Income Tax Filing
CAs handle the complete process of filing income tax returns (ITR) for various entities:
- Understanding Your Income: They help categorize all your income sources, whether it’s from salary, business, profession, house property, capital gains, or other sources.
- Deductions & Exemptions: CAs identify all eligible deductions (like those under Section 80C, 80D, etc.) and exemptions to reduce your taxable income.
- Correct ITR Form Selection: Based on your income sources and other factors, CAs determine and file the appropriate ITR form (e.g., ITR-1, ITR-2, ITR-3, ITR-4, etc.).
- Return Preparation & Submission: They accurately prepare your income tax return and ensure its timely e-filing with the Income Tax Department.
- Verification: CAs guide you through the process of verifying your ITR post-filing.
- Handling Notices: If you receive any notices from the Income Tax Department, CAs can assist in understanding and responding to them.
Income Tax Advisory
Beyond just filing, CAs provide strategic advice to help you optimize your tax situation:
- Tax Planning: They offer personalized tax planning strategies for individuals and businesses, focusing on legitimate ways to save tax through investments and expenses.
- Advance Tax Planning: CAs help businesses and individuals calculate and pay their advance tax liabilities correctly and on time to avoid penalties.
- Business Tax Structuring: For businesses, they advise on efficient tax structures, profit repatriation, and managing tax implications of various transactions.
- Capital Gains Advisory: Guidance on tax implications of selling assets like property or shares, and strategies to minimize capital gains tax.
- TDS/TCS Compliance: Advice and assistance on Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) provisions for businesses.
- International Taxation: For clients with international income or assets, CAs provide advice on Double Taxation Avoidance Agreements (DTAA) and other international tax matters.
- Representation: CAs can represent you before tax authorities during assessments or appeals, if needed.
TDS and TCS Compliance Services
In India, Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) are crucial mechanisms for collecting income tax at the very point of income generation.
Navigating their complex rules, calculations, deductions/collections, and timely deposits can be challenging for businesses. Chartered Accountants (CAs) offer specialized services to ensure complete compliance with TDS and TCS regulations.
1. Applicability & Rate Determination
- CAs help businesses understand when TDS/TCS provisions apply to their payments/receipts (e.g., salaries, rent, professional fees, contractor payments, sale of goods).
- They determine the correct TDS/TCS rates applicable based on the type of transaction, the recipient’s status (PAN availability), and the prevailing income tax rules.
2. Calculation & Deduction/Collection
- Assisting in the accurate calculation of TDS/TCS amounts to be deducted from payments or collected on receipts.
- Ensuring proper deduction/collection at the correct time, as specified by law.
3. Deposit of Tax
- Guiding businesses on the timely deposit of TDS/TCS amounts with the government, usually by the 7th of the following month (for most cases).
- Facilitating the generation of challans for tax payment.
4. TDS/TCS Return Filing
- Preparing and filing periodic TDS returns (Form 24Q, 26Q, 27Q, 27EQ) accurately and on time with the Income Tax Department. These returns detail all deductions/collections made.
- Ensuring the correct PAN details of deductees/collectees are mentioned to avoid discrepancies.
5. Issuance of Certificates (Form 16/16A/27D)
- Assisting businesses in generating and issuing TDS certificates (Form 16 for salaries, Form 16A for non-salary payments) to deductees within prescribed deadlines.
- Issuing TCS certificates (Form 27D) to collectees.
6. Reconciliation & Error Resolution
- Reconciling TDS/TCS records with the Income Tax Department’s portal (TRACES) to identify mismatches.
- Helping in resolving discrepancies like incorrect challan mapping, short deduction/deposit, or PAN errors.
7. Advisory & Notice Handling
- Providing ongoing advice on various TDS/TCS complexities and changes in regulations.
- Assisting in responding to notices from the Income Tax Department regarding TDS/TCS defaults or discrepancies.
Accounting and Bookkeeping Services
Accurate accounting and bookkeeping are vital for a healthy business, offering insights and ensuring compliance. CAs provide services, essentially acting as your outsourced finance team.
- Setup & Recording: CAs help set up your accounting system (Chart of Accounts) and accurately record all daily transactions (sales, purchases, payments, receipts).
- Reconciliation: They regularly match your books with bank statements to ensure accurate cash balances.
- Managing Receivables & Payables: They track customer invoices and manage vendor payments to optimize cash flow.
- Payroll (Optional): CAs can handle salary calculations and related statutory compliances.
- Expense Tracking: They categorize and track all business expenses for clear spending overviews and tax support.
- GST Data: They maintain records essential for your GST compliance and filings.
- Financial Reports: CAs prepare crucial reports like Profit & Loss Statements, Balance Sheets, and Cash Flow Statements to show your business’s financial health.
- Custom Reporting: They offer tailored financial reports for specific insights.
- Audit Readiness: CAs ensure meticulous record-keeping, making annual audits smoother.
Annual Compliance and ROC Filing
For companies registered in India, fulfilling annual compliance requirements with the Registrar of Companies (ROC) under the Companies Act, 2013, is mandatory.
This ensures legal standing, transparency, and avoids hefty penalties. Chartered Accountants (CAs) provide end-to-end services to manage these crucial yearly filings.
