Mahaveer Singhvi and Associates- Transparent Audit Services

Finance management provides the security to any business. Investment of money into the right track is necessary to run it smoothly. To ensure this, a company must rely on the audit report. An audit is the official financial inspection of every money-related issue occurring in the business. Mahaveer Singhvi and Associates-CA provides this audit service to both corporate houses and booming businesses.

Inauguration and details: - Serving in Mysore, Karnataka for several years, this company values their customers. They are not limited to only audit services. There are much more on the list.

Auditing Services- The account records plays the key role in any organization to keep the track of money. These audit services are applicable to hospitals, educational institutes, and charitable organizations. Statutory audit including partnership, trusts, and cooperative societies are their main domain. Departmental audits including purchase, Hr, and systems audit are provided by them. Banking sectors where record keeping of every account is crucial get service too. Company and audits are done in compliance with 2013 rules. Advice regarding money management and savings are their field of excellence. Tax audit, as stated in 1961 income tax rules is performed according to it.

Direct and Indirect taxation services- Proper planning regarding tax, presentation to authorities, clearing up the right amount, all comes under the legal procedure. Seizure of any property and E-tds returns are handled smoothly. Apart from all these direct taxations, indirect taxation includes registration under customs, central import/export, central excise, and Vat. Administration of all the services comes under the suggestion of legalization.

Management and consultancy services- The fundamental service includes payroll accounting, management of core investment and stock maintenance. Fund maintenance and profit are secured with updated records. Market trends analysis and investment according to it are suggested by their experienced employers. Proper annual financial budget preparation is their masterstroke.

Miscellaneous services- Budding company registration, compliance and project preparation are their field.

Trust issues: - Every entrepreneur or businessman is always in search of trusted partners in case of finance. This company has a motto to serve their customers with full responsibility. They provide honesty to each of their services. As they give priority to every financial issue in details, management suggestion becomes worth a try. The combination of honesty and responsibility is rare to find in the market.

Whether audit services are needed or not becomes a doubt when everything is stable. At the time of recession or loss, audit becomes the crucial necessity. Transparency and experience at that time become everyone's priority. Mahaveer Singhvi and Associates- http://www.ca-msa.com/ can be the most trustable savior. The management capability and suggestions of market trends can give oxygen to any company to ensure its security and growth.

 

The ultimate destination for the Management and Consultancy Services

Running an effective and profitable firm, in this modern world is not a child's play. It involves numerous aspects in order to attain success; otherwise, the ultimate loser would be the entrepreneur. So, that one must be very conscious of each and every aspect, which are to be considered.  Nook and corner of it must be taken into consideration and must be sorted out, or it may end in a mess.

The major part in running the firm goes to the financial section, which is like the backbone for the company. So, higher attention must be given to it, in every possible way. So here, it can't be done by you, and some assistance is needed, by a group of experienced professionals, which can be highly useful in many ways. So, that you can hire a service which can give you management and consultancy assistance, whenever there a problem or an issue arise. In a cheaper amount of money, your problem can be solved easily, without any tension.

Services covered:

·        Payroll accounting

·        Annual financial budgets preparation

·        Preparation of financial statements

·        Analyzing profit, loss, gain and much more

So, when you are at the doorstep of these kinds of services, wholly all your problems are thoroughly analyzed, with a set of highly qualified personnel and then, proper measures are taken efficiently. First of all, the needs and requirements of the customers are assessed properly. Then according to them, the services are rendered in the possible way which could actually please and satisfy them to the fullest.

Careful measures:

The company's trends are analyzed too, and according to it, the needed things are taken into consideration and that is discussed with the firm owner. They also provide an idea of the best mode of business for the owner, which can actually include proprietorship, partnership and much more. When this comes to the talk, this aspect is very much important, because only depending on this, the profit of the company is decided. If the company joins with a wrong hand, then the whole thing highly affects the company, its customers, its employees and many more. So carefully, these measures have to be taken, in such a way, that doesn't affect anyone. So, just with a single approach, at http://www.ca-msa.com, all your needs are rightly fulfilled so at to attain profit.

Understanding indirect taxation and its consequences

Let’s face it. None of us are really good in understanding indirect taxation. We tend to go all awry and confused when we face such financial issues. And we tend to ignore it till the last moment when we have no clue how the entire system works and it becomes nothing short of rigmarole. Thankfully for our benefit, there are companies like Mahaveer and Singhvi Associates- http://www.ca-msa.com/ which possess a talented and trustworthy team of competent accountants who will be able to calculate and help you pay the right taxes.

The entire plethora of indirect taxation is basically the associated taxes you pay for goods and services availing in your country. They include GST, service tax, And Sales tax etc. Another common colloquial term for the indirect taxes is “sin taxes”, as the government earns most of their funds in this way by taking and charging taxes on their comfort.

1.    Indirect tax is usually levied on the seller but then it can be recovered from the person buying goods as well.

2.    One of the best examples of indirect tax is GST. By adding and combining all the taxes available we can easily now get an aggregate total tax for the services awe avail or the products we buy. Rather than having to scratch your head over the different percentages and different types of taxes that can occur, you pay one consolidated tax.

