{"id":12764,"date":"2023-08-22T04:50:38","date_gmt":"2023-08-22T04:50:38","guid":{"rendered":"https:\/\/vibrantfinserv.com\/kb\/?p=12764"},"modified":"2024-05-20T10:49:10","modified_gmt":"2024-05-20T10:49:10","slug":"statutory-audit-for-a-physiotherapist","status":"publish","type":"post","link":"https:\/\/vibrantfinserv.com\/kb\/statutory-audit-for-a-physiotherapist\/","title":{"rendered":"How to eherapist onsure that Statutory audit is applicable for the physiatry not?"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-18 alignleft\" src=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/05\/Logo-Vibrant-FinServ-300x143.png\" alt=\"\" width=\"96\" height=\"46\" srcset=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/05\/Logo-Vibrant-FinServ-300x143.png 300w, https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/05\/Logo-Vibrant-FinServ.png 482w\" sizes=\"auto, (max-width: 96px) 100vw, 96px\" \/><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_79 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/vibrantfinserv.com\/kb\/statutory-audit-for-a-physiotherapist\/#Statutory_Audit_for_a_Physiotherapist\" >Statutory Audit for a Physiotherapist<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/vibrantfinserv.com\/kb\/statutory-audit-for-a-physiotherapist\/#1_Turnover\" >1. Turnover:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/vibrantfinserv.com\/kb\/statutory-audit-for-a-physiotherapist\/#2_Nature_of_business\" >2. Nature of business:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/vibrantfinserv.com\/kb\/statutory-audit-for-a-physiotherapist\/#3_Voluntary_audit\" >3. Voluntary audit:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/vibrantfinserv.com\/kb\/statutory-audit-for-a-physiotherapist\/#1_The_Companies_Act_2013\" >1. The Companies Act, 2013:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/vibrantfinserv.com\/kb\/statutory-audit-for-a-physiotherapist\/#2_The_Income_Tax_Act_1961\" >2. The Income Tax Act, 1961:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/vibrantfinserv.com\/kb\/statutory-audit-for-a-physiotherapist\/#3_The_Chartered_Accountants_Act_1949\" >3. The Chartered Accountants Act, 1949:<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"Statutory_Audit_for_a_Physiotherapist\"><\/span><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;\\&quot;The applicability of statutory audit for a physiotherapist depends on the following factors:\\r\\n\\r\\n1. Turnover: If the physiotherapist's turnover exceeds Rs. 2 crores, they are required to get a statutory audit.\\n\\r\\n2. Nature of business: If the physiotherapist is a director or partner in a company that is required to get a statutory audit, they are also required to get a statutory audit.\\n\\r\\n3. Voluntary audit: Physiotherapists can also choose to get a statutory audit voluntarily, even if they are not required to do so. This can be useful for physiotherapists who want to demonstrate their financial transparency to their clients or investors.\\n\\r\\nTo ensure that statutory audit is applicable for a physiotherapist, they can refer to the following sources:\\r\\n\\r\\n1. The Companies Act, 2013: The Companies Act, 2013 specifies the criteria for determining whether a company is required to get a statutory audit.\\r\\n2. The Income Tax Act, 1961: The Income Tax Act, 1961 specifies the criteria for determining whether an individual is required to get a statutory audit.\\r\\n3. The Chartered Accountants Act, 1949: The Chartered Accountants Act, 1949 specifies the qualifications and registration requirements for chartered accountants who can conduct statutory audits.\\n\\r\\nIf a physiotherapist is unsure whether they are required to get a statutory audit, they should consult with a tax advisor or a chartered accountant.\\&quot;&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:573,&quot;3&quot;:{&quot;1&quot;:0},&quot;5&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;6&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;7&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;8&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;12&quot;:0}\">Statutory Audit for a Physiotherapist<img loading=\"lazy\" decoding=\"async\" class=\"alignright wp-image-13382\" src=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/Tax-audit-report-for-interior-designers-300x157.jpg\" alt=\"Statutory Audit for a Physiotherapist\" width=\"203\" height=\"106\" srcset=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/Tax-audit-report-for-interior-designers-300x157.jpg 300w, https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/Tax-audit-report-for-interior-designers-1024x536.jpg 1024w, https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/Tax-audit-report-for-interior-designers-768x402.jpg 