Our Services
Income Tax
We provide Income Tax Consultancy and related services in best possible way. We are known for accurate and timely preparation and Submission of Income Tax returns.
- Preparation and Filing Income Tax return for Businesses and Non Businesses.
- Preparation and Filing TDS returns
- Tax Planning Services
- Payment of Taxes on behalf of clients
- Filing response to Income Tax Assessment.
- Appeals under Income Tax.
- Calculation of Advance Tax
Preparation and Filing Income Tax Return (ITR) for Businesses and Non Businesses.
At the end of each Financial Year i.e. after 31st March is over, every person earning Salary or income from any other sources such as Sale of property, Sales of shares or Mutual Funds, Rent income from House property, Interest income, Commission Income etc. is required to prepare a statement of tax payable, pay the tax, and file this statement in proper form (format). This process is known as filing of Income Tax Return.
We provide specialized service for Timely and Accurate Filing of Income Tax Returns to Individuals (Non-business) and Business entity (Proprietor) and others.
Preparation and Filing TDS returns
What is Tax Deducted at Source (TDS) as per Income Tax Act?
It is an Income Tax which has to be deducted mandatorily by the Person making certain payments for reason being Salary, Professional Fees, Contract Payments, etc.
Who is liable to deduct Tax deducted at Source (TDS) as per Income Tax Act:
An Individuals or an H.U.F. is not liable to deduct TDS on such payment except where the individual or H.U.F. is carrying on a business/profession where accounts are required to be audited u/s 44AB, in the immediately preceding financial year.
All the companies and Partnership firms are liable to deduct TDS.
Also, various Societies and Co-operative societies, if making certain payment above the specified limit has to deduct Tax (TDS) under provisions of Income Tax Act.
WE DO PROVIDE CONSULTATION AND RELATED SERVICES TO CLIENTS AT REGULAR INTERVALS IN FOLLOWING MANNER:
- Guidance as how much TDS is to be deducted from each transaction before making payment.
- Guidance about the date on which TDS is to be deducted.
- Guidance about the date on which TDS is to be deposited to Government.
- Guidance about the method to deposit the TDS to Government. We help as well as we deposit TDS on behalf of our clients to Government using Internet Banking.
- Guidance about the procedure to be followed if TDS is not deducted and / or deposited within due time.
- Preparation and Submission of TDS Returns electronically (E-TDS).
- Preparation and Submission of Revised TDS Returns to rectify the error, if any.
We are also specialized in rectifying all TDS defaults notice received from TDSCPC.
So, BOOK APPOINTMENT ! with us and avoid all TDS defaults.
Filing response to Income Tax Assesments
We are specialized in submitting response to Income Tax Authorities for Assessment notices received, and we are providing this service from more than decade.
- Reply in response to Notice under section 143(2) of Income Tax Act for Assessment under section 143(3), (generally called as Scrutiny Assessment.)
- Reply in response to Notice under section 147 for Assessment under section 148 of Income Tax Act.
Submission of Appeal to CIT(A)
If assessee is aggrieved by the Assessment made by the Income Tax Officer, Assessee has right to appeal to Commissioner of Income tax i.e CIT(A) under section 246A, First Appellant Authority.
We help you in submitting CIT(A) and submitting response in relation to the same as we are specialised in this area more than a decade.
We provide Consultation service in relation to Submission of Appeal to CIT(A).
Goods and Services Tax (GST)
We provide GST Consultation and related services in best possible way.
- Registration under GST
- Maintenance of Books under GST Act
- Filing Returns under GST
- Submission of Responses to GST Authorities in relation to Assessment or queries.
- Filing Response to Revocation of GST registration.
Registration under GST
As per Section 24 of CGST Act 2017, certain categories of Business require Compulsory Registration.
- For instance, if a person is making Interstate taxable supply of goods then the said person is required to get compulsorily registered under GST irrespective of Turnover limit.
- Casual Taxable person, Person making supply under reverse charge, Ecommerce operator, etc.
Exception: Interstate supply of Service, Handicraft goods and Job worker.
We provide registration service for all types of Registration:
- Normal Tax payer
- Composition Tax payer
- Casual Taxable person
- Input service Distributor (ISD)
- Tax deductor at source (TDS)/ Tax collector at source (TCS)
- SEZ developer or unit.
Maintenance of Books under GST
As per Section 35 of Central Goods and Service Tax Act, 2017 read with Rule 56 of the Central Goods and Service Tax Rule, 2017, every Registered person under GST must maintain all records at his principal place of business.
We provide services of maintaining required Register, records, ledger as specified in above mentioned section.
It is mandatory to Retain the said records for the time period specified in section 36 of Central Goods and Service Tax Act, 2017 i.e 72 months.