3.    Excise duty tax is levied on specific products which are manufactured in India. Though recently it has all come under GST, but usually a different tax was levied and had to be managed.

4.    Another different type of indirect tax is STT. The Securities Transaction Tax is usually applied for products being levied on shares and other products bought through the stock exchanges. It will help you from losing money as tax from short term gains and rather utilise it for long term gains.

5.    Stamp duty tax or entertainment tax is levied on different modes and forms on entertainment that is available all through the country. Whether it is your favorite concert or a weekend trip to the entertainment park, this is the tax you must pay.

And if this still looks confusing, You should definitely contact the company mentioned above for swifter resolution of your taxes. So don’t hesitate! If you need their help, go ahead and live a hassle free life. In peace!

The taxpayers behind the curtains- Direct and indirect taxation

Direct Tax

The tax levied on a person’s income and wealth which is paid directly to the government is known as a direct tax.

The tax is progressive in nature i.e. it increases with an increase in the income or wealth and vice versa. It is levied according to the paying capacity of a particular person, that is, the amount of tax collected from the rich people is lesser compared to the amount of tax collected from the poor people.

There are several types of Direct Taxes, such as:

·         Income Tax

·         Wealth Tax

·         Property Tax

·         Corporate Tax

·         Import and Export Duties

Indirect Tax

Indirect Tax can be described as tax charged on a person or persons who consume services and goods and is paid indirectly to the government. There are several types of Indirect Taxes, such as:

·         Central Sales Tax

·         VAT (Value Added Tax)

·         Service Tax

·         STT (Security Transaction Tax)

·         Excise Duty

·         Custom Duty

Income Tax

Taxable income refers to total income minus applicable deductions and exemptions. If the taxable amount is above the minimum taxable limit, then tax is payable and is paid as per the different rates that have been announced for each tax slab for that particular financial year.

Corporation Tax

Corporation Tax is paid by companies and businesses on the income earned worldwide in a given financial year.

Wealth Tax

It is taxed at the rate of 1% of the net wealth.

Capital Gains Tax

Capital Gains Tax is usually taxed at two different rates based upon how long the property was owned by the taxpayer. Evidently, Capital Gains Tax is of two types-

·        Short Term Capital Gains Tax

·        Long-Term Capital Gains Tax

Indirect Taxes-

Sales Tax

This kind of tax is charged for the movable goods.

Service Tax

Service tax is applicable to all services provided in India except a specified negative list of services that are exempt. The service provider pays it to the government who in turn collects it from the end user by the provider at the time of provision of the said service.

Mahaveer Singhvi & Associates is a Chartered Accountant's firm. They provide extensive professional services in the areas of Advisory Services, Auditing, Taxation, and Management & Consultancy Services. Find more about them here at http://www.ca-msa.com/

World class auditing services

An audit is a term which refers to an objective examination and evaluation of the financial statements of an organization. This is basically done to make sure that the records correct and accurately represents the transactions which the organization claims. It can either be done internally by employees of the organization or externally by an outside firm.

Again, there are several categories of audits performed some of which are - income audit, system audit, safety audit, compliance audit, etc. However, they are broadly categorised as External Audit and Internal Audit. While the latter focuses on the procedures to ensure that the financial statements of the company are not materially misstated, the Internal Audit looks beyond numbers and focuses on processes, regulations, compliance etc. 

There can arise a condition that, the internal audit function can arguably be called an external audit. But, it is the nature of the internal audit which is to estimate the internal affairs of the company that can easily make a difference. This Internal Audit functionality can only be present in a large organization that has been listed on Stock Exchange and has to include Corporate Governance in its report so that there can be a clear difference. Otherwise, its reporting can easily be same as that of External audit reports. In External Audit reports, the sole purpose is to make the stakeholders aware of the actual financial condition of the company.

An audit firm is one which assesses a company's financial information and determines if the information is accurate and complete. The main work of an audit firm is to provide an accurate and fair figure of the actual financial standing of the company and also to evaluate the different department with the only aim of improved efficiency.

The functionalities of an Audit firm can be listed as:

●     Auditing services: The auditing services can categorically be classified into Statutory Audit, Internal Audit, Tax Audit, Cost Audit etc.

●   Corporate Governance: The corporate governance can be termed as balancing the interests of the many stakeholders in a company which includes shareholders, management, customers, suppliers, financiers, government and the community.

●     Risk Management Services: Auditing firms also undertake risk management services.

Mahaveer Singhvi and associates is a chartered accountant firm to render comprehensive professional services in the field of auditing and taxation with its office situated in Kalaburgi and Mysore. All the other information about the firm can be gathered from the official website http://www.ca-msa.com/

TIPS YOU SHOULD CHECK OUT BEFORE COMPANY INCORPORATION IN INDIA

Company incorporation is a major work to do before setting up finances and discussing markets. First thing first, there is a lot of paperwork and details to be sorted out. A lot of complex legal framework can mess up your good work and sink your company under the water!

There are three major rules that mainly work for the upcoming companies and should be kept in mind!

