Importance of Auditing Services and Auditors

Handling financial matters in the best possible way is crucial when setting up a business and running it efficiently. Many entrepreneurs, start-up owners and businessmen hire chartered accountants to figure out their financial operations. The knowledge of a chartered accountant can help you increase your gains in several aspects. Companies always try to find cost-cutting techniques and efficient management of company's financial budget to balance the profit and loss. For all these economic works, businesses require auditors to check the company's financial status and its associated activities like accounting, taxation and payroll. There are many aspects on which auditors testify and deliver a financial audit report which includes detailed summarization of annual economic activities.

 

The need for Auditing Services

 

For the company's effective and efficient run, auditing is necessary to plan various capital building strategies and financial reports. Finance hails in many aspects like banks, financial institutions, stakeholders' investments and shares. To analyze all these resources correctly auditing becomes necessary. If risk management fails to estimate future financial plans, then auditing facilities like the inquiry of accounts, reviewing commercial transactions, and re-assessment of costing and financial management comes into the picture. After all this, further financial plans will become more evident. When managing the company's financial budget, one must adequately assess all the worst-case risks associated with it.

 

Different Types of Auditing Facilities

 

The financial audit is not limited to budget and accounts, but it has general taxation and insurance scope. During the preparation of monetary policies, auditors play a significant role to minimize the risk factors. Apart from financial auditing, there are many other auditing facilities such as production audit in which auditors assess the quality of the end product and analyze if it is up to the mark or not. Also, there are audits like HR audit in which auditors ensure that all HR policies are well in practice.

 

 Auditing Services and Auditors in Mysore, Karnataka

 

There are excellent auditing facilities with experienced auditors in Mysore. Right from the HR audit to internal financial audits, every auditing facility is available in Mysore. Reviewing taxation and insurance policies, incorporating the new financial stakeholders, and purchasing audit are essential auditing facilities provided by Mysore auditors. So, be hurry and figure out which audit is suitable for your company, start-up or business. Because choosing the correct auditing facility and the auditor is also necessary to make your organizational operations smooth and clear.

Mahaveer Singhvi & Associates is the best option to avail of various auditing facilities if you are looking for an auditor. With a presence in Mysore and Kalaburgi, they render the best professional services for a decade. The well-trained staff has expertise in handling accountancy, audit, taxation, finance, payroll and costing. They provide numerous auditing facilities such as tax audit, internal audit, statutory audit, auditing of insurance firms, law firms and service sectors organizations. These audit types also provide different financial audits, VAT audit, HR audit, system audit, and a lot more to serve clients best. If you are looking for the best auditor, you can contact Mahaveer Singhvi & Associates. 

 

With healthy client relationships as a priority, you can be sure of the best services. So, go ahead and visit the website to book an appointment with them to move forward.

 

Leading CA Services based in Mysore and Kalaburagi

If you are involved with any financial service base organization, it may be of no new to you that how vital is the involvement of CA for your organization. Be it auditing, taxation or consultancy, and we need not iterate the importance of a Chartered Accountants for your organization. And while it is imperative, it is also essential that you choose a reliable one for carrying out such crucial tasks.

And all our readers we have a recommendation for you from the Kalaburagi or Mysore vicinity. Mahaveer Singhvi and associates are one of the leading and trusted name in the field of chartered accountancy in town. They have several services to offer, and their genuine and timely precise service is one of the many reasons we recommend you to get their services.

 With the rapidly growing number of people in the field of accounts, the one that stands out of the crowd is the one that offers services that will not only be reliable but also of quality. Needless to say, Mahaveer Singhvi and associates will give you a better insight of the processes and will keep you in a loop, with providing you with the right solutions and consulting for taxation and audit-related issues.

 

What makes them different?

 

Timely auditing is one of the essential things that any organization will look forward to while hiring any accountant. CA services should be accurate, their audit should be proper, and they should be updated with all the new laws that apply to your organizations.

 

They work with an approach that keeps the customer as the center. Their services are done with a proper period, and their dynamic system is only an added advantage for the organizations. They are promising to give you significant business based solutions and will continuously update their techniques based on the latest technology and tools that are in the market. Their CA services are appreciable, reliable and trusted by the people.

