{"id":14120,"date":"2023-08-29T08:38:31","date_gmt":"2023-08-29T08:38:31","guid":{"rendered":"https:\/\/vibrantfinserv.com\/kb\/?p=14120"},"modified":"2024-04-30T09:20:34","modified_gmt":"2024-04-30T09:20:34","slug":"bookkeeping-for-the-engineers","status":"publish","type":"post","link":"https:\/\/vibrantfinserv.com\/kb\/bookkeeping-for-the-engineers\/","title":{"rendered":"What is the turnover limit for bookkeeping for the engineers?"},"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<h2 style=\"text-align: center;\">Bookkeeping for the Engineers<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignright\" src=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/32.6-itr.png\" alt=\"Bookkeeping for the Engineers\" width=\"243\" height=\"184\" \/><\/p>\n<p>&nbsp;<\/p>\n<p><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;According to the Companies Act, 2013, engineers in India are exempt from maintaining books of accounts if their turnover does not exceed 1,20,000 in any of the three preceding years.\\r\\n\\r\\nHowever, there are also some exceptions to this rule. For example, engineers who are also directors or partners of a company are required to maintain books of accounts regardless of the turnover of the company. Additionally, engineers who are involved in certain high-risk activities, such as construction or trading in securities, are also required to maintain books of accounts regardless of the turnover of their business.\\r\\n\\r\\nIf you are an engineer and you are unsure whether you are required to maintain books of accounts, you should consult with an accountant or lawyer.&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}\"> Bookkeeping for the Engineers, According to the Companies Act, 2013, engineers in India are exempt from maintaining books of accounts if their turnover does not exceed 1,20,000 in any of the three preceding years.<\/span><\/p>\n<p>However, there are also some exceptions to this rule. For example, engineers who are also directors or partners of a company must maintain books of accounts regardless of the turnover of the company.<\/p>\n<p>Additionally, engineers involved in certain high-risk activities, such as construction or trading in securities, must maintain books of accounts regardless of the turnover of their business.<\/p>\n<p>If you are an engineer and you are unsure whether you need to maintain books of accounts, you should consult with an accountant or lawyer.<\/p>\n<p><strong>To visit: <a href=\"https:\/\/www.mca.gov.in\/\">https:\/\/www.mca.gov.in\/<\/a><\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-15968 aligncenter\" src=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/59.jpg\" alt=\"\" width=\"274\" height=\"184\" \/><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center;\"><strong>For further details access our website: <a href=\"https:\/\/vibrantfinserv.com\/\">https:\/\/vibrantfinserv.com<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bookkeeping for the Engineers &nbsp; Bookkeeping for the Engineers, According to the Companies Act, 2013, engineers in India are exempt from maintaining books of accounts if their turnover does not exceed 1,20,000 in any of the three preceding years. However, there are also some exceptions to this rule. For example, engineers who are also directors\u2026 <span class=\"read-more\"><a href=\"https:\/\/vibrantfinserv.com\/kb\/bookkeeping-for-the-engineers\/\">Read More &raquo;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":15988,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2588],"tags":[773,3053,2608],"class_list":["post-14120","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-book-writing","tag-bookkeeping","tag-engineeringprofession","tag-turnoverlimit"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Bookkeeping for the Engineers\/ VibrnatFinserv-<\/title>\n<meta name=\"description\" content=\"Bookkeeping for the Engineers, According to the Companies Act, 2013, engineers in India are exempt from maintaining books of accounts-\" \/>\n<meta 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