Cloud Based Accounting Support & Service
Accounting is the backbone of any business, our accountants are experienced and well qualified to take care of your requirements. We offer custom made plans for startups and also train the promoters/directors on cloud based accounting platforms.
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Outsource Your Accounting
Accounting is an art of recording transactions of financial nature on day to day basis on a chronological basis; every business must prepare and maintain an up to date books of accounts, which is a requirement of law as well as modern-day necessity to comply with tax laws. The size of the business does not matter, and the legal compliances are applicable in the same manner to all. The payment of advance taxes, TDS and GST is based on the proper accounting of the business. Our services of outsourced accounting are unique and designed in a way so that you get more time to do your business and not the accounting of the business you own. Our accountants are well trained and supervised by the well experienced and professional team so that we deliver you accurate and tax efficient accounting for your enterprise.
Key Point on Accounting of Your Business
Book of Account is to be maintained at Registered Office of the company or LLP. Almost similar provision is in section 34 of the LLP Act, 2008 concerning LLP.
Legal Provision
Section 128 of the Companies Act, 2013 requires that every company shall prepare and maintain its books of account and other relevant books and papers and financial statements for every financial year, which give a true and fair view of the state of the affair of the company. Almost similar provision is in section 34 of the LLP Act, 2008 concerning LLP
Books to be preserved for 8 Year
A company or an LLP is required to preserve the books of accounts, relevant papers, vouchers and other accounting records, bank statement, invoices, registers etc. until eight years. And in case there is any legal proceeding concerning accounts or tax then records to be preserved until the conclusion of such proceeding.
Punishment for Non-compliance
For any non-compliance of Section 128 of the Companies Act, there is an imprisonment for a term which may extend to one year or with fine which shall not be less than Rs. 50,000/-, but which may extend to Rs.5 lakh or with both. In case of LLP, the penalty for contravention of section 34 is Rs. 25 thousand to 5 lac payable by LLP and for designated partner it is Rs. 10 thousand to 1 lac
Place of Maintaining Account
Book of Account is to be maintained at Registered Office of the company or LLP. The board of directors may decide to keep and maintained the books of account at any other place in India. However, such a decision must be intimated to the ROC in Form No. AOC 5 within seven days. in case of LLP, the books must be maintained at the registered office of the LLP
Responsible Person
The primary responsibility for maintaining the books of account is on the Board of Director of the company or the designated partners in case of LLP. However, in case of non-compliance of law, the Managing Director, the whole time director in charge of finance, the Chief Financial Officer of the company and in case of LLP the designated partners are held responsible.
Finalisation of Accounts & Audit
At the end of the financial year, final accounts need to be prepared which results in the profit and loss account and the balance sheet for the fiscal year. The books of account need to signed by two director or designated partners. In case of companies the books must be audited by the statutory auditors of the company and in case of LLP audit is required when turnover crosses 40 Lac
Correct Method of Doing Tax Compliance in India
Do Accounting
Approve the Tax Working
Pay tax on time
File Return of TDS and GST
Documents Necessary for Accounting & Tax Compliance
- Invoices/Bills raised during the month.
- Purchase Bills or Invoices of Services availed.
- Sale or Purchase Returns.
- Debit and Credit Notes.
- Detailed Statement of all Bank Accounts.
- Cash Book with vouchers and evidence.
- Any other information of financial nature.
Well, do you have questions? Let us know, we shall revert back with a solution.
Smooth Service Delivery by Shah Consultancy Service
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Why Shah Consultancy Service
ONLINE SERVICE
We deliver fast and reliable services, mostly in an online environment. No need to necessarily visit our offices and documents can be shared online to us (Through Client Portal )
TRANSPARENT PRICING
We practice transparent pricing for all our services and we separate the cost into three categories, our professional fee, government fee, and GST. No Hidden Cost
FREE CONSULTATION
We offer no obligation & truly free consultation services across our office all over India to the startups. And for new startups, we file GST Returns free for six months
EXPERIENCED TEAM
For the past 14 Years, we are servicing many startups and enterprises of all size and scale, throughout India. Our clients come from various background, mostly tech startups
VAST POOL OF PROFESSIONALS
We are an organized team of experienced CA, CS, and Lawyers, duly supported by a pool of trained accountants and paralegal staff spread all over India, to provide quality services.
CUSTOMER SUPPORT
We have a dedicated support portal where you will find help articles and resources. You would also be able to create support tickets and track their progress online.
Our Most Popular Services
Company Registration
Start your business as a Private Limited Company within a week, all you need is at least two person to its shareholder and director. There is no specific requirement as to capital of the company.
Trademark Registration
The real protection to your business name, its brands and logo are achieved when it is applied as a trademark. The unique trademarks which are not the same and similar to any other trademark get registered fast.
LLP Registration
The LLP is an advancement over traditional partnership form of business, In fact, it is a feature mix of simplicity from the partnership and the limited liability to its partners as in case of companies.
Section 8 Company Registration
The social activities can be undertaken as a company by incorporating a section-8 company, which is regarded as a better option in comparison to traditional forms like society and trust by the donors and other stakeholders.
Foreign Direct Investment (FDI)
India is open to Foreign Direct Investment under automatic route to most of the sectors, however, there is a mandatory reporting requirement to RBI through AD, post receipt of the foreign capital.
GST Registration
GST Registration is mandatory for every business engaged in providing services or supply of goods, where the turnover exceeds Rs. 20 Lac or does even a single transaction in an interstate trade.
