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.

Credit Link

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. 

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

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.