{"id":17223,"date":"2023-08-30T10:45:08","date_gmt":"2023-08-30T10:45:08","guid":{"rendered":"https:\/\/vibrantfinserv.com\/kb\/?p=17223"},"modified":"2024-05-08T11:42:27","modified_gmt":"2024-05-08T11:42:27","slug":"book-keeping-for-media-houses","status":"publish","type":"post","link":"https:\/\/vibrantfinserv.com\/kb\/book-keeping-for-media-houses\/","title":{"rendered":"Are there any threshold limit of bookkeeping for Media House?"},"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=\"92\" height=\"44\" 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: 92px) 100vw, 92px\" \/><\/p>\n<h2 style=\"text-align: center;\"><span style=\"color: #000000;\"><strong>Book keeping For Media Houses<\/strong><\/span><\/h2>\n<p style=\"text-align: center;\"><span style=\"color: #000000;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright\" src=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/Book-Keeping-1-660x371.webp\" alt=\"Threshold Limits In Bookkeeping\" width=\"287\" height=\"161\" \/><\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"color: #000000;\" data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Sure, there is a threshold limit of bookkeeping for media houses in India. Under Section 44AB of the Income Tax Act, 1961, a media house is required to maintain regular books of account and other documents if its turnover exceeds Rs. 25 lakhs in any financial year. This includes turnover from all sources, including advertising, subscription, and other income.\\n\\nIf the turnover of a media house is less than Rs. 25 lakhs, it is not required to maintain regular books of account. However, it is still advisable to do so, as it can help to:\\n\\nTrack the financial performance of the business\\nComply with other regulatory requirements\\nResolve disputes with third parties\\nPrepare for future taxation liabilities\\nIf you are a media house with a turnover of less than Rs. 25 lakhs, you can choose to maintain simplified books of account. However, these books of account must still be maintained in a systematic manner and must be able to provide a true and fair view of the financial affairs of the business.&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}\">Sure, there is a threshold limit of book keeping for media houses in India. Under Section 44AB of the Income Tax Act, 1961, a media house is required to maintain regular books of account and other documents if its turnover exceeds Rs. 25 lakhs in any financial year. <\/span><\/p>\n<p><span style=\"color: #000000;\" data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Sure, there is a threshold limit of bookkeeping for media houses in India. Under Section 44AB of the Income Tax Act, 1961, a media house is required to maintain regular books of account and other documents if its turnover exceeds Rs. 25 lakhs in any financial year. This includes turnover from all sources, including advertising, subscription, and other income.\\n\\nIf the turnover of a media house is less than Rs. 25 lakhs, it is not required to maintain regular books of account. However, it is still advisable to do so, as it can help to:\\n\\nTrack the financial performance of the business\\nComply with other regulatory requirements\\nResolve disputes with third parties\\nPrepare for future taxation liabilities\\nIf you are a media house with a turnover of less than Rs. 25 lakhs, you can choose to maintain simplified books of account. However, these books of account must still be maintained in a systematic manner and must be able to provide a true and fair view of the financial affairs of the business.&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}\">This includes turnover from all sources, including advertising, subscription, and other income.<\/span><\/p>\n<p><span style=\"color: #000000;\"><strong>If the turnover of a media house is less than Rs. 25 lakhs, it is not required to maintain regular books of account. However, it is still advisable to do so, as it can help to:<\/strong><\/span><\/p>\n<ul>\n<li><span style=\"color: #000000;\">Track the financial performance of the business<\/span><\/li>\n<li><span style=\"color: #000000;\">Comply with other regulatory requirements<\/span><\/li>\n<li><span style=\"color: #000000;\">Resolve disputes with third parties<\/span><\/li>\n<li><span style=\"color: #000000;\">Prepare for future taxation liabilities<\/span><\/li>\n<\/ul>\n<p><span style=\"color: #000000;\">If you are a media house with a turnover of less than Rs. 25 lakhs, you can choose to maintain simplified books of account. <\/span><\/p>\n<p><span style=\"color: #000000;\">However, these books of account must still be maintained in a systematic manner and must be able to provide a true and fair view of the financial affairs of the business.<\/span><\/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=\"size-medium wp-image-12349 aligncenter\" src=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/bookkeeping-300x200.jpg\" alt=\"\" width=\"300\" height=\"200\" srcset=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/bookkeeping-300x200.jpg 300w, https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/bookkeeping-768x512.jpg 768w, https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/bookkeeping-660x440.jpg 660w, https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/08\/bookkeeping.jpg 1000w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center;\"><strong><span style=\"color: #000000;\">For further details access our website:<\/span> <a href=\"https:\/\/vibrantfinserv.com\/\">https:\/\/vibrantfinserv.com<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Book keeping For Media Houses &nbsp; Sure, there is a threshold limit of book keeping for media houses in India. Under Section 44AB of the Income Tax Act, 1961, a media house is required to maintain regular books of account and other documents if its turnover exceeds Rs. 25 lakhs in any financial year. This\u2026 <span class=\"read-more\"><a href=\"https:\/\/vibrantfinserv.com\/kb\/book-keeping-for-media-houses\/\">Read More &raquo;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":12017,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2588],"tags":[3786,3784,3785],"class_list":["post-17223","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-book-writing","tag-bookkeepingformediahouses","tag-mediabookkeepingthresholds","tag-mediafinancelimits"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Book keeping For Media Houses\/ Article\/ VibrantFinserv-<\/title>\n<meta name=\"description\" content=\"Sure, there is a threshold limit of book keeping for media houses in India. 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