Consequences of Non-Maintaining proper books of accounts:
If the taxpayer fails to maintain proper records in respect of goods/services, then the proper officer shall determine the amount of tax payable on the goods or services or both that are not accounted for, as if such goods or services or both had been supplied by such person and the provisions of Section 73 or Section 74, as the case may be, shall, mutatis mutandis, apply for determination of such tax.
Filing Returns under GST
We provide GST Return Filing services to various kinds of registration such as
- GSTR 1: Normal and Casual Taxable persons
- GSTR 3B: Normal Taxable persons
- GSTR 4: Composition Taxable person
- GSTR 5: Non resident foreign taxpayers
- GSTR 6: Input service Distributor (ISD)
- GSTR 7: Tax deductor at source (TDS)
- GSTR 8 Ecommerce operator etc.
Response to Notice from GST department
Various Notices are issued by GST Department, Following are some examples:
- Show cause notice as to why GST Registration has not been taken.
- Notice for Input Tax credit is wrongly availed.
- Show cause Notice for Questioning eligibility to be Composition dealer.
- Show cause Notice for Demand of Tax. Etc.
We provide services in connection with reply to all above Notices as per provisions of GST Act.
So, CONTACT US and avoid further consequences such as Penalty, revocation of GST registration etc.
Profession Tax Services (PT)
There are Two types of Profession Tax registration under Maharashtra Profession Tax:
PTRC Registration: The Registration is required to be taken by Employer for paying Salaries to employees exceeding a limit.
PTEC Registration: The Registration to be taken by Professionals for carrying on any profession under Maharashtra State.
Employers have to deduct Profession Tax per month from salary of Employee:
For Male Employees: If salary paid is more than Rs.7,500 per month, then Profession Tax need to be deducted and deposited Rs.200 each month except for the month of February. (For the month of February Rs.300 has to be deducted and deposited.)
In overall Rs.2,500 has to be deducted and deposited per year.
For Female Employees: If salary paid is more than Rs.10,000 per month, then Profession Tax need to be deducted and deposited Rs.200 each month except for the month of February.
(For the month of February, Rs.300 has to be deducted and deposited.)
In overall Rs.2,500 has to be deducted and deposited per year.
And proper Return need to be Filed Return as per applicable periodicity under the same Act.
A Person* who is engaged in business or Profession is mandatorily required to get registered under Maharashtra Profession Tax Act, 1975 and Pay Rs.2,500 per year and File Return under the same Act.
We provide services in relation to Maharashtra Profession Tax services.
- Registration under The Maharashtra State Tax on Professions, Trades, Callings and Employments Act, 1975.
- Filing Returns under The Maharashtra State Tax on Professions, Trades, Callings and Employments Act, 1975.
- Paying Taxes on behalf of Client under this Act.
Digital Signature Certificate (DSC)
Mandatory: –
A person who is required to sign Digitally various reports such as
- Audit under section 44AB i.e Tax Audit under Income Tax Act
- Sign any Forms, Reports under Companies Act,2013.
Optional: –
- Sign and issue certificate under section 203 of Income Tax Act,1961 i.e issue TDS Form 16 to their Employees.
- Societies registered under Society Act has to issue TDS Certificate there they can use Digital Signature Certificate (DSC)
- Charitable trusts issuing Form 16 to their Employees or Form 16A to their Contractors or Professionals.
- Any person can voluntarily obtain and use Digital Signature (DSC) on electronic documents.
Authentication: DSC holders have authentication of Documents, images anything when conducting online business.
Secure and Fast: Transaction and Business is often very secure, confidential, Quick and Fast.
No chance of Alteration or Forgery: There are no chances if a holder signs a document, images, or any document by DSC as holder only has the key of DSC.
The Charges of Digital Signature Certificate (DSC) depends upon the period for which you are willing to obtain Digital Signature Certificate (DSC) but minimum 1 year charges are to be paid.
If you are willing to obtain for the period of more than 1 year then you will be benefited in terms of cost of Digital Signature Certificate (DSC).
Service of Digital Signature Certificate (DSC) has to be renewed as per validity.
If you continue your service from same service provider every year you will get benefit.
Maintenance of Accounts
Under various Laws in India
- Every person carrying on Business or Profession as per Section 44AA of Income Tax Act,1961
- Every person who are liable to be audited under section 44AB of the Income Tax Act,1961
- Every registered person under GST Act as per section 35 of CGST Act, 2017
- Every Charitable Trust/NPO/NGO
- Every person who are receiving donation/contribution from foreign country have to maintain separate Books under Foreign Contribution Regulation Act,2010
- Every Co-operative society including Co-operative Housing society
- Every Company incorporated in India has to mandatorily maintain Books of Accounts under Companies Act,2013.
Services to Corporates and Non-Corporates for Maintenance of Books of Accounts under various Laws as mentioned above.