- Holding Board Meetings: Ensuring the company holds the required number of Board Meetings annually and maintains their proper minutes.
- Annual General Meeting (AGM): Guiding the company on holding its Annual General Meeting within the statutory timelines (usually by September 30th for the financial year ending March 31st).
- Financial Statement Preparation: Preparing and finalizing the company’s audited financial statements (Balance Sheet, Profit & Loss Account, Cash Flow Statement) for the financial year.
- Director’s Report: Assisting in drafting the Director’s Report, which summarizes the company’s performance, governance, and other statutory details.
- Statutory Audit: Facilitating the mandatory statutory audit of the company’s financial records by an independent auditor.
- ROC Form Filing: Preparing and filing key annual forms with the Ministry of Corporate Affairs (MCA) through the ROC portal:
- Form AOC-4: For filing the company’s financial statements (within 30 days of the AGM).
- Form MGT-7/MGT-7A: For filing the company’s Annual Return, detailing shareholders, directors, and other corporate information (within 60 days of the AGM).
- Form ADT-1: For informing the ROC about the appointment or reappointment of the statutory auditor (within 15 days of the AGM).
- Form DIR-3 KYC: Ensuring all directors complete their annual KYC verification with the MCA (by September 30th).
- Maintaining Statutory Registers: Ensuring the company maintains all mandatory statutory registers (e.g., Register of Members, Directors, Charges) as per the Companies Act, 2013.
- Other Event-Based Filings: Advising and assisting with any additional filings triggered by specific events during the year (e.g., changes in directors, share capital, registered office).
Specialized CA Services
Navigating the complexities of financial regulations and corporate compliance requires expert guidance.
1. Project Report and CMA Data Preparation for Bank Loans
Securing bank loans often requires meticulously prepared project reports and Credit Monitoring Arrangement (CMA) data. We assist businesses in compiling comprehensive documents that present their financial projections and operational plans clearly and accurately, significantly enhancing their chances of loan approval.
2. Company and LLP Name Change or Address Change
Whether you’re rebranding or relocating, changing your company or LLP name or address involves specific regulatory procedures. We streamline this process, handling all the necessary documentation and filings with the Registrar of Companies (RoC) to ensure a smooth and compliant transition.
3. Share Transfer and Allotment Services
Managing share transfers and allotments is crucial for maintaining accurate ownership records and complying with corporate governance norms. Our services cover all aspects, including drafting transfer deeds, updating statutory registers, and filing relevant forms with the RoC for both private and public companies.
4. Business Closure and Strike-Off Services
When it’s time to cease operations, we guide businesses through the complexities of closure and strike-off procedures. This includes preparing and filing necessary applications with the RoC, ensuring all legal requirements are met for a proper and compliant winding up of your company or LLP.
5. Statutory and Internal Audit Services
Regular audits are vital for financial transparency and regulatory compliance. We offer both statutory audit services, mandated by law to provide an independent review of financial statements, and internal audit services, which help organizations improve their internal controls and operational efficiency.
6. Trademark Registration Services
Protecting your brand identity is paramount. Our trademark registration services help businesses secure their unique names, logos, and slogans. We manage the entire registration process, from conducting comprehensive searches to filing applications and responding to office objections, ensuring your intellectual property is safeguarded.
How Our Online CA Service Process Works
At AccountingKaro, we’ve made it easy and stress-free to get expert Chartered Accountant (CA) services online. Whether you’re registering a new business, filing taxes, or managing your accounts, our process is smooth, transparent, and fully digital.
Step 1: Choose Your Service and Submit Your Query
Start by browsing through our range of CA services on the website. Whether you need help with company registration, GST, income tax filing, or bookkeeping, simply choose the service that fits your needs.
Fill out a quick form or use the “Get Started” button to submit your query. You can also call or WhatsApp us if you prefer personal guidance.
Step 2: Get a Free Consultation with Our CA Expert
Once we receive your query, our team will schedule a free consultation with a qualified Chartered Accountant.
During the consultation, we will:
- Understand your exact requirement
- Answer any questions you may have
- Suggest the best approach or service package based on your business needs.
This step ensures you get the right guidance from day one, without any cost.
Step 3: Securely Upload Your Documents Online
After finalizing the service, you will be asked to upload your necessary documents through a secure online portal.
Don’t worry, your data is fully protected with encryption and privacy measures.
We will guide you through what documents are needed, such as PAN, Aadhaar, business proof, or bank details, and you can easily upload them from your phone or computer.
Step 4: We Process Your Work and Keep You Updated
Our expert CA team will start working on your request immediately. Whether it’s registering your business, filing your returns, or preparing financial reports, we handle everything from end to end.
We’ll also keep you updated at every stage via email, WhatsApp, or phone, so you always know what’s happening with your work.
Step 5: Receive Your Completed Files and Acknowledgements
Once your task is complete, we will send you all relevant documents, certificates, or filings over email and on your dashboard.
You’ll also receive clear instructions on what to do next (if anything). We ensure that all paperwork is properly filed, acknowledged, and ready for your future reference or government inspections.
