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Compliance services

Statutory Registrations

1. GST Registration and Compliances
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 penalized. 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. We can help you obtain GST registration in India and maintain GST compliance.
2. PF Registration and Compliances
Employees Provident Fund Scheme (EPF) is a social security scheme under The Employees’ Provident Funds and Miscellaneous Provisions Act, 1952. It is managed under the aegis of Employees' Provident Fund Organization (EPFO). It covers every establishment in which 20 or more persons are employed and certain organizations are covered, subject to certain conditions and exemptions even if they employ less than 20 persons each. We have expertise in getting the Registration process done and manage end-to-end compliance.
3. ESI Registration and Compliances
Employee's State Insurance (ESI) is a self-financing social security and health insurance scheme for Indian workers. This fund is managed by the ESI Corporation (ESI) according to rules and regulations stipulated therein the ESI Act 1948, which oversees the provision of medical and cash benefits to the employees and their family through its large network of branch offices, dispensaries and hospitals throughout India. ESI is an autonomous corporation under Ministry of Labour and Employment, Government of India. But most of the dispensaries and hospitals are run by concerned state governments. We have expertise in getting the Registration process done and manage end-to-end compliance.
4. Gratuity Trust Formation
Under Section 4A of the Payment of Gratuity Act, 1972 gratuity amount is required to be insured by the employers. In this contest, Life Insurance Corporation (LIC) of India has floated a policy for insurance of gratuity to the Employees of the organization. Under the above, a trust is required to be established by the employer for the purposes of managing the gratuity funds. Trust will create a fund with the LIC against payment of gratuity. Contribution towards the fund is generally intimated by LIC to trust on annual basis. We have the expertise in managing overall function for managing gratuity trust.
5. Professional Tax Registration & Compliances
Professional Tax is a tax levied on professions and trades in India. It is a state-level tax and has to be compulsorily paid by every member of staff employed in private companies. The owner of a business is responsible to deduct professional tax from the salaries of his employees and pay the amount so collected to the appropriate commercial department. Professional tax is usually a slab-amount based on the gross income of the professional. It is deducted from his income every month. Some of the state governments that have levied professional tax are Karnataka, West Bengal, Andhra Pradesh, Maharashtra, Tamil Nadu, Gujarat, Assam, Chhattisgarh, Kerala, Meghalaya, Orissa, Tripura and Madhya Pradesh. In case of salaried employees and wage earners, Employer is liable to deduct professional tax with the State Government. In case of other class of Individuals, this tax is liable to be paid by the person himself. We have expertise in carrying out end to end function with regard to Professional Tax compliances which includes the following:
  • Registration with various State Commercial Department
  • Generation and remittance of contribution
  • Carrying out functions related to assessment etc.
6. Shops & Establishment Registration
The Shop and Establishment Act has been enacted by various State Governments to regulate the conditions of work of employees in shops, commercial undertakings, restaurants, etc. All commercial establishments must abide by The Weekly Holiday Act, 1942 enacted by the Central Government which governs the grant of holidays. However, there is no specific Central Government Act which comprehensively governs hours of work, payment of wages, health and safety in commercial establishments. To bridge this gap, State Governments have enacted a Shop and Establishment Act to help regulate the conduct of commercial establishments within their jurisdiction. We have wide network all over India and facilitate in getting Registrations done at all State Level through our chain of resident as well as associate partners.

Secretarial Compliance

It is Compliance of various applicable laws under Companies Act or any other Act, Rules, Regulation and Procedure. Secretarial Audit is helpful to the Promoters, Independent & Non-Independent Directors, Government Authorities & Regulators, Investors, stakeholders, Creditors and Management of the company. The main focus of stakeholder is to validate statutory compliance of the company, good governance & evaluate performance of the company. The Secretarial Audit helps to find out or detect any non-compliance made by the company and taking corrective steps (measures) for that the same. It is one of the important tool of risk mitigation and allow companies to effectively address compliance risk issue. It is also helpful to the company to build their corporate image. It may be carried out quarterly, half yearly or annually and in case of any adverse finding in audit report immediately intimated to the board of directors. We carry out the following compliances under Secretarial Compliance function:

1. Fixed Assets Register:
The main purpose of a fixed asset register is to keep track of the book value of the assets and determine depreciation to be calculated and recorded for management and taxation purposes. A secondary purpose is to allow for the easy identification of an asset by assigning each asset a unique ID which may be printed on labels in the form of a barcode. We ensure that the Register is processed in more scientific manner.
2. Statutory Registers:
Every entity must maintain certain records about the company's directors, shareholders and meetings held. These records are known as the Statutory Register and are in addition to normal accounting records which a company is also required to be kept. We ensures that all the Statutory Registers are prepared by abiding with the required legislation.
3. Minute Book:
Minutes are the written record of any official and influential gathering of a Company. It basically records important meetings like Board meetings and other influential events. We assist you in creating the minute so that you can comply as per the required Legislation.

E-assessment and Tax Returns

We, AKSK , provide a comprehensive range of taxation services for our clients. With over 6 Years of experience, we are entrusted towards providing quality service to our valuable clients. We offer comprehensive range of Tax advisory services that deliver true value which includes the following:

  • Individual and Corporate Returns
  • Scrutiny Assessment under Section 143(3)
  • E-assessment cases under Section 148 - Appeal Cases

Tax Compliances

1. TDS
As per the Income Tax Act, any company or person making a payment is required to deduct tax at source if the payment exceeds certain threshold limits. TDS has to be deducted at the rates as prescribed under the Legislation. We are providing TDS related services to various MNCs clients. Certain functions carried out by us under TDS service are as under:
  • Identifying and calculating TDS on contractors/employees payment according to the Income Tax Act
  • TDS Return, Revised Return & issuing of Form 16/16A
  • TDS assessment cases
2.GST
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 penalized. 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.
We can help you obtain GST registration in India and maintain GST compliance.
3. Income Tax
We, AKSK , provide a comprehensive range of taxation services for our clients. With over 6 Years of experience, we are entrusted towards providing quality service to our valuable clients. We offer comprehensive range of Tax advisory services that deliver true value which includes the following:
  • Individual and Corporate Returns
  • Scrutiny Assessment under Section 143(3)
  • E-assessment cases under Section 148 - Appeal Cases
 
 
 
 
 
 
     
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