Taxation & Financial Advisory
We will give advice, audit accounts and provide trustworthy information about financial records. So that you can run your business peacefully!
Audit and Assurance Services
An audit is a systematic review and assessment of all the information or documents. There are different Audit types, but in the context of professional services, an audit is generally considered financial. The primary intention of an Audit is to provide reasonable assurance, but not absolute assurance that the financial statements give an accurate and fair view with regard to the financial reporting framework. Assurance is a professional service provided with the aim of improving the quality and transparency of information. It also reduces the chance of problems that occurs due to incorrect information. Audit and assurance services can be regulatory or compliance-based.
15CA 15CB Certificate Under Income Tax Act, 1961
As per Section 195 of the Income-tax Act, 1961, every person is liable for making payment to non-residents shall deduct TDS from the payments made to non-residents if such sum is chargeable to Income-tax then the withholding tax need to be deducted and form 15CA and 15CB is the declaration for the same. A person making the remittance (a payment) to a Non-Resident (not being a company) or a Foreign Company has to submit form 15CA. This form is submitted online. In some cases, a Certificate from Chartered Accountant in form 15CB is required after uploading form 15CA online.
Book Keeping & Outsourcing
Bookkeeping is the process of recording your company’s financial transactions into organized accounts on a daily basis. It can also refer to the different recording techniques businesses can use. Bookkeeping is a necessary process for accounting firms. It records your business’s financial transactions into organized accounts daily. However, it is tiresome and time-consuming, making it difficult to handle in-house. So, it is better to assign the bookkeeping tasks to a third-party provider. Outsourced accounting is when an organization hires a third party to accomplish its finance and accounting services. The practice of outsourcing promotes cost savings along with facilitating expansion. It works well for small business owners who cannot afford in-house bookkeeping.
Cross Border Transaction
A cross-border transaction is basically any transfer of property, goods, or services between individuals or business entities who reside in different jurisdictions. The transaction itself maybe something as simple as buying widgets over the internet from China or as complex as multi-tier joint venture investment structures in another country with complex service and distribution agreements. Some of the most common cross-border payment methods include bank transfers, credit card payments, and alternative payment methods such as previously mentioned, E-Wallets and mobile payments.
Foreign Direct Investment (FDI) in India
Foreign direct investment (FDI) is when a company takes controlling ownership in a business entity in another country. FDI is the sum of equity capital, long-term capital, and short-term capital as shown in the balance of payments. FDI usually involves participation in management, joint venture, transfer of technology, and expertise. Foreign direct investment in India is a major monetary source for economic development in India. Foreign companies invest directly in fast-growing private auspicious businesses to take benefit of cheaper wages and changing business environment of India.
Funding / Loans
Funding is the provision of capital. For startups, it’s the provision of capital that allows you to realize your business plan. To cover the whole funding of your idea you will most likely need several financing sources. Company funding is the money that investors offer to a company. In general, there are two types of financing that a company obtains; equity (stock) and debt (bonds/loans). And when a company receives it, they then use this cash for the operating capital. With this funding, shareholders and bondholders expect to earn returns from what they invested in the company in the form of stock appreciation, dividends, and interest. The growth and amount of revenue the company can gain will determine which type of company funding will be the best in the end.
Tax Return Filing
An Income tax return (ITR) is a form used to file information about your income and tax to the Income Tax Department. The tax liability of a taxpayer is calculated based on his or her income. In case the return shows that excess tax has been paid during a year, then the individual will be eligible to receive an income tax refund from the Income Tax Department. As per the income tax laws, the return must be filed every year by an individual or business that earns any income during a financial year. The income could be in the form of a salary, business profits, income from house property or earned through dividends, capital gains, interests, or other sources.
This is a detailed assessment and is referred to as a scrutiny assessment. At this stage, a detailed scrutiny of the return of income will be carried out to confirm the correctness and genuineness of various claims, deductions, etc., made by the taxpayer in the return of income.
Questions that may arise
When audit findings reveal flaws or errors in certain financial documents, processes and systems, the immediate response would be to find and implement quick fixes to tackle any issues raised in the short term.When audit findings reveal flaws or errors in certain financial documents, processes and systems, the immediate response would be to find and implement quick fixes to tackle any issues raised in the short term.
An expert who has your Back
You get a consultant who learns the nature of your business. They know what to file, which exemptions and reliefs you’re entitled to, and take care of the documents. When you have a question, just drop a message or call, they respond daily and answer to the point.