Tag Archives: #BookkeepingMandatory

Is bookkeeping mandatory and any limit for starting for the School, Colleges, Universities, Professional Schools?

Bookkeeping for construction Bookkeeping for lodging establishments

Bookkeeping is Mandatory for Schools Yes, bookkeeping is mandatory for schools, colleges, universities, and professional schools in India. Properly maintained books of accounts are essential to ensure transparency, accuracy, compliance with tax regulations. 1. Legal Requirement: The Income Tax Act of India requires educational institutions to maintain books of accounts and other documents related… Read More »

Is bookkeeping mandatory and any limit for starting for the hospitals?

Bookkeeping for Hospitals Yes, bookkeeping is mandatory for hospitals in India. Bookkeeping involves maintaining accurate and organized financial records of all transactions and activities related to the hospital’s finances. This includes income, expenses, purchases, sales, payroll, and other financial transactions. Proper bookkeeping ensures transparency, accountability, and helps in making informed financial decisions. There is… Read More »

Is bookkeeping mandatory and any limit for starting for the Dental and Medical Laboratories?

Bookkeeping mandatory for Dental Yes, bookkeeping is mandatory for Dental and Medical Laboratories in India. Bookkeeping involves maintaining accurate and organized financial records of the business transactions, which is crucial for ensuring transparency, accountability, and compliance with taxation and regulatory requirements. Proper bookkeeping helps in tracking income, expenses, assets, and liabilities associated with the… Read More »