Together, rule number 8, 9, and 36 are the important ones which describe all the major procedures for incorporation of the company and its subsequent naming. Here are a few salient points about these procedures:-

●       The first rules state the name of the company should not be “undesirable “to the work or against the main members of the company.                                                                                                      The name of the company which is not in sync with the principal objects of the company by simple conjunction of association. The name is vague. Or it may produce a false impression on its clients and mistakenly refer to other products or services.

●       The name which is intended or likely to produce a misleading impression regarding the scope or scale of its activities which would be beyond the resources at its disposal cannot be chosen.

●       If the company changes its services, then the name of the company needn’t be changed.

●       If the company is named after a particular person or relative, then it must be done so with the consent of the person and the board

●       The details for incorporation of a company in India can be uploaded in an e-form. Errors can be rectified in 15 days. Else the registrar provides another 15 days for rechecking and corrected submission.

●       The name of the company cannot be similar to any other company providing the same kind of goods and services.

●       The kind of legal framework required for the incorporation of the company should be dealt with a lawyer.

●       The board of trustees in any forming company should be allowed to know all the regulations that are being stipulated in the forming contract.

Of course, there are companies like Mahaveer and Singhvi Associates- (http://www.ca-msa.com/) which can help you iron out and sort out all kinds of details that become a huge jumble while forming a company. After all, even with recent laws easing up the situation, company incorporation is a tough task and companies like this are needed for you to guide the way!

ALL YOU NEED TO KNOW ABOUT INDIRECT TAXATION SERVICES

The taxes levied by the government form a pool of resources to be used for the collective benefit of the public. The taxation is an exercise in the collective solution of individual problems. The state takes upon itself the duty of solving the problems of the underprivileged and need finance for this purpose. The government can mobilize resources by imposing taxes on the privileged ones. A tax may be defined as a "pecuniary burden laid upon individuals or property owners to support the government, a payment exacted by legislative authority.

Excise duties on the production of commodities, sales tax, service tax and customs duty, tax on rail or bus fare are some examples of indirect taxes. Excise Duty The tax imposed by the government on the manufacturer or producer on the production of some items is called excise duty. Inputs free of duty: Exporting units need raw materials without payment of customs/excise duty, to enable them to compete for exporting Custom duty is a form of indirect tax. Standard English dictionary defines the term "custom" as duties imposed on imported or less commonly exported goods.

The multi-structured-layered indirect tax imposed on both at the Central and State level in India which is extremely complex and dynamic in nature. Further, frequent changes in the legislation/ judicial pronouncements and the proposed change Goods and Service Tax (GST) regime make the analysis of a business structure from an indirect tax perspective all the more imperative. 

Indirect tax affects all the aspect of a company. They have impact on all the fields inside a company from raw materials cost to shareholders and for that to stay ahead in competition we need expert advice or consultation on how to handle these taxes to stay ahead in competition and avoid too much of cascading tax in the manufactured cost of our product. www.ca-msa.com is one of the recommended sites that would help you to achieve this and giving you more details on indirect taxation. 

Services they provide vary in different fields like from Registration under Central Excise, Customs, Service Tax, Import Export Code & VAT, Accounting, and Preparation & Assistance on filing of periodic returns, Handling of Assessment Procedure, conducting audit under relevant statutes, Assistance in moving courts on legal issues arising out of assessment/appeal, Assisting in maintenance of various records for statutory compliance etc.

TIPS TO ENSURE PROPER BUSINESS TAXATION

Running and handling your business is a tricky thing as it is, and then comes the complicated legal tangle of various business taxation reports. How much tax should you pay, inclusive of profits, cost calculation and transport is a muddle that only a financial guru can help you with. Of course, in the recent days, there are a plethora of good companies which can audit your business and solve all problems related to business taxation.  

Mahaveer and Singhvi Associates- http://www.ca-msa.com/ are a good chartered accountant firm which can help you calculate the proper amount of tax as required by the government and help you plan your tax returns carefully. They will also be able to suggest a better way to reduce the taxation levied on your business.

Here are a few tips given by many popular websites on how to handle business taxation issues:-

1. Consolidate your Business structure

There are certain business structures that could beneficial to you in a financial point of view. These structures will provide you with some protection from the liabilities of your company and they help reduce taxation for any particular asset. So plan and segregate your business wisely.

2. Payroll and taxes

It is not a matter of joke to figure out the salaries of all employees working under you and also figuring out the state and central taxes being deducted from them. Also, there may be many kinds of hidden taxes levied in different directions. It is best to use a good reputed firm to figure out the exact distribution and payment of their taxes.

3. Other c and fees

There are many kinds of tariffs and taxes levied based on the kind of product you are selling to the kind of service you are offering. There are different categories of products that have different rates and concessions. It is necessary for you to know all these concessions and claim the reliefs you can get in a certain time period from the strenuous business taxation.

Thus, business taxation is not an easy matter to get rid of, but with proper caution, care and regularity, you can handle all aspects of your business properly without letting the taxes become a headache. Remember, in the end, death and taxes are inevitable; however, there are companies who can assure that at least one of them doesn’t have a bad ending!