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 is Mandatory for Chemists Statutory audit is not mandatory for chemists. It is mandatory for companies, irrespective of their nature of business and sales turnover. However, there are some cases where statutory audit required for chemists. For example, if a chemist is involve in the manufacture or sale of chemicals that regulated… 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 »
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 »
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 »
Purpose of a Statutory Audit The purpose of conducting a statutory audit for online content creators is to ensure transparency, accuracy, and compliance in their financial and tax-related activities. A statutory audit is a formal examination of financial records, statements, and transactions by an independent auditor to ascertain whether they adhere to relevant legal and… 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 »
Here’s how to assess the Statutory audit is applicable for YouTubers: 1. Revenue Threshold: Check the revenue generated from your YouTube channel. In many jurisdictions, statutory audits are triggered when the turnover surpasses a certain amount. This threshold is subject to change and can vary from one region to another. 2. Nature of… Read More »
Statutory audit is applicable for interior designers Whether or not statutory audit is applicable for interior designers depends on their gross receipts or turnover in a financial year. The Income Tax Act, 1961, under Section 44AB, states that interior designers whose gross receipts or turnover exceeds Rs. 1 crore in a financial year are required… Read More »
Statutory audit for online content creators Statutory audit for online content creators, Statutory audits requirements for online content creator largely depend on the jurisdiction and the scale of their earnings. In many cases, a statutory audits might not be require for individual content creators who earn modestly. However, if the online content creator’s earnings surpass… Read More »