768w, https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/Tax-audit-report-for-interior-designers-660x345.jpg 660w, https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/Tax-audit-report-for-interior-designers-380x200.jpg 380w, https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/Tax-audit-report-for-interior-designers.jpg 1200w\" sizes=\"auto, (max-width: 203px) 100vw, 203px\" \/> <\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>&nbsp;<\/p>\n<p><strong>The applicability of statutory audit for a physiotherapist depends on the following factors:<\/strong><\/p>\n<h3><span class=\"ez-toc-section\" id=\"1_Turnover\"><\/span>1. Turnover:<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"padding-left: 40px;\">If the physiotherapist&#8217;s turnover exceeds Rs. 2 crores, they are required to get a statutory audit.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"2_Nature_of_business\"><\/span>2. Nature of business:<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"padding-left: 40px;\">If the physiotherapist is a director or partner in a company that required to get a statutory audit, they are also requir to get a statutory audit.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"3_Voluntary_audit\"><\/span>3. Voluntary audit:<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"padding-left: 40px;\">Physiotherapists can also choose to get a statutory audit voluntarily, even if they are not requir to do so.<\/p>\n<p style=\"padding-left: 40px;\">This can be useful for physiotherapists who want to demonstrate their financial transparency to their clients or investors.<\/p>\n<p><strong>To ensure that statutory audit is applicable for a physiotherapists, they can refer to the following sources:<\/strong><\/p>\n<h3><span class=\"ez-toc-section\" id=\"1_The_Companies_Act_2013\"><\/span>1. The Companies Act, 2013:<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"padding-left: 40px;\">The Companies Act, 2013 specifies the criteria for determining whether a company required to get a statutory audit.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"2_The_Income_Tax_Act_1961\"><\/span>2. The Income Tax Act, 1961:<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"padding-left: 40px;\">The Income Tax Act, 1961 specifies the criteria for determining whether an individual is required to get a statutory audit.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"3_The_Chartered_Accountants_Act_1949\"><\/span>3. The Chartered Accountants Act, 1949:<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"padding-left: 40px;\">The Chartered Accountants Act, 1949 specifies the qualifications and registration requirements for chartered accountants who can conduct statutory audits.<\/p>\n<p>If a professional requirements physiotherapist is unsure whether they are required to get a statutory audit, they should consult with a tax advisor or a chartered accountant.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>To visit: <a class=\"in-cell-link\" href=\"https:\/\/www.mca.gov.in\/\" target=\"_blank\" rel=\"noopener\">https:\/\/www.mca.gov.in\/<\/a><\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-12792 aligncenter\" src=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/11.2-ITR-300x201.jpg\" alt=\"\" width=\"210\" height=\"141\" srcset=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/11.2-ITR-300x201.jpg 300w, https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/11.2-ITR.jpg 600w\" sizes=\"auto, (max-width: 210px) 100vw, 210px\" \/><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center;\"><strong>For further details access our website: <a class=\"in-cell-link\" href=\"https:\/\/vibrantfinserv.com\/\" target=\"_blank\" rel=\"noopener\">https:\/\/vibrantfinserv.com<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Statutory Audit for a Physiotherapist &nbsp; The applicability of statutory audit for a physiotherapist depends on the following factors: 1. Turnover: If the physiotherapist&#8217;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\u2026 <span class=\"read-more\"><a href=\"https:\/\/vibrantfinserv.com\/kb\/statutory-audit-for-a-physiotherapist\/\">Read More &raquo;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":13382,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2459],"tags":[811,2610,2311],"class_list":["post-12764","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-statutory-audit","tag-financialcompliance","tag-professionalrequirements","tag-statutoryaudit"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Statutory Audit for a Physiotherapist\/ Article\/ VibrantFinserv -<\/title>\n<meta name=\"description\" content=\"The applicability of statutory audit for a physiotherapist depends on the following factors:1. 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