Accounting Service in Chennai


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online book keeping services No Visit to Office

Currently, We are providing service Accounting Service in Chennai

 

BOOK KEEPING SERVICES IN TALLY


It is generally seen that there is confusion among taxpayers about maintenance of books of accounts under Income Tax Act like who is required compulsorily to maintain the books of accounts and for how many years one has to keep his books of accounts. Section 44AA of Income Tax Act and rule 6F of Income Tax rules deal with the provisions regarding maintenance of books of accounts under Income tax Act. As per section 44AA(1) read with rule 6F the persons carrying on any of the profession as mentioned below are required to maintain books of accounts and other documents as may enable the assessing officer to compute his total income, if yearly gross receipts of the profession exceeded Rs 150000. Proviso to Rule 6F (1) provides that if the gross receipts of a profession do not exceed Rs 150000 in any one of the three years immediately preceding the previous year or where the profession has been newly setup in the previous year, his total gross receipts in the profession for that year are not likely to exceed the said amount, then such professional need not to maintain any books of accounts as mentioned in sub rule 2 of rule 6F.

It means that if the gross receipts of a profession exceed Rs 150000 in all the three years preceding the previous year only then the books of accounts will be required to be maintained, if the gross receipt exceed the prescribed limit in the two preceding years but not in the third preceding year then there will be no need to maintain books of accounts as contemplated in sub rule 2 of rule 6F.

ADVANTAGES OF BOOK KEEPING


Cost-Effective

It is more cost effective when hiring a bookkeeping service than hiring a casual or part time staff to do your bookkeeping.

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Time Effective

A book keeping service has the expertise and know how to look and review your accounts. The bookkeeper should be more flexible and should schedule meetings around the business owner’s busy work schedule and also produce reports and figures.

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Higher Profits

A bookkeeping service puts you in control of your own cash flow, reduces tax liabilities and maximizes profits through management controls also provide a regular reporting service and to keep the processes up to date.

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Peace of Mind

A bookkeeper gives you a piece of mind that a regular reporting system is in place, processes are up to date, you are managing your cash flow, paying invoices on time and catching up on any unpaid invoices. So, the bookkeeper is ensure to do these things for you so that you just have to focus on managing your business.

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Private Limited Company Registration - Statutory Obligations

For all those who have a liability to register themselves, if fails to do the same than under section 75A of the finance act 1994 penalty for the failure of an assessed to get himself registered was fixed at Rs. 500/- as a onetime payment but subsequently this section was deleted by the virtue of the finance act 2004 and now the general penalty that is applicable is Rs. 1000/- as per section 77 of Finance act.

DOCUMENTS REQUIRED


FOR COMPANY

  • PAN
  • Rental Agreement
  • Bank Statement
  • EB receipt
  • Resolution Copy in case of Company

FOR OWNERES

  • PAN
  • Voter ID / Passport/ Driving License / Aadhar Number
  • Photo – 2 Nos
  • ATTESTATION
  • Documents to be attested

REGISTRATION

  • ST-2 will be issued by the department.

HOW LONG DOES IT TAKES?


Step

01

Our expert will collect the documents of sales, purchase, petty cash, day book that need to prepare the financial statements

1 DAY

Step

02

Our expert team will make a day to day entry in software for arriving the profit and loss account and Receivable and payable, etc.

1 DAY

Step

03

Our audit team will analyze the entry made by our expert team. The wrong entry can be removed by the Audit team to get the true report.

1 DAY

Step

04

Once the Audit given approval on the financial statements, the report will be sent to the Company.

1 DAY

Business Plan

Basic

Rs.10,499/-

  • Two DIN
  • Two DSC
  • 1 RUN Form
  • Company Incorpration
  • PAN and TAN

Standard

Rs.11,799/-

    • Two DIN
    • Two DSC
    • 1 Run Form
    • Company Incorpration with
    • GST Registration

Advanced

Rs.14,399/-

  • Two DIN
  • Two DSC
  • Name Approval
  • Company Incorpration with
  • GST/IEC Registration

Frequently Asked Questions

What is a Private Limited Company?
A private limited company is an Artificial Juridical Company. A company is registered with ROC in India.
What is the number of Shareholders required to incorporate a Private Limited Company?
There is a minimum of two shareholders required to start a Private Limited Company and the number can extend maximum from fifty to two hundred beyond which is not permitted.
How many Directors are required in Private Limited Company?
A minimum of two directors are required to establish a private limited company and the maximum amount cannot exceed beyond fifteen.
Can LLP (Limited Liability Partnership) be converted to Private Limited Company?
No, LLP cannot be converted to a Private Limited Company as it is not permissible by the government of India. Both the LLP Act, 2008 and the Companies Act, 2013 are silent about the matter and haven’t done any amendments on the same. However, if you want to expand your business you can register a Private Limited Company with INC-29 which has simplified the process of registration.
Can a Salaried person become the director in Private Limited Company?
Yes, a salaried person becomes the director in private limited company, there are no legal bondages in this, but you have to go through with your employment agreement if it contains any restrictions on doing so.
How long is the company valid for?
Once a Company is incorporated, it will be active and in existence as long as the annual compliances are met with regularly. In case, annual compliances are not complied with, the Company will become a Dormant Company and may be struck off from the register after a period of time. A struck-off Company can be revived for a period of up to 20 years.
What is DSC?
Digital Signature Certificates (DSC) is an electronic format of a certificate that represents the physical form of a certificate. These are specific certificates which give you authority to access information or services on the Internet or to sign legal documents. It works as a prove for the identity of a person example of certificates can be like a driving license, passport or any membership certificates. It’s the same way as the physical documents are signed manually, the electronic documents, like e-forms, are signed by using the Digital Signature Certificate.
What is DIN?
Director identification number is the unique number that is issued to existing Director or a Future Director of a Company. It is required to be submitted during the procedure for company registration. It is denoted as DIN. Often there are crisis situations when a company is created with money raised from the investors and public, then the director along with all the money vanishes which are not traceable if they don’t have a DIN. To avoid such fraudulent cases and maintain a proper record of the company a DIN is necessary.
What is a Stamp Duty?
It is a tax that is demanded on documents. The stamp duty includes majorly the legal documents such as Cheque, military commissions, marriage license, receipts and land transactions. When a physical stamp is attached to the document, it is denoted that, the stamp duty had been paid for the particular document which was effective legally.
Do I need a Chartered Accountant to register my company?
Yes, a chartered accountant is important for a company registration, as it provides general accounting, internal auditing, accounting, outsourcing, income tax advisors, tax planning, etc.
Can a government servant, start his/her own company?
It is a strict No, a government employee cannot run a business or do a part time job and for that matter anything except the designated work in the government.
What is a Share Certificate?
It is a written document which is signed on behalf of a corporation/company to serve as a legal proof of ownership of shares/stock that the company indicates to have. It is also termed as Stock Certificate.
When to appoint a CA/CS in company?
Every company having a paid-up capital of Rs. 5 crore needs to have a whole time CS official as per the new amendment in the Company Act.

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