Media Account Finalization Here are some steps on how to do media account finalization: 1. Gather all financial records: This includes all income statements, balance sheets, cash flow statements, and other relevant documents. 2. Reconcile all accounts: This means ensuring that the balances in the books of accounts match the actual balances in the… Read More »
Tax Deductions for Spas and Parlor Tax Deductions for Spas and Parlor, here a rundown of potential tax deductions for spas and parlor services when filing their income tax returns: 1. Equipment and Furnishings Costs: You’re eligible to deduct the expenses incurred in acquiring essential furniture and equipment for your business, encompassing massage tables,… Read More »
Financial Report Financial Report, Whether a media house is obligated to draft a balance sheet depends on the legal regulations of the country it operates in. In countries like India, all companies, including media houses, must create a balance sheet as an integral component of their yearly financial reports. This requirement is also mirrored… Read More »
Account Finalization for Manpower Here are the steps on how to do account finalization in a manpower and employment agency: 1. Prepare a trial balance: This is a list of all the accounts in the ledger, with their debit and credit balances. 2. Make adjustments to the trial balance: This may include correcting errors,… Read More »
Media Tax Compliance Here are some media tax compliance should follow to avoid tax audit issues: 1. File tax returns on time and accurately: This is the most important thing you can do to avoid an audit. The IRS is more likely to audit taxpayers who file their returns late or who make mistakes.… Read More »
Threshold limit There is no threshold limit of balance sheet for Manpower & Employment Agencies in India. The Companies Act, 2013 does not specify any such limit for this type of company. However, there are other regulations that may apply, such as the Micro, Small and Medium Enterprises (MSME) Act, 2006. Under this Act, a… Read More »
Printing services Yes, here are some of the key expense categories in bookkeeping for printing services: 1. Paper: This includes the cost of all types of paper used in printing, such as copy paper, cardstock, and specialty paper. 2. Ink: This includes the cost of all types of ink used in printing, such as… Read More »
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… Read More »
Threshold And Deadline for Tax Audit Threshold And Deadline for Tax Audit, The threshold limit for tax audit for Manpower & Employment Agencies in India is Rs. 10 crore for the financial year 2023-24, if the cash transactions do not exceed 5% of the total transactions. This is an increase from the previous threshold limit… Read More »
Manpower Tax Solutions Manpower Tax Solutions, here are some compliance measures that manpower and employment agencies should follow to avoid tax audit issues: 1. Register with the appropriate government agencies: Manpower and employment agencies are required to register with the appropriate government agencies, such as the Department of Labor and Employment (DOLE) and the Bureau… Read More »