Account Finalization for Motor & Truck Rental Yes, businesses that provide Account Finalization for Motor & Truck Rental Services in India. It refers to the process of preparing and presenting the final financial statements of a business for a specific period, usually at the end of the financial year. It involves the compilation and… Read More »
Balance Sheet for Dental and Medical The threshold limit of balance sheet for dental and medical reporting varies based on the type of entity and its turnover. For Dental and Medical Laboratories in India, if the turnover exceeds ₹1 crore during the financial year, they are requir to get their accounts audit under Section… Read More »
Bookkeeping Mandatory for Wholesaler Yes, bookkeeping mandatory for wholesaler in India. Bookkeeping refers to the systematic recording of financial transactions and activities of a business. For wholesalers, maintaining accurate and up-to-date books of accounts is crucial for several reasons: 1. Compliance with Legal Requirements: Wholesalers, like all businesses, required to comply with the provisions… Read More »
Key of Financial Transaction Registered Nurses in India should diligently record several key financial transaction to ensure accurate accounting and compliance with tax regulations. These transactions include: 1. Income from Employment: Registered Nurses should record their salary and any additional income earned from their nursing job. This includes base salary, allowances, overtime pay, and… Read More »
Tax Audit Required for Architects Tax Audit Required for Architects apply to professionals, including architects, under certain conditions. According to the Income Tax Act, a tax audit is mandatory for architects if their gross receipts exceed Rs 50 lakh in a financial year. This means that if an architect’s total receipts from professional services… Read More »
Tax Audit Reports for Doctors In India, a tax audit reports for doctors serves a critical purpose in ensuring transparency, accuracy, and compliance with the country’s taxation regulations. The primary goal of this audit report is to examine the financial records and transactions of doctors, specifically those who fall under the ambit of Section… Read More »
Statutory Audit for Designers Statutory audits are generally not mandatory for interior designers unless they meet certain financial thresholds or legal requirements. These audit are conducted to ensure the accuracy of financial statements and compliance with relevant laws and regulations. Interior designers, as service providers, might not typically fall under the same level of financial… Read More »
Tax Exemptions for Interior Designers Yes, there are certain Tax Exemptions available for interior designers based on their income level. One such exemption is provided under Section 44ADA of the Income Tax Act. This section is applicable to professionals, including interior designers, whose gross receipts do not exceed ₹50 lakhs in a financial year.… Read More »
Incorporation Incorporation for registering a Private Limited Company in India, you need to follow these steps: 1.Obtain Digital Signature Certificate (DSC): The first step is to obtain a Digital Signature Certificate (DSC) for the directors and shareholders of the company. This is required for filing the registration forms online. 2. Apply for Director Identification Number… Read More »
GST Compliance Dates GST Compliance Dates, the timelines for complying with Goods and Services Tax (GST) in India may differ based on the specific type of compliance and the corresponding GST returns. Here are some common compliance dates to be aware of: 1. GST Registration: The date for GST registration depends on the turnover… Read More »