 

Services they offer

 

It is a common myth that Chartered Accountants have a job role of just auditing. Other services come too, and Mahaveer Singhvi and associates also have services to offer for their clients, which are as below:-

• Auditing services – Audit of various types of organizations like charitable, hospitals, educational institutes, nationalize or private or corporate banks, internal audit reviews, departmental audits, audit compliance etc. are some to name.
• Direct taxation – Tax planning, representation before the concerned authorities, transfer pricing, preparing the tax returns etc. are some of the services they provide under direct taxation.
• Indirect taxation - Accounting preparations, providing proper clarification and explanation on the issues, advising on record maintenance, assistance in judicial appeal situations.  
• Management and consultancy – Preparing financial statements, annual budget preparing, detailed profit and loss trading and giving you clear and precise figures by which you can decide your business decisions and needs.

 

Apart from this, there are other services available too such as company compliance or creating a detailed project report, or trust incorporation etc.

 

Mahaveer Singhvi and Associates is truly a leading and trustworthy solution, and it is one of the recommended options for all your audit and tax-related services. They offer acceptable solutions, up to date and in accordance with the laws in the market. With all such beneficiary revolving, we highly suggest you check them out, http://www.ca-msa.com/. You will get a better insight, and they will assist you in gaining a positive solution.

 

Different Types of Audit Services

Internal audits are conducted in accordance with the Standard for the Professional Practice of Internal Auditing. Other auditing standards may be followed as deemed appropriate for the types of audits being conducted. We provide the best auditing services as below:

1. Operational, Financial, Compliance and Information Technology Audits – this involves the objective assessment of information, facts, or data by internal auditing to provide an independent opinion or conclusion.  The scope and nature of these services may include reviewing and evaluating for: operational efficiencies and effectiveness; reliability of financial and operational systems; adequacy and clarity of policies and procedures; compliance with university policy and state and federal law; safeguarding of assets; the accomplishment of objectives and goals; or other agreed-upon procedures.

2. Consulting Services – we provide advisory and other service activities include counsel, advice, facilitation, process design, and limited training. The objective of consulting services is to add value in the development or modification of processes, procedures, and controls to minimize risk and achieve objectives. Internal Audit will not assume management’s responsibilities in order to maintain appropriate objectivity and independence.

3. We provide investigations evaluating allegations of fraudulent business practices and/or misconduct involving financial or operational matters to determine if allegations are substantiated and to prevent future occurrences.

4. We provide follow-up engagements and evaluate plans and actions taken to correct previously reported conditions as a result of completed audits and investigations.

For the best auditing services, contact us at http://www.ca-msa.com/.

Mahaveer Singhvi and Associates direct you towards complete information of taxation services

The taxation services of India contains two times that are direct and indirect taxation services. A taxpayer must know what did taxation services are for which includes income tax and wealth tax indirect taxation services and Central excise, customs, service tax and many more in indirect taxation services.

In the past years in spite of different reforms still India is prevailing the indirect tax regime in the state of evolution. Also the direct taxes that we are paying have so many amendments with the the implementation of GST. With the photographer of rules and regulations as well as laws at the state and Central level it becomes impossible to understand every bit of it while running a business or working as an employee. 

In order to keep updated and you know all these taxation services, the best option is to consult one of the most trusted chartered accountant firm, Mahaveer Singhvi and Associates in Mysore. With our dedicated as well as experience team of experts and chartered accountants we provide a multidimensional professional taxation services to our clients. With our support and perspective to effectively and efficiently manage your taxes we maintain a trustable relationship with our clients. For your startup expansion for business related queries you can visit our website http://www.ca-msa.com/ or contact us.

Outstanding Auditing Services

Every year we have to go through the tedious process of filing our taxes. Whether you’re an individual or a business, filing taxes is an important task we all must complete! Although it may seem like a hassle, this is a necessary step we must take to ensure that the government does not audit you. However, even though this is well known, many individuals and organizations face the brunt of government audits because of improperly filed taxes. Though it may not seem such a big deal to you, tax evasion is a crime punishable by imprisonment. 

A number of individuals have had to suffer through long sentences in jail due to tax evasion. Make sure you or your business are properly covered by properly filing your taxes on time. In case you are not well versed with the intricacies involving tax filing, it is always advisable to seek the help of a professional.

You need to find professionals who have the experience and the skills to handle your auditing work with ease. 

Someone who has been working in the auditing sector and who know the process from top to bottom. However, finding professionals who you can trust with your auditing work is never easy. Despite having the required qualifications and experience if the auditing service you choose does not handle the work in a reliable manner, it is of no use. It is always advisable to go through previous client reviews of the business to check if the professionals you have chosen can handle your auditing work. Keeping your accounts and taxes in order will not only help you or your business grow, but it will ensure that you’re not bothered by the government or face charges for not filing taxes.

