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 »
Are Doctors Subject to Tax Audits Are Doctors subject to tax audits:- Yes, doctors in India can be subject to tax audits under certain circumstances. Tax audits are conduct to ensure that taxpayers are accurately reporting their income, deductions, and other financial transactions. For doctors, the threshold for mandatory tax audit is applicable if their… Read More »
Statutory Audit for Registered Nurses Determining whether a statutory audit for Registered Nurses it is applicable, involves considering various factors related to their financial activities and professional status. Here’s a breakdown of the process: 1. Nature of Income and Earnings: The first step is to evaluate the nature of income and earnings of Registered… Read More »
Turnover Limit for Drafting Balance Sheet There is no turnover limit for drafting a balance sheet for Registered Nurses (RNs) in India. However, if an RN’s turnover or gross receipts is Rs. 1.5 crore or more in the previous financial year, they are required to get a statutory audit done. The statutory audit report must… Read More »
Statutory Audit is Applicable for Editors To determine whether a statutory audit is applicable for editors, several factors need to be considered. A statutory audit is typically required for businesses that meet certain financial thresholds or legal requirements. Here’s how to assess whether an editor needs a statutory audit: 1. Annual Revenue: Editors should… Read More »
Statutory Audit for Tour and Travel Agencies The core objective of a Statutory Audit for Tour and Travel Agencies is to verify and establish the precision and dependability of the financial statements presented by tour and travel agencies. It verifies that the financial data presented, such as revenue, expenses, and profits, is consistent and… Read More »
Balance Sheet for the Physiotherapist There is no turnover limit for drafting a balance sheet for the physiotherapist. However, if the physiotherapist’s turnover exceeds Rs. 2 crores, they are required to get their accounts audited by a qualified auditor. The auditor will prepare a balance sheet as part of the audit process. If the… Read More »
Statutory Audit for a Physiotherapist The applicability of statutory audit for a physiotherapist depends on the following factors: 1. Turnover: If the physiotherapist’s turnover exceeds Rs. 2 crores, they are required to get a statutory audit. 2. Nature of business: If the physiotherapist is a director or partner in a company that required to… Read More »
Tax Audit Report for Physiotherapist The purpose of a tax audit report for a physiotherapist is to verify the accuracy of the physiotherapist’s financial records and to ensure that they have complied with the Income Tax Act. The tax audit report is prepared by a qualified auditor and is submitted to the tax authorities… Read More »
Statutory Audit Applicable for Online Content Creators Determining whether a statutory audit is applicable for online content creators involves considering specific criteria and financial thresholds. Here’s how to assess the situation: 1. Revenue Threshold: The primary factor in deciding if a content creator audit is needed is the revenue generated by the online content… Read More »
