Chartered Accountant Service Details

  How to Choose the Best Income Tax Filing Software for Your Needs It's that time of year again - tax season! As you prepare to file your income tax return filing , you may be wondering - which tax filing software should you use? With so many options out there, it can be tricky to determine which one best suits your needs. Here are some key factors to consider when choosing tax filing software: Compatibility with Your Situation The first thing to check is whether the tax software can handle your particular tax situation. For example, if you are a small business owner, you'll want software that can support business returns with extra schedules like Schedule CA in Chandigarh . If you have investments, look for software that can import investment transactions. Cost for Software Tax software ranges from free versions to premium packages costing $50 or more. Consider whether it's worth paying more for certain conveniences like audit support or live expert help. Als...

  The introduction of Goods and Services Tax (GST) in 2017 represented one of the biggest tax reforms in India. However, due to its complex structure, many businesses in Chandigarh struggle to ensure full compliance and avoid penalties. Here are some common GST mistakes that businesses in Chandigarh must steer clear of: Incorrect Registration Type One error many make is choosing the wrong GST registration consultant type. The major ones are regular registration, composition scheme, TDS/TCS registration. Opting for composition when you are not eligible can lead to recovery of tax with penalties. Seek expert advice to determine the ideal GST registration type for your business operations and turnover. Missing GST Deadlines Another big mistake is missing GST due dates for filing returns, monthly tax payments, annual filing, etc. Delayed filing of GST returns like GSTR-1 and GSTR-3B even by a day attracts late fees up to Rs 200 per day. Further, input tax credit gets lapsed if...

ITR stands for Income Tax Return. It is a form that has to be filed with the Income Tax Department every year by individuals and businesses to report their income and tax liabilities. The Income Tax Act mandates that if your annual income crosses a certain threshold, you have to file your ITR. Who Needs to File ITR? The following individuals and entities need to file their ITR annually   - Salaried individuals whose annual income exceeds Rs. 2.5 lakhs - Self-employed professionals like doctors, lawyers, architects etc. whose annual income exceeds Rs. 2.5 lakhs   - Businesses and corporates - Working partners of firms - Anyone who has earned interest income above Rs. 10,000 in a year - Those who have executed high value transactions like mutual fund investments, equity shares etc.   How ITR Consultants Can Help   Filing income tax returns can be a complicated process for many due to lack of knowledge about latest rules and regulations. This is wher...

  A chartered accountant in Chandigarh can provide invaluable assistance with GST filing and compliance for a company in the following ways: 1.     Registration Assistance - The CA can help obtain new GST registration or migrate existing registration to the GST system. This includes guidance on the documentation required. 2.     Return Filing - The CA can file monthly, quarterly, and annual GST returns on behalf of the company within prescribed due dates. This includes GSTR-1, GSTR-3B, GSTR-9 etc. 3.     Reconciliation of Books - The CA reconciles the company's books of accounts with GST returns to ensure accuracy and timely compliance. 4.     Input Tax Credit - The CA examines business transactions to ensure optimal utilization of input tax credits and avoid unnecessary tax liability. 5.     Tax Payment - The CA assists in generating challans for tax payments and ensuring timely deposit of GST c...

In today's fast-paced business environment, accurate and efficient financial management is crucial for the success of any company. Companies in Chandigarh and beyond require a strong accounting section to ensure compliance with regulations, make informed financial decisions, and drive growth. Hiring a Chartered Accountant (CA) in Chandigarh can be a game-changer, providing expert guidance and support in managing the company's financial affairs. This article explores the invaluable role a Chartered Accountant plays in enhancing the accounting section of a company and the benefits it brings to the table. Comprehensive Financial Expertise A Chartered Accountant possesses in-depth knowledge and expertise in various aspects of finance and accounting. They have successfully completed rigorous training, exams, and practical experience, equipping them with a deep understanding of financial regulations, tax laws, auditing procedures, and accounting standards. With their broad skill ...

  The process of submitting taxes electronically using online software accepted by the relevant tax authority of each country is known as e-filing. Certain professionals and businesses having a minimum yearly income cap are occasionally prohibited from filing electronically. It varies from country to country, and occasionally even within a country, province to province, depending on the tax laws and government restrictions, whether individuals, small businesses, and other professions are permitted to e-file. Like all, NRI also can file their tax through the E- Filing. In this post, you can see the process and guidelines of E- Filing Income Tax for NRIs: Eligibility norms for E-filing income tax for NRIs ·        Income : To be qualified for electronic income tax filing, NRIs must have earned income from India. The revenue may come from a wage, rental income, capital gains, or some other source originating in India. ·     ...

When the income of a person or a business exceeds a certain amount, tax is added to it.   Every working Indian must fulfill this moral obligation. You must submit your tax returns on time each year in order to complete your duties as a citizen. The majority of people frequently view filing income tax returns as a difficult task. A  Chartered Accountants in Chandigarh  can help you file your income tax returns without any unwanted problems. Usually, people will record the income of the previous financial year by filing income tax returns. Everyone in society, whether they are employed, part of a partnership, or a HUF, should file an ITR. For everyone to pay their taxes, they need to file their income tax returns. Continue reading to know why it is good to file your ITR: Can help you claim deductions The government gives you certain deductions so that you might lessen the load on the taxpaying public and persuade more individuals to pay their taxes. Yo...

Tax is a central element of the revenue generation system of the Indian government. Among the multitude of taxes present in the design, income tax is the one that deals with the taxation of the earning of every individual, firm or organization in a financial year. The income could be in the form of salary, from the let-out property, interest, dividends, business income, capital gains or any other profits.  chartered accountant in chandigarh What is Income Tax Return? An income Tax Return is a proof that you have paid your income tax. It contains details about your annual income and the amount of tax you have paid. Anyone earning taxable income must file Income Tax Return (ITR) annually. Filing ITR will help you get a refund if TDS deducted is more than your tax liability. If you fail to file your ITR, you might have to pay the penalty or face legal consequences.  How to e-File ITR? To e-File ITR, you have to Visit the website of the Income Tax Department of India. 1:) Under th...