If you’re in search of reliable professionals to handle your auditing work, we can help! We provide outstanding auditing services to cater to your needs. Our professionals have the skills and the experience to handle your work in an efficient and reliable manner. When you choose us for your auditing needs, you can be at ease knowing that you’ll get nothing less than outstanding work. We strive to ensure your complete satisfaction with our services. Our commitment to providing each of our customers with only top-notch work is what sets us apart! You can rely on our dedicated professionals to exceed your expectations with our products and services. Visit us at http://www.ca-msa.com/ to find out more!

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.

 

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/

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.

Why auditing is a game changer for any business organization

Auditing is a method for assessing the viability of an organization's internal controls. Keeping up an effective system of inward controls is essential for accomplishing an organization's business goals, getting dependable monetary reporting regarding its operations, anticipating extortion and misappropriation of its benefits, and limiting its cost of capital. Both internal and independent auditors add to an organization's audit framework in various important ways.

Business Objectives

Having a successful audit system is vital for an organization since it empowers the company to pursue and achieve its different corporate goals. Business processes require different types of inner control to encourage supervision and checking, prevent and identify sporadic exchanges, measure ongoing performance, and keep up sufficient business records and to advance operational profitability. Internal auditors survey the outline of the internal control and informally propose enhancements, and record any material inconsistencies to empower encourage examination by administration in the event that it is justified in light of the current situation.

Risk of Misstatement

Auditors assess the risk of material misquote in an organization's money related reports. Without a system of internal controls or a review framework, an organization would not have the capacity to make dependable monetary reports for inner or outside purposes. Along these lines, it would not have the capacity to decide how to allocate its assets and would be not able know which of its portions or product offerings are beneficial and which are definitely not. Moreover, it couldn't deal with its issues, as it would not be able to tell the status of its benefits and liabilities and would be rendered undependable in the commercial center because of its failure to reliably deliver its products and ventures in a solid form. In like manner, a financial audit framework is pivotal in averting weakening misquotes in an organization's records and reports.

Misrepresentation Prevention

Internal financial audit serves a critical part for organizations in extortion counteractive action. Repeated audit of an organization's operations and keeping up thorough frameworks of internal controls can avert and identify different types of misrepresentation and other account abnormalities. Review experts aid the plan and alteration of internal control frameworks the reason for which incorporates, in addition to other things, extortion counteractive action. A critical piece of avoidance can be discouragement, and if an organization is known to have a dynamic and steady review framework set up, by notoriety alone it might keep an employee from hatching a plan to dupe the organization.

At Mahaveer Singhvi and Associates, we offer proficient auditing services to help ensure that your accounts are in order, easing filing of annual taxes. For more on our auditing services, visit our website at http://www.ca-msa.com/

Four ways you can file your income tax

Too much last minute rush is the reason why one must not wait till the last date to file their tax returns. There have been cases where people were unable to pay their taxes, missing out because they waited till the very last day. Also, during all the hurry, your form filling could be error prone. If you haven’t done your income tax filing formalities, here’s how you do it.

On your own:

If your annual income was less than the amount set by the government and there weren’t any claims, you can file your income tax returns yourself. You can either do that online or physically by getting the form from the income tax office of their website. Don’t forget to take an acknowledgement that is stamped, when you file your tax returns physically.

Tax return preparers

Income tax department has appointed tax return preparers (TRPs) who assist people filing in their income tax returns. They are trained to file your returns for you. From the website, you can find the registered TRPs in your area with their contact details. Based on the amount of tax yu are paying, they are paid by the compensation on each return filed. The higher your tax amount, the higher their compensation. If you are using this method, ensure that you have your TRPs details and counter signature on the ITR form.

E-filing smartphone applications

With advancement in technology, it is now possible to file your returns through mobile phone. All you need is a smartphone and internet. There are mobile apps for filing returns. As of now, most of these apps have the provision to file only ITR-1 or returns that are from salary and interest. Refund status check and tax calculator are also available on this app. Most of these services are free as well.

Chartered accountants

Self-filing can be a hassle if there are tax audits, complexity and multiple income sources (and deductions) are involved.  In such a case it is advised that you must consult a chartered accountant. Their charges will vary with respect to the income source and how complex the return filing is. Higher the complexity, the higher the charge. There are online portals as well that will get you in touch with a CA on the phone, at a third of the price.

Income tax filing is not a complex process and one must do it well in advance to avoid the last minute rush. Filing taxes does not have to be as scary as it is made out to be. Let our experts offer professional help in filing your income taxes on time. To know more about our services, do visit our website http://www.ca-msa.com/

AUDITING- GET INSPECTED!

Auditing is a systematic examination of accounts and records of an organization to calculate its financial statements along with non-financial disclosures.

