TDS/ Service Tax/ Audit
- Obtaining Tax Deduction Account Number (TAN).
- Advice on all matters related to compliance of TDS/TCS provisions.
- Periodic review of TDS/ Withholding Tax compliance.
- Computation of monthly TDS.
- Monthly reconciliation of TDS due and deposited.
- Monthly deposit of TDS electronically/manually.
- Issue of monthly/annual TDS certificates.
- Filing of quarterly E-TDS/Manual Returns.
- Filing of Correction Statements.
- TDS assessment.
- Registration under Service tax.
- Consultancy for maintenance of proper records.
- Consultancy for proper accounting for Service tax.
- Consultancy on various issues relating to Service Tax.
- Compilation of data of Cenvat credit.
- Assistance in availment of notified Abatements.
- Utilization and availment of service tax credit in accordance with the Service Tax Credit Rules, 2002.
- Computation of Service tax payable.
- Preparation and filing Returns.
- Getting assessments done
Broadly, Audit involves the following:
- Indepth study of existing systems, procedures and controls for proper understanding. Suggestions for improvement and strengthening.
- Ensuring compliance with policies, procedures and statutes.
- Comprehensive review to ensure that the accounts are prepared in accordance with Generally Accepted Accounting Policies and applicable Accounting Standards/IFRS.
- Checking the genuineness of the expenses booked in accounts.
- Reporting inefficiencies at any operational level.
- Detection and prevention of leakages of income and suggesting corrective measures to prevent recurrence.
- Certification of the books of account being in agreement with the Balance Sheet and Profit and Loss Account.
- Issue of Audit Reports under various laws.
Types of Audits conducted:
- Statutory Audit of Companies
- Tax Audit under Section 44AB of the Income Tax Act, 1961.
- Audit under other sections of the Income Tax Act, 1961 such as 80HHC, 80-IA, etc.
- Concurrent Audits.
- Revenue Audit of Banks.
- Branch Audits of Banks.
- Audit of PF Trusts, Charitable Trusts, Schools, etc.
- Audit of Co-operative Socities.
- Information System Audit
- Internal Audit