Income Tax Return Filings

All businesses operating in India are required to file income tax return each year. In addition to filing income tax return, a business may also be required to file TDS return and pay advance tax to stay compliant under the Income Tax Act. Chaludiya & Co. is India’s largest tax services platform offering a range of services like incorporation, GST return filing, income tax filing and more. Chaludiya & Co. can help file income tax return for your business and ensure it remains compliant under the Income Tax Act and Rules. The average time taken to file an income tax return for your business is 3 to 5 working days. Get a free consultation on business tax return filing by scheduling an appointment with an Chaludiya & Co. Advisor.

GST Registration & Advisory

GST is the biggest tax reform in India, tremendously improving ease of doing business and increasing the taxpayer base in India by bringing in millions of small businesses in India. By abolishing and subsuming multiple taxes into a single system, tax complexities would be reduced while tax base is increased substantially. Under the new GST regime, all entities involved in buying or selling goods or providing services or both are required to register for GST. Entities without GST registration would not be allowed to collect GST from a customer or claim input tax credit of GST paid or could be penalised. Further, registration under GST is mandatory once an entity crosses the minimum threshold turnover of starts a new business that is expected to cross the prescribed turnover.

As per the GST Council, entities in special category states with an annual turnover of Rs.10 lakhs and above would be required to register under GST. All other entities in rest of India would be required to register for GST if annual turnover exceeds Rs.20 lakhs. There are also various other criteria’s, that could make an entity liable for obtaining GST registration – irrespective of annual sales turnover. Entities required to register for GST as per regulations must file for GST application within 30 days from the date on which the entity became liable for registration under GST.

Chaludiya & Co. is the leading business services platform in India, offering a variety of services like income tax filing, GST return filing, private limited company registration, trademark filing and more. Chaludiya & Co. can help you obtain GST registration in India and maintain GST compliance through a proprietary GST accounting software. The average time taken to obtain GST Certificate is about 5 – 10 working days, subject to government processing time and client document submission. Get a free consultation on GST and GST return filing by scheduling an appointment with an Chaludiya & Co. Advisor.

GST Filings

A GST Return is a document that is required to be filed as per the law with the tax authorities. Under the GST law, a taxpayer has to submit three returns on a monthly basis and one such return annually. All returns have to be filed online. Please note that there is no provision for revising the returns. All invoices of the previous tax period that went unreported must be included in the current month.

GSTR-1
Contains details of the outward supplies; has to be filed by 10th of every month.

GSTR-2
Contains details of inward supplies; due by the 15th of each month;

GSTR-3B
This is the monthly return and is due by the 20th of every month.

In addition to the monthly and quarterly returns, there is an annual return that needs to be filed by December 31. A requisite GST reconciliation statement has to be duly filed by the appointed chartered accountant.

Annual Filings & Book Keeping

Bookkeeping services are a must for all businesses to ensure timely and accurate operational / financial information is provided to the Management, Regulators and Investors. Also, it is a legal requirement for any business to maintain proper book of accounts to ensure that all relevant taxes are paid and tax filings are made on time. Hence, bookkeeping is an important function in any business or not-for-profit organization in India.

Bookkeeping is the process of recording financial transactions of a business in an accounting system and the creation of reports consolidating the accounting data entered into the system. Bookkeeping is a function of the accounting department in a business. However, many small businesses do not have fully fledged accounting departments and require external bookkeeping services. Chaludiya & Co. can help your business maintain its books through a network of Chartered Accountants and Business Experts across India. Talk to an Chaludiya & Co. Advisor to get quotes for bookkeeping services for your business today.

PAN Card (Individual, HUF & Comapny)

The Permanent Account Number (PAN) card, issued by the Income tax Department, is one of the most important documents nowadays. The card was issued in order to prevent tax evasion by individuals and entities as it links all financial transactions made by a particular individual or entity.