Bookkeeping for Fashion Designers According to the Income Tax Act, 1961, bookkeeping for fashion designers it is not mandatory of account if their turnover does not exceed 1,20,000 in any of the three preceding years. However, it is still advisable for fashion designers to maintain books of account even if they are not required… Read More »
Statutory Audit for Fashion Designers Ensuring a prosperous statutory audit for fashion designers necessitates meticulous readiness and strict adherence to pertinent financial statutes. Here’s a comprehensive step-by-step manual to assist you on this journey: 1. Engage a Qualified Auditor: Start by selecting a reputable and experienced auditor who specializes in the fashion or creative… Read More »
ITR Filing for Fashion Designers ITR filing for Fashion designers typically need to file their income tax returns using Form ITR-4 (Sugam) if they are running their design business as a sole proprietorship or as a partnership firm. Form ITR-4 is meant for individuals and Hindu Undivided Families (HUFs) who have opted for the presumptive… Read More »