Balance Sheet of Physiotherapist Here are some important points to consider before drafting a balance sheet for a physiotherapist: 1. The assets and liabilities of the physiotherapist: The balance sheet should list all of the assets and liabilities of the physiotherapist. Assets are things that the physiotherapist owns, such as cash, equipment, and accounts… 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 »
E-Filing ITR for a Physiotherapist The process of e-filing Income Tax Returns (ITR) for a physiotherapist involves several steps to ensure accurate reporting of income and deductions. Here’s a breakdown of the process: 1. Gather Relevant Documents: Collect all necessary documents, such as Form 16 (if employed), receipts of professional fees earned, bank statements,… Read More »
ITR for Physiotherapists Here’s what physiotherapists should maintain: 1. Income Records: Physiotherapists should keep records of all sources of income, such as fees received from clients, consultations, workshops, or any other professional services. This can include payment receipts, invoices, bank statements showing deposits, and digital transaction records. 2. Expense Records: Physiotherapists can claim… Read More »
Statutory audit for physiotherapists No, statutory audit is not required for physiotherapists. It is only required for companies, limited liability partnerships, and other entities that register under the Companies Act, 2013. Individuals, including physiotherapists, do not require to get audit. To visit: https://www.incometax.gov.in However, there are some cases where a physiotherapist may require to get… Read More »