We provide services to
- Sole Proprietorship Business and Professionals.
- Corporate Entities such as Limited Liability Partnership (LLP).
- Companies formed under Companies Act,2013.
- Societies registered under Societies Act.
- Co-operative Societies.
- Partnership Firms.
- Charitable Trusts, ETC.
Services to Non-Residents (NRI)
We provide services to Non-residents in relation to following matters:
- Filing Return of Income by determining Residential Status as per Income Tax Act,1961 as well as Foreign Exchange Management Act,1999.
- Guidance to Resident Individuals for Foreign Remittance as per Foreign Exchange Management Act,1999.
- Repatriation related issues and taxation treatment in India about repatriation as per Foreign Exchange Management Act,1999 (FEMA) and Income Tax Act,1961 as amended by Finance Act,2021.
Compliances for Co-operative Societies/Co-operative Housing Societies
- Co-operative society has to obtain PAN and maintain Books of Accounts under various Laws in India.
- Co-operative Housing Societies also has to apply for TAN if they are liable to deduct tax (TDS) under provisions of Income Tax Act.
- Co-operative Societies has to deduct Tax (TDS) on various payments such as Contract Payment, payment to Professionals which are exceeding the limit prescribed in the Income Tax Act.
- Co-operative Societies has to get themselves registered under GST Act if their Gross Business receipts exceeds applicable limit at that point of time
- Co-operative societies has to get their Accounts Audited under applicable Laws in India.
- Co-operative Housing Societies also has to File their Return of Income if there is any taxable income.
We provide services to Co-operative Societies and Co-operative Housing Societies such as:
- Maintenance of Books of Accounts as per Income Tax Act,1961.
- Preparation and Filing Income Tax Return.
- Preparation and Filing Tax Deducted at Source (TDS) returns.
- GST Registration for Co-operative societies.
- Filing Returns under GST Act,2017.
MSME (Micro, Small and Medium Enterprises)
Key Highlights of Registering under Micro, Small and Medium Enterprises Act,2006
- Bank Loans are Collateral Free.
- Subsidy on Trademark, Patent etc. Registration. (50% of the expenses are subsidized.)
- Subsidy on Industrial Promotions.
- Protection against Delayed Payments.
- Benefit in Overdraft Interest rate.
We provide Following services in relation to Micro, Small and Medium Enterprises:
- Registration under Micro, Small and Medium Enterprises Development Act,2006.
- Consultation regarding matter related to all recent benefits provided to Micro, Small and Medium Enterprises.
- Consultation regarding matter related to all Loan related benefits as well as charging Interest on supplies made on credit.
We help you in registering under Micro, Small and Medium Enterprises Development Act,2006.
Because while entering data in the registration Form, if misinterpretation of any clause is made and incorrect data is entered then, rectifying the same error is cumbersome task.
So, Avoid Filling up form on your own, unless you are very clear about all the clauses of Registration Form.
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Charitable Trust/Non Profit Organisation (NPO)
Yes, All Charitable Trust need to be registered with applicable Authorities.
Yes, if charitable trust is receiving Donation and issuing certificate under section 80G and also claiming exemption under section 11(2) of Income Tax Act, charitable trust has to mandatorily get registered with Income Tax under section 12A/12AA of Income Tax Act.
Yes, Every Charitable trust which is going to receive Foreign contribution is required to mandatorily register under Foreign Contribution (Regulation) Act,2010.
Provided that, 85% of contributions received by charitable trust are applied for charitable or religious purpose in India and have Filed Return of Income accordingly within due date.
Further provided that the charitable trust which are formed solely for the purpose of Relief of Poor, Education, Yoga, Medical Relief, Preservation of Environment and Monuments or places or objects of Artistic or Historic Interest enjoys full exemption.
Yes, Now all charitable trusts are mandatorily required to Deduct Tax at source (TDS) as per provisions of chapter XVII-B to claim expenses as Application of Income.
So, charitable trusts have to get TAN number and File TDS returns on each quarter and has to deduct TDS and pay the same before 7th Day of following month.
We provide services in best possible way to Charitable Trusts/ Non-profit Organisations
- Maintenance of Books of Accounts for Charitable Trusts/Non-profit organisations as per Income Tax Act
- Application of TAN for Tax deducted at Source (TDS)
- Filing returns Tax deducted at Source (TDS) as per provisions of Chapter-XVII-B.
- Maintenance of Books of Accounts as per Foreign Contribution Regulation Act, 2010.
- Submitting Accounts to Charity Commissioner's Office (in Maharashtra only).
Investment related Services
We provide consultation services in relation to Best possible options suitable to you for various Investments options in India, which will give benefit to you in long run.
We also provide services for Best suitable option according to Tax Planning purpose from Income Tax point of view.
