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 »
Tax Deduction for Media House Tax Deduction for Media House, Absolutely, here are several tax deduction for media house when filing their income tax returns: 1. Section 80C: This provision permits a deduction of up to Rs. 1,50,000 for investments in qualifying schemes like life insurance premiums, ELSS, PPF, etc. 2. Section 80D: This rule… Read More »
Agency Balance Sheet Requirement Agency Balance Sheet Requirement, The requirement for drafting a it is not always obligatory for manpower and employment agencies. The answer depends on the specific laws and regulations of the country or state in which the agency is located. In the United States, for example, there is no federal law… Read More »
Reporting Thresholds Reporting Thresholds, There are no predefined thresholds for the finalization of accounts applicable to Media Houses operating in India. The Income Tax Department (ITD) has not established specific rules or regulations that pertain exclusively to the finalization of accounts for media houses. However, if the ITD suspects non-compliance with tax regulations, they reserve… Read More »
Finalizing of account for printing services As the end of the quarter approaches, businesses often find themselves racing against the clock to finalize accounts and meet deadlines. If your company relies on printing services, it’s crucial to know when the deadline for finalizing your account falls, ensuring smooth operations and timely delivery of services. Understanding… Read More »
Manpower Agency Transactions Manpower Agency Transactions, Yes here are the key financial transactions that a manpower & employment agency should record in bookkeeping: 1. Revenue from placement fees: This is the main source of income for a manpower agency. It should be recorded when the placement fee is received, regardless of whether the… Read More »
Tax Audit Report for Automobile Tax Audit Report for Automobile dealers stands at Rs. 10 crore, provided that cash transactions remain below 5% of the total transactions. This means that if an automobile dealer’s total turnover during a financial year is Rs. 10 crore or more, and if the cash receipts and cash payments do… Read More »
