{"id":14328,"date":"2023-08-26T12:18:29","date_gmt":"2023-08-26T12:18:29","guid":{"rendered":"https:\/\/vibrantfinserv.com\/kb\/?p=14328"},"modified":"2024-05-10T10:21:42","modified_gmt":"2024-05-10T10:21:42","slug":"turnover-limit-for-editors","status":"publish","type":"post","link":"https:\/\/vibrantfinserv.com\/kb\/turnover-limit-for-editors\/","title":{"rendered":"What is the turnover limit for drafting a balance sheet for the editors?"},"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=\"90\" height=\"43\" 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: 90px) 100vw, 90px\" \/><\/p>\n<h2 style=\"text-align: center;\">Turnover Limit for Editors<\/h2>\n<h2 style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright\" src=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/06\/balance-sheet-660x364.jpg\" alt=\"Turnover Limit for Editors\" width=\"203\" height=\"112\" \/><\/h2>\n<p>&nbsp;<\/p>\n<p>In India, the turnover limit for editors determining whether they need to prepare a balance sheet is specified under the Companies Act 2013.<\/p>\n<p>According to this Act, editors, who can be consider as professionals, are typically exempt from preparing a balance sheet if their total gross receipts or turnover doesn&#8217;t exceed \u20b91 crore during the financial year.<\/p>\n<p>This turnover threshold is a key factor in determining the applicability of provisions related to financial reporting and balance sheet preparation.<\/p>\n<p>To put it simply, if an editor&#8217;s gross receipts or turnover from their professional work remains below \u20b91 crore in a financial year, they are generally not requir to draft a balance sheet as per the Companies Act 2013.<\/p>\n<p>However, it&#8217;s important to note that this exemption might be subject to change based on updates in the law or regulations.<\/p>\n<p>&nbsp;<\/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-medium wp-image-13403 aligncenter\" src=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/balance-sheet-3-300x185.jpg\" alt=\"\" width=\"300\" height=\"185\" srcset=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/balance-sheet-3-300x185.jpg 300w, https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/balance-sheet-3-768x475.jpg 768w, https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/balance-sheet-3-660x408.jpg 660w, https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/balance-sheet-3.jpg 825w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/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>Turnover Limit for Editors &nbsp; In India, the turnover limit for editors determining whether they need to prepare a balance sheet is specified under the Companies Act 2013. According to this Act, editors, who can be consider as professionals, are typically exempt from preparing a balance sheet if their total gross receipts or turnover doesn&#8217;t\u2026 <span class=\"read-more\"><a href=\"https:\/\/vibrantfinserv.com\/kb\/turnover-limit-for-editors\/\">Read More &raquo;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":11641,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2539],"tags":[1061,976,2608],"class_list":["post-14328","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-balance-sheet-draft","tag-balancesheet","tag-financialreporting","tag-turnoverlimit"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Turnover Limit for Editors\/ Article\/ VibrantFinserv -<\/title>\n<meta name=\"description\" content=\"In India, 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