, the printing service may be liable for penalties if they fail to file the ITR of their clients on time. The penalties for late filing of ITR are as follows: Up to… Read More »
Balance Sheet for Printing Services The balance sheet draft for a printing services company in India will vary depending on the specific company, but it will generally include the following assets, liabilities, and equity: Assets Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Property, plant, and equipment Intangible assets Liabilities Accounts payable Accrued… Read More »
Tax Return for printing services business Sure, here is the process for filing Income Tax Return for printing services business: 1. Gather all the necessary documents, such as your PAN card, Aadhaar card, income and expense statements, and proof of investments. 2. Choose the appropriate ITR form. The type of ITR form you need… Read More »
Tax Audit for Mall Owners The threshold limit for tax audit for mall owners in India is Rs. 1 crore. This means that if the total turnover of a mall is more than Rs. 1 crore in a financial year, it is required to get its accounts audited by a chartered accountant. The due… Read More »
Penalty of Late Filing for Statutory Yes, there are penalties for late filing of Statutory Audit Penalty for Printing Services. The penalty depends on the amount of time the audit is late. If the audit is filed after the due date but within 30 days, the penalty is ₹500 per day. If the audit… Read More »
ITR filing Deadline ITR filing Deadline, The due date for filing Income Tax Returns (ITR) for the financial year 2022-23 is July 31, 2023 for most taxpayers. However, the due date for filing ITR for mall owners is different. Mall owners are considered as “businesses” under the Income Tax Act, 1961. As such, they have… Read More »
Bookkeeping for Printing Services Bookkeeping is the process of tracking and recording financial transactions of a business. It is important Bookkeeping for printing services because it helps to: Track income and expenses Identify trends in spending Manage cash flow Prepare financial statements File taxes Stay compliant with regulations In a printing business, bookkeeping can… Read More »
Balance Sheet Draft for Printing Services There are no specific limit set for the balance sheet draft in the context of printing services. However, there are certain requirements that must be met in order for the draft to be considered accurate and complete. These requirements include: The draft must include all of the assets, liabilities,… Read More »
Sales Transactions in the Bookkeeping Certainly, here’s a rephrased version of the instructions for recording sales transactions in the bookkeeping for printing services in India: Collect Required Documents: Gather essential documents such as sales invoices, cash register tapes, or credit card receipts. Identify Relevant Accounts: Recognize the pertinent accounts involved in the sales… Read More »
