Services
What We Offer
Guiding You Towards Financial Clarity
As an expert we driving financial growth through strategic tax planning
Accounting
Accounting & Bookkeeping Services is the most time-consuming part of any business after the company registration is completed, as if we say focus on your business and leave the complexity of accounting & bookkeeping to the experts.
It’s a systematic process of recording, analysing and interpreting the financial transactions. By law, all businesses are required to submit their accounts to the Income Tax (IT) Department. Several start-ups tend to ignore this requirement early on and then scramble to put together their accounts when they are raising funding or being acquired.
Bookkeeping
Maintaining the books in-house certainly is a tedious and possibly expensive affair, but getting it done would significantly reduce pains in complying with the requirements of the IT Department; it gives the promoters and shareholders a good sense of how the business is doing and proves eligibility for loans in later years, and even satisfies investors.
Tax Logiq Consulting has efficient team and experience across all the major accounting software used in the industry for bookkeeping services, such as
> Tally ERP 9
> QuickBooks
> Oracle NetSuite ERP
> Align Books
> Zoho Books
Tax Logiq has a dedicated team of Professional Accountants and Experts who can quickly adapt to clients’ specified software and processes, and at the same time ensure quick turnaround time and quality standards.
MIS and Reporting
Timely and accurate information is very essential in today’s competitive and complex environment. Success of every business model depends upon taking right decision at right time. Keeping this in view, it is very important that decision makers get the right information at the right time so that timely action can be taken before problems become complex.
Tax Logiq Consulting helps its clients in giving timely and accurate information on financial health of the client in the form of periodic MIS reports with detailed analyses with suggestive actions to implement. This helps gain clients gain a competitive advantage.
Clients are able to identify their strengths and weaknesses due to the presence of strong of MIS and Reporting Process.
We Assist in Report Like:
Periodic detailed MIS Reports with through analyses and recommendations covering areas of significant importance.
Critical Expense Reporting – To enable cost cutting without disturbing current setup.
Profitability reporting with any given criteria/Project-wise profitability tracker.
Sales operations reporting – Order processing, invoicing, collection and support.
Special Report on areas where Management intervention is required.
Taxes
The Indian government keeps changing the tax slabs for income tax. The individuals have to pay the tax if they are eligible for the same under the prescribed slab limits. There are two main types of taxes, i.e., Direct Tax and Indirect Tax. The income tax is known as the Direct Tax. The individuals pay the Income-tax directly to the government on the basis of income. The income tax and Corporate tax are the two direct taxes that the government collects from the individuals and entities directly. It is important to file the income tax returns and pay the taxes in the prescribed period. The government usually announces the due dates for income tax filing.
Income tax is the direct tax levied by the Indian government. The tax is divided into the slabs, which determine the tax liability percentage of the individuals and corporates. Any resident and non-resident is who has the income is liable for paying the income tax in India according to the slabs.
Income Tax Heads:
The income heads are the categories in which the majority of the income sources are grouped. There are five income heads, which are used to group the income and then calculate the tax accordingly. Here are the five common income heads that any taxation professional will check before preparing your income tax return filing.
Income Tax Heads
The income heads are the categories in which the majority of the income sources are grouped. There are five income heads, which are used to group the income and then calculate the tax accordingly. Here are the five common income heads that any taxation professional will check before preparing your income tax return filing.
Income From Salary – Income from Salary for Salaried Professionals
Income From Other Sources – Income From Bank Savings, Term Deposits, Gifts, Winnings, etc.
Income from House Property – Income from Rented Property, i.e., House or Shop.
Income From Capital Gains – Income from the sale of property, shares, mutual funds, land, etc.
Income from Business Profession – Income from Business or Profession. Applicable for the Professionals and Freelancers like Doctors, Lawyers, Engineers, etc.
We assist in personal tax filing like persons having :
> Salary and / or House Rent Income
> Salary + Capital Gains Income
> Salary + Foreign Income and any other
> Tax planning & return preparation
– Corporations – Partnerships – LLCs/LLPs – Estates, trusts & gift – Not-for-profit organizations
> Income tax scrutiny and appearing notices before tax authority.
