Thursday 10 November 2016
Wednesday 16 December 2015
Chartered Accountant Firms Execute Different Responsibilities in a Company
For
any business, company or organization (big, medium or small) hiring one of the
proficient Chartered Accountant Firms in Pune can greatly help in
monitoring as well as keeping track of all financial matters. Insurance
companies, financial and banking sectors and Industries recommend hiring a tax
accountant as well. Chartered Accountants firms can be a good guide in
maintaining every day records and prove facilitative in analyzing decisions and
the shortcomings of the business.
Moreover,
bookkeeping, updating of records as well as tax preparation are some areas that
really need professional intervention by professionals such as Chartered
accountants. Besides, organizations become more transparent. If you are running
a business, then you must know that how badly maintained records and incorrect
reports can impact on the business as well as incur huge losses to your
company. But, these aspects can be monitored suitably with professional
financial management. A business person can then focus on developing core areas
of the business rather than being preoccupied by financial matters.
Corporate Tax, Individual Tax as
well as tax planning for self-employed individuals are
some of the most important parts of tax management that a Chartered Accountant
firm handles. Besides, corporate accounting involves people who are dealing
with business activities in corporations, for example, financial and
operational audits, credit services treasury services and so on. Additionally,
accounting stands for the section of a corporation, which is accountable for
maintaining balance between other core areas of the
company.
Taxation related activities are very
boring or tiresome, and can involve a big amount of
paperwork to keep track of different taxes (mentioned above paragraph), which
the business is likely to pay. Also, most of the business persons are not aware
of tax preparation as a result, they need the help of CA
firms that specializes in dealing with financial matters. Also, tax laws are
ever changing and evolving and make it hard to keep track of when running and
managing a business.
Whatever
type of CA firm you go for always ask for references, and better still, get a
personal advice, and check that the service company has professional indemnity
insurance. Prior you officially engage the CA discusses what level of service
you need and what your budget is. Also, if you are at all obsessed about
unpredicted bills, then look for a fixed- price accountancy arrangement so that
you know exactly how much you will be paying at the start.
Tuesday 31 March 2015
Why Hire A Chartered Accountant Firms Pune India
Today, there is a very much
need to skilled and qualified chartered accountants (CA’s) in the market to
help businesses and organizations in setting up as well as managing their
business accounts. In addition, there are plenty of professional Chartered Accountant Firms in Pune that
are specializing in accountancy services for all types of businesses at
present. These CA service companies provide guidance as well as provide
valuable advices to businesses such as how they should take benefits of the
changing as well as the existing business environment.
Such firms assist businesses in dealing with the high-minded
burden of legal complexities that businesses meet every day.
Chartered accountants (CA’s)
are professionally skilled and trained in accounting
with the best of management expertise to make sure a transparent set of
accounts for the businesses they service. Besides, cost effective services by
CA’s include a thorough accountancy process along with specialized and qualified
business consultancy services to assist the business with
its financial needs with expectations to fulfill the financial legislation in
the state. Expert accountancy services cover a broad range of scope for any
business enterprise in spite of its industry and size. However, a new business
can enjoy professional accountancy services, range from setting up a suitable
accounts system for submitting the company’s tax reports
effectively.
Skilled and professional CA firms in Pune can provide their
business financial setup with management and consulting services on a monthly,
quarterly or yearly basis to assist companies / organization enjoy a trouble
free accounting and reporting system. These services offer a wide range of services,
including Audit and Assurance Advisory Services, Taxation and arbitrage
services, Corporate Law and Secretarial Services, Management Assurance Services
and many more other services. Some of the significant accountancy services
offered by the firm are:
- Preparing financial statements according to Companies Law.
- Analyzing cash flow statements with keeping the record of general ledger.
- To compile month or year based closings.
NRI services, Secretarial
services, Entrepreneurial service, Accounts services, etc are a few of the other
services provided by the chartered accountant firms. The range of services is
impressive as well as is very beneficial for any corporate clients or
individual. In addition, a CA will be one of the prime sources of information
to assist you understand your business profitability as well as he will be able
to advise you on many important financial issues like your net and gross profit, overheads and
staffing costs. Remember, having latest accurate information on incomings and
outgoings is a vital part of planning for your business future.
Wednesday 25 March 2015
Budget 2015 Synopsis
Limit of deduction of health
insurance premium increased from Rs 15,000 to Rs 25,000; for senior citizens,
limit increased from Rs 20,000 to Rs 30,000
•Limit on deduction on account
of contribution to a pension fund and the new pension scheme increased from Rs
1,00,000 (One Lakh) to Rs 1,50,000 (One Lakh Fifty Thousand).
•Additional deduction of Rs
50,000 for contribution to the new pension scheme (NPS) u/s 80CCD.
