Threshold limit
There is no threshold limit of balance sheet for Manpower & Employment Agencies in India. The Companies Act, 2013 does not specify any such limit for this type of company.
However, there are other regulations that may apply, such as the Micro, Small and Medium Enterprises (MSME) Act, 2006. Under this Act, a Manpower & Employment Agency with a turnover of less than Rs. 250 crore is classified as a small enterprise.
This means that it is not required to prepare a balance sheet if its turnover is less than this amount.
However, even if a Manpower & Employment Agency is not required to prepare a balance sheet, it is still a good practice to do so.
This will help the company to track its financial health and make informed decisions about its business.
Additionally, a balance sheet can be required by lenders or investors when the company is seeking financing.
Here are some of the benefits of preparing a balance sheet for a Manpower & Employment Agency:
1. It can help the company to track its financial health and identify any areas of concern.
2. It can be used to make informed decisions about the company’s business, such as how much money to invest in marketing or how much debt to take on.
3. It can be required by lenders or investors when the company is seeking financing.
4. It can be used to attract and retain customers by demonstrating the company’s financial stability.
To visit: https://www.incometax.gov.in