It ensures to keep the accounts and records of the company properly maintained abiding by the laws of the government. Every system, projects and organizations are necessarily required to be inspected for their legality by experts known as auditors.

They inspect all the internal operations of an organization, business and companies. They utilize different procedures to keep in check the genuineness and reasonability of the company. Auditing scrutinizes financial activities causing irregularity in one’s business.

CA firms are expert in resolving company matters thoroughly through their professional chartered accountants. They offer many different kinds of auditing services namely;

Financial auditing services: There are a lot of diverse financial statements of the company or an organization that involves balance sheet of company by parties they deal with. Hence, auditing is done to establish an independent and upright opinion whether the financial statements, accounts, and bills are accurate. They need to be completed on time and presented accurately.

Internal audit: Very large business operations require a thorough check of all day to day transactions happening in their company. To keep a daily check on such transactions an internal audit is required. These services are also provided by CA firms. They greatly access and evaluate the internal control of the business organization. They ensure value addition and improvement to different company operations. This type of auditing is done to eliminate accidental or intentional accounting errors and omissions which in turn boost up the strength of internal systems of the company.

Tax audit: It is a background check of tax returns that are submitted by the business to a tax agency. This kind of audit is highly recommended to discourage tax avoidance.

Special investigative audit service: This service helps organizations in marking the areas where fraud and financial impropriety may occur. CA firms assist these company and organizations to detect frauds and prevent them by getting misguided.

Operational efficiency audit service: In many big organizations and companies there are quite a few numbers of projects that require huge investments. This service ensures that all the operational resources are used for generating maximum outputs. They also keep in check the performance of the company and its quantity of waste in the company.

Mahaveer Singhvi and Associates provide wide range of services. For more details, do visit our website at http://www.ca-msa.com/

A brief understanding about Indirect taxes

An indirect tax is a tax that is paid to the government by one entity in the supply chain, but it is passed on to the consumer as part of the price of a good or service. The consumer is ultimately paying the tax by paying more for the product.

An indirect tax may increase the price of a good to raise the price of the products for the consumers. Examples would be fuel, liquor, and cigarette taxes. An excise duty on motor cars is paid in the first instance by the manufacturer of the cars; ultimately, the manufacturer transfers the burden of this duty to the buyer of the car in the form of a higher price.

A brief understanding about Indirect taxes

The most common example if an indirect tax is import duties. The duty is paid by the importer of a good at the time it enters the country. If the importer goes on to resell the good to a consumer, the cost of the duty in effect is hidden in the price that the consumer pays. The consumer is likely to be unaware of this, but he will nonetheless be indirectly paying the import duty.

Essentially, any tax or fees imposed by the government at the manufacturing or production level is an indirect tax.

What are the features of Indirect tax?

Indirect taxation is policy commonly used to generate tax revenue. Indirect tax is so called as it is paid indirectly by the final consumer of goods and services while paying for purchase of goods or for enjoying services. It is broadly based since it is applied to everyone in the society whether rich or poor.

What is excise duty?

Excise duty is a governmental tax meant for producers and manufacturers on certain goods.

Manufacturers are considered to be:

• ·        Entities that manufacture goods themselves.
• ·        Entities that outsource manufacturing, but manufacturing takes place from their name

To cover these costs, manufacturer adds them to cost of goods sold, where the buyer ends up paying for these costs. Thus, it is considered to be an indirect tax.

Advantages

They are convenient to both the tax-payer and the State. The tax-payers do not feel the burden much, partly because an indirect tax is paid in small amounts and partly because it is paid only when making purchases. But the convenience is even greater due to the fact that the tax is "price-coated". Indirect taxes can be spread over a wide range. Very heavy direct taxation at just one point may produce harmful effects on social and economic life. As indirect taxes can be spread widely, they are more beneficial and suitable.

Mahaveer Singhvi and Associates provides wide range of services. For more details, do visit our website at http://www.ca-msa.com/

WHAT IS INCORPORATION?

Incorporation is the legal process used to form a corporate entity or company. A corporation is a separate legal entity from its owners, with its own rights and obligations. Corporations can be created in nearly all countries in the world and are usually identified as such by the use of terms such as "Inc." or "Limited" in their names.

Creation and Organization of Corporations

Incorporation involves drafting legal documents called "Articles of Incorporation" that list the primary purpose of the business, its name and its location, and the number of shares and class of stock being issued, if any. Incorporation also involves jurisdiction-specific registration information and fees.

Why one needs to incorporate their business?

Once you incorporate your business, you will help your organization to develop by creating a line, which will determine who has the rights to make the final decisions.