•Transport allowance exemption
increased from Rs. 800 p.m. to Rs. 1,600 p.m.
•Payment to the beneficiaries
including interest payment on deposit in Sukanya Samriddhi Scheme (SSS) to be
fully exempt.
•Wealth-tax replaced with
additional surcharge of 2 per cent on super rich with a taxable income of over
Rs 1 crore annually
•Donation made to National Fund
for Control of Drug Abuse (NFCDA) to be eligible for 100% deduction u/s 80G of
Income-tax Act.
•Proposal to reduce corporate
tax from 30% to 25% over the next four years, starting from next financial
year.
•General Anti Avoidance Rule
(GAAR) to be deferred by two years. GAAR to apply to investments made on or
after 01.04.2017, when implemented.
•Positive. The
increase in the limit of deduction of health premium, increased transport
allowance exemption, the additional deduction allowed for contribution to the
NPS, the payments made under the SSS being exempted and the donations made to
NFCDA to be eligible
•The finance minister has
proposed to allow tax pass-through for alternate investment funds.
•Rationalisation of capital
gains regime for the sponsors exiting at the time of listing of the units of
REITs and InvITs. The rental income arising from real estate assets directly
held by the REIT is also proposed to be allowed to pass through and to be taxed
in the hands of the unit holders of the REIT.
•The distinction between
foreign portfolio investments and foreign direct investments has been done away
with and replaced with composite caps.
•The finance minister has
allowed foreign investments in Alternate Investment Funds
•Forward Markets Commission to
be merged with SEBI to strengthen regulation of commodity forward markets and
reduce wild speculation.
•The government will introduce
Gold Monetization Scheme, Sovereign Gold Bonds and gold coins with Ashok Chakra
to cut demand for gold coins from overseas.
•Service tax plus education
cess increased from 12.36% to 14% to facilitate transition to GST
•Generation of black money and
its concealment to be dealt with effectively and forcefully.
•Bill for a comprehensive new
law to deal with black money parked abroad to be introduced in the current
session.
•Benami Transactions
(Prohibition) Bill to curb domestic black money to be introduced in the current
session of Parliament.
For more information about latest Budget 2015 you can see here- http://www.thehindu.com/business/budget/budget-2015-key-highlights-for-middle-class-taxpayers/article6944941.ece#comments
Sunday 22 March 2015
Top 3 Reasons To Hire Chartered Accountants
Chartered
accountants (CA’s) refer to skilled and knowledgeable persons who can solve
your financial issues very easily in quick time. Additionally, CA’s can be your
best allies, who take care of your books, tax filings or liabilities in order
that you can completely utilize your energy and time to focus on your core
business activities / tasks. Chartered accountants work not just during the tax
sessions, but all year around, and proficient CA’s aid in making a long-lasting
relationship with the company’s clients. Here are the
top three reasons to hire a Chartered Accountant.
- Get Financial Audit
Financial
Audit happens every year in the life cycle of a company of an organization,
company or business. However, every Chartered Accountant Firm in Pune acts like
a third person who will look at the financial records of the company as well as
send out their chartered accountants who will scan these records for their
authenticity and for legal purposes too. In addition, Chartered Accountant of
the CA' company examines the records held by the
organization, physically inspect the tangible assets as well as visit the
various plants, factories or other set ups of the organization. It is most beneficial to our business to hire a
Chartered Accountant Firms or a Audit Firm in Pune, India
is so because it allows you and your employees to concentrate more on core
business issues, and all your accounting and audit tasks will be done by the
audit company enable a boon to your business.
The
Chartered Accountant Firms in Pune prepare financial reports at the end of
the audit, and this report includes are profit and loss
statements and balance sheets with income statements. Remember, this report is
very important for stock holders and shareholders to buy shares in the company.
- Get Financial Advice
Most
of the small businesses and companies will need to
borrow money in the future, moreover when they are looking to expand their
business. Borrowing from banks or any financial institution may not be possible
due to the present economic scenario. A CA will be able to recommend plenty of
alternative choices, but all the borrowing options have their advantages and
disadvantages, and being able to draw on your CA’s expertise will help you
decide on the most suitable financing for you. Using an experienced CA to help
you plan as well as set up your business is a sensible investment that will
surely reap dividends for many years to come.
- Get Recover Your Business
When
your business is down or when the financial standing of your company is very
poor, then you must hire a Chartered Accountant as he /she can provide you great
strategies to pull-up your business as well as to boost its standings. Remember,
these poor standing could be due to some of the internal policies of your company
or because of some external factors. No matter what are the reasons, the Chartered
Accountant will study this broadly from a financial viewpoint as well as be
able to assess in a way that is not possible by your management of any other.
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