Statutory Audit for Mall Owners The threshold limit for statutory audit for mall owners in India is Rs. 2 crores. This means that if the total turnover of a mall is more than Rs. 2 crores in a financial year, it is required to get its accounts audited by a chartered accountant. The due date… Read More »
Statutory Audit for Freelancers The threshold limit and due date for statutory audit are important considerations for freelancers in India. In India, freelancers determine their eligibility for statutory audit based on their annual turnover. Under the provisions of the Income Tax Act, freelancers must undergo a statutory audit if their annual turnover exceeds Rs. 1… Read More »
Statutory Audit for automotive repair The threshold limit for statutory audit for automotive repair services in India is Rs. 1 crore. This means that businesses with an annual turnover of more than Rs. 1 crore are required to have their books audited by a chartered accountant. The statutory audit is a mandatory requirement for… Read More »
TaxAuditReport for MotorTruck In India, the threshold limit and due date of TaxAuditReport for MotorTruck Rental Services are important considerations. Threshold Limit: The threshold limit for tax audit under Section 44AB of the Income Tax Act, 1961, for businesses providing Motor & Truck Rental Services is applicable when the gross receipts or turnover from… Read More »
Threshold Limit of Statutory Audit The threshold limit of statutory audit and the due date for Organizations, Charitable, and Social Service entities in India are as follows: 1. Threshold Limit: Organizations, Charitable, and Social Service entities in India can requir to undergo a statutory audit if their total gross receipts or total income in… Read More »
Statutory audit dedline for School The threshold limit for statutory audit dedline for School different entities in India, including schools, colleges, universities and professional schools. If an entity’s total gross receipts or turnover exceeds ₹1 crore in a financial year, they required to undergo a statutory audit. This means that if a school, college,… Read More »
Threshold Limit of Statutory Audit for Dental The threshold limit of statutory audit for dental and medical laboratories is Rs. 1 crore in India. This means that dental and medical laboratories with a turnover of less than Rs. 1 crore are not required to have their accounts audited. However, they are still required to… Read More »
Threshold Limit of Balance Sheet Threshold Limit of Balance Sheet in India, businesses engaged in the Motion Picture & Video Studios & Theatres industry are required to prepare a balance sheet and maintain proper financial records. However, there isn’t a specific threshold limit mention in the context of this industry for preparing a balance… Read More »
The Threshold Limit of Statutory Audit The threshold limit of Statutory audit due date for Hospitals in India is Rs. 5 crores. This means that all hospitals with an annual turnover of more than Rs. 5 crores are required to have their books audited by a chartered accountant. Statutory audit due date for hospitals… Read More »
Set off in GST Set off in GST refers to the process of adjusting the tax liability of a registered person by utilizing the input tax credit (ITC) available to them. Input tax credit is the credit that a registered person can claim for the GST paid on their purchases, which can set off… Read More »