Furthermore, when a person incorporates his business, he is making a brand new entity, which assist in creating the line which separates the personal finances and the business finances. When you finally incorporate your business, all of the employees in your company will have protection in case something catastrophic happens regarding your financial situation.

Through company incorporation involving a pty limited company, one produce stocks which investors can buy hoping that the stock’s value will get bigger and in the meantime one would accomplish company success. The company incorporation will let the investors buy and sell stocks leaving the investment responsibility in the possession of stock investors.

Advantages of Incorporation

Incorporation has many advantages for a business and its owners, including protection of the owner's assets, because the company is liable for its own debts. It includes easy transfer of the business ownership to another party through the sale of shares.

·    Protect Your Personal Assets: Incorporating your business is one of the best ways you can protect your personal assets. A corporation can own property, carry on business and incur liabilities

·  Have Easier Access to Capital: Raising capital is generally easier for a corporation, since a corporation can issue shares of stock. This may make it easier for your business to grow and develop. In most cases, banks would rather lend money to corporations than to unincorporated business ventures. Corporations generally have access to more alternative sources of capital through which they can pay off their debts.

·   Enhance Your Business’ Credibility: The benefits of incorporating go beyond finances. In a sense, having “Inc.” or “Corp.” after your business name conveys permanence, credibility, and stability, and communicates your commitment to the ongoing success of your business venture.

MAHAVEER SINGHVI & ASSOCIATES provide wide range of services. For more details, visit our website at http://www.ca-msa.com/

Why you need an expert financial planner?

   Having a financial experts to help you with your investments is a good option for anyone who is interested to make secure investments. This will ensure a professional, expert touch in helping you make educated choices when it comes to investing your money.

·        A professional will make it easy to choose funds and will help you with the investing process. They will also help with portfolio re-balancing and managing cost & fees as well.

·        A professional will also help with asset allocation and relocation thus ensuring low risk factors.

·        A financial planner should also help with making important decisions as well, such as job switching, children’s career choices and other such personal choices, which will affect your finances.

·        The expert will also help converting more savings into safe investing thus being able to handle volatile assets much better. This will also allow you to strike a size-able balance between savings, investing and thus securing your financial balance.

·        In most cases, the financial planner is expected to choose a good investment fund for their clients.

Having a good financial planner will also enable you to keep your financials in order, thus making it much easier when filing your taxes once a year. At Mahaveer and Singhvi Associates, we provide viable CA services for our clients. 

Earning a secure tax investment returns for an NRI

One of the best investment options for NRI’s is the NRE Bank FDs. These assure a secured, tax free return in India in a secure, stable manner. NRI’s have invested billions of dollars in the NRE bank deposits and have reaped benefits as well. This however has begun to change in the recent times, thanks mainly to the increasing currency risk of INR depreciation.

The income from NRE bank FD is the nature of an interest, but the income from money market mutual fund is in terms of capital gain. Traditionally, the interest is acquired in INR and is then converted to the foreign currency, while the capital gains are calculated in foreign currency, which thus provides the benefits of INR depreciation, i.e., better returns.

Hence if you are an NRI living in a country where you do not have to pay taxes on your foreign income, you can opt for NRE FD in order to generate a secure, tax free return in India. But if you live in a country that taxes foreign income, it is best for you to invest in money market investments.

At Mahaveer and Singhvi Associates as one of best Chartered accountants in Mysore, we will help you will all your investments and filing tax returns. Please contact us at http://www.ca-msa.com/

CIB- What is it?

The Income Tax Department (ITD) has strengthened its vigilance in the past few years and has made it a mission to identify stop- filers and non- filers and hence widen the tax base effectively. Once they have successfully identified these defaulters, they send a notice to such persons. The notice will usually read as such-

“The Income Tax Department has received information on financial transactions / activities relating to you. A list of some of the information for Financial Year is provided below. As per records, you do not appear to have filed Income Tax Return for Assessment Years. “ 

If you have received such a notice, then you will have to login to your e-filing portal and issue an appropriate response as stated in the compliance module. You would then have to print out this acknowledgement of response and send a copy to the jurisdiction ITO (Income Tax Officer) within a set number of days.

This additional crackdown- information gathering and other associated operations- are done via CBI )Central Information Branch). They will look beyond the Annual Information Report, as per Form 26AS, furnished by the ward. Since 2011, they have been working tirelessly to ensure a transparent exchange fo financial information between the individuals and the ITD by gathering information about investments, expenses, payment of taxes etc. For more information about our services and CA’s in Mysore, do visit our website at www.ca-msa.com