Balance Sheet Preparation
Plan features:
Balance Sheet Preparation made easy: Streamline your financial documentation with TaxHelpdesk’s professional service. We provide customisable options and ensure that the service is provided on time.
List of Services Under Balance Sheet Preparation Plan
Preparation of financial statements
Preparation of balance sheet
Profit and loss statement
Projected report
TaxHelpdesk’s Expert dedicated assistance
Who must buy this plan?
Documents to be provided for preparation of balance sheet
– Bank accounts statement
– Entity or organisation’s details
– MSME Certificate, if applicable
– Details of assets and liabilities
– Trial balance details
FAQs
A balance sheet is a summary of the financial balances of an individual or organization, whether it be a sole proprietorship, partnership firm, private limited company or other organization such as government or non-profit organizations. Having said that, the basis of balance sheet is Assets + Liabilities.
The deadline for filing a balance sheet depends on the type of entity. Generally, companies are required to file their balance sheets within 30 days from the date of the Annual General Meeting (AGM), which should be held within six months from the end of the financial year.
Yes, the balance sheet should be prepared and filed in the prescribed format as per the applicable accounting standards and regulatory requirements. In India, the format and requirements are outlined in Schedule III of the Companies Act, 2013.
Yes, small companies as defined under the Companies Act, 2013 may have certain exemptions or relaxed filing requirements. These exemptions can include simplified formats, reduced filing fees, or extended filing timelines. The specific criteria and exemptions vary based on the company’s classification as a small company.
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