People form the basic foundation of any organization. No organization can function without people. The employees work with all their sincerity to fulfill their respective roles which collectively contribute to the growth of an organization. However, for the smooth functioning of a company, it also needs to have in place proper norms and regulations, and these regulations should also be relevant to, and in fact, largely govern, the company’s interactions with its employees and its finances. This is what comprises statutory compliance. There are many statutory compliance services in Mumbai ..read more

Income tax is a complex subject. It is something that most earning individuals have to deal with in their lifetime. Yet many of them struggle with the concept and the procedure of it. There are several taxation services in Mumbai to help you with it. Knowing the right amount to pay for a financial. A year can be a complicated calculation for most taxpayers. If you too are one of them, then this article is for you. Here you will find a definitive guideline on the matter to help you out. Things to know about payment of tax There are certain things that you need to follow without fault to de ..read more

The end of every financial year is accompanied by widespread panic among the masses regarding their tax filings. Whether you are an employed individual or run a company of your own, keeping track of your finances is not a mean feat. Recently, accounting outsourcing companies in Mumbai have gained immense popularity. Such firms can help you stay up-to-date with your financial records and file your taxes on time. Essentially, outsourcing refers to availing of the services of a third-party service provider. So, this is quite different from employing a full-time accountant within your company. Ins ..read more

Maintaining accurate financial transactions in a streamlined and organized way is essential for the smooth and efficient functioning of the business. It reduces risk, optimizes utilization of the resource, as well as maximizes profit. Accounting plays a pivotal role in business, tracking income and expenditure, and complying with statutory regulations. It also provides crucial information to investors, management, and government bodies to take prudent and judicious business decisions. There are three primary financial statements from where vital information is derived: The income statement pr ..read more

The govt. is keen on catching the GST evading business and entities, as is evident from the latest developments. The Legal provisions on GST are being made more stringent and evasion proof for this. The GST authorities are now going to obtain the bank account details belonging to the brands and entities to check their tax returns and filings better. This will help them figure out the tax evaders and those who are tampering with the loopholes in the system. The Union government wants to plug revenue leakages of the state as well as central GST. A national-level conference will be held on 7th Ja ..read more

TDS stands for Tax Deduction at the source. As per the Income Tax Act, the employer or the company has to deduct tax at source while making the payment, if it exceeds the threshold limit. The reduction is made based on the rates set by the tax department. By the end of the financial year, employees are asked to present the ‘Income Tax Declaration’ which includes the details of the expenses, investments, and liabilities incurred during the financial. In some cases, TDS deducted by the payer is more than the liability, this is when the payer has to file for a refund i.e. by filing Income Tax Ret ..read more

When you run a business, you treat it like your own baby. You nurture it to grow and expand over the years for a brighter future. It is the beginning of setting your business, your entire focus is on bringing it to life by dedicating your focus and knowledge. But have you ever imagined or observed red flags in your business due to accounting? We understand finance and accounting can be confusing due to innumerable changes in the policies and regulations and it is difficult to keep a tap on these unexpected alterations. This is when it becomes important to look out for help and advice from the ..read more

Month-ends are a matter of headache for almost everybody. Irrespective of whether you are a working professional or own a business of your own, the end of every month throws a lot of challenges. When it comes to effectively handling the financial aspect of a month-end, you can hire the best accounting services in Mumbai to ensure that your money is managed properly. Having clarity about the various financial procedures, filing of returns and taxes, and maintaining proper records of all financial transactions is imperative to having a smooth month-end. So, if you want to ensure that y ..read more

Despite having a thriving business, countless entrepreneurs look for things they can do with their team. Now, when you wish to expand your team’s productivity, then you require to consider as well as analyze the current condition. When the shared organizations have strategic services, then it becomes possible to handle statutory reporting, month-end closings, regulatory compliance, or tax compliance in an incredibly laid-back manner. The benefits that you can avail yourself by shifting to shared account services are: Overcome the constraints of the budget – The shared services model could aid ..read more

From processing payroll, as well as tax reports to consolidating the input of payroll and meeting legal compliances and related filings, the responsible Accounting Outsourcing Companies in Mumbai can handle everything efficiently and accurately. What should we opt for? Bookkeeping helps to manage the financial transactions of a given business. On the other hand, having a competent accounting service to your aid would make sure that the classifying, reporting, interpreting, and analyzing of the financial data of a business is executed smoothly. It might seem on the surface that such activitie ..read more