Applicable ITR Form for Architect The Applicable ITR Form for Architect generally relies on the specific characteristics of their earnings and the manner in which their business structured. Architects can have income from various sources such as professional fees, consultancy services, and potentially rental income or capital gains if they have property investments. The… Read More »
ITR Filling Documents for Architect ITR Filling Documents for Architect in India, you’ll need several documents to file your Income Tax Return (ITR). These documents are crucial for accurately reporting your income and claiming deductions. Here are the list of documents you’ll need: 1. Form 16: This is provided by your employer and shows… Read More »
Statutory Audit Required for Architects Yes, statutory audit requir for architects in India under certain circumstances. According to the Companies Act, 2013, any business or profession that falls under the category of a company. Whether this is a Pvt Ltd, public limited, or one-person company, required to undergo a statutory audit. This includes architectural firms… Read More »
Architectural Practice The suitable Income Tax Return (ITR) form for an Architectural Practice generally relies on the specific characteristics of their earnings and the manner in which their business is structured. Here’s how you can handle asset depreciation: 1. Understand Depreciation Methods: Familiarize yourself with different depreciation methods, such as straight-line depreciation, declining balance… Read More »
Architects Need to Pay Advance Tax Architects Need to Pay Advance Tax Yes, architects in India are required to pay Advance Tax if their estimated tax liability for the financial year exceeds Rs 10,000. Advance Tax is a system through which taxpayers are required to pay their income tax liabilities in installments during the financial… Read More »