Getting PAN
Permanent Account Number (PAN) is a code that acts as an identification for Indian nationals, especially those who pay Income Tax. It is issued by the Indian Income Tax Department under the supervision of the Central Board for Direct Taxes (CBDT) and it also serves as an important proof of identification.
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Getting TAN
In India, a Tax Deduction and Collection Account Number (TAN) is a 10 digit alphanumeric number issued to persons who are required to deduct or collect tax on payments made by them under the Indian Income Tax Act, 1961
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Filing of IT returns
Income tax return is a document you file with the Internal Revenue Service or the state tax board reporting your income, profits and losses of your business and other deductions as well as details about your tax refund or tax liability.
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e-Filing of TDS returns
Filling e-TDS return is compulsorily for company and government deductors as per section 206 of Income tax law. So, it is the need of time to learn how to fill e-TDS return, if you are interested to work as accountant in company or government sector.
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Tax refunds
The return of excess amounts of income tax that a taxpayer has paid to the state or government throughout the past year. In certain cases, taxpayers may even receive a refund if they owed no taxes, because certain tax credits are fully refundable.
Consultancy on Tax Planning & Savings
Taxation is an extremely complex subject and needs professional skill of the highest order and the consultant has to keep track of frequent changes and modifications made in the Income tax rules from time to time to be able to guide aptly in tax planning, documentation and represent the cases skilfully.
Maintenance of IT records
These guidelines were developed using the knowledge and background of subject matter experts and Records Management professionals. They are presented for your reference in establishing retention standards for your program records.
GST Compliance & Other Laws
The indirect tax system in India has undergone a major change in July 2017 with the introduction of GST, replacing the erstwhile systems of excise, VAT, Service Tax, etc. The new regime aims at greater transparency and fairness across the range of goods and service providers, however it also introduces significantly higher compliance requirements in the form of multiple returns every month, multiple tax payments every month and constant reconciliation of tax credits being claimed by each entity.
With this change, many small and large businesses in India are at a loss to understand the transition and fulfil their tax liabilities correctly. All GST filings are necessarily required to be done online.
Obtaining GST Registration
Goods and Service Tax (GST) Registration is a tax registration required for businesses trading or manufacturing goods in India. We currently offer our service for Tamil Nadu CST registration.
Preparation of GST returns
GST returns are should be e-filed and submitted to GST authorities every month with details of every transaction. Also annual returns shall be e-filled.
Appeal for Assessment
Every year an assessment is performed by sales tax officers on proper maintenance on records, bills and forms.
Online Monthly / Quarterly / Annual GST e-Filing
Consultancy on GST Matters
Registration Services
We have the expertise to help you get the following registration according to your business needs:
Company or LLP Registration
Registering a start-up or a new business in India first and foremost one has to go by, there are some official procedures a start-up or a company has to follow in order to register them in Indian official records. We will help you to get a legal license for your business with Digital Signature Certificate (DSC), Director Identity Number (DIN) and filing for an eform.
Firm Registration
Partnership firms in India are governed by the Indian Partnership Act, 1932. While it is not compulsory to register your partnership firm as there are no penalties for non-registration, it is advisable since the following rights are denied to an unregistered firm.
ESI Registration
Employees’ State Insurance Corporation (ESIC) provides monetary and medical benefits to Employees. Registration is the process by which every employer/factory and its every employee employed for wages, is identified for the purpose of the Scheme, and their individual records are set up for them.
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Provident Fund (PF) Registration
The Employees’ Provident Fund Organization (EPFO) provides social security benefits to Employees of establishments on which the Employees’ Provident Fund and Miscellaneous Provisions Act 1952 applies.
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Digital Signature Certificate (DSC)
The DSC authenticates one’s identity electronically which means it can be presented electronically to prove one’s identity. It is in the best interest of the businesses and individuals to apply for digital signature as it provides you high level of security and ensures privacy of the information for your online transactions exchanged by using a Digital Signature.
As India is rapidly transforming itself as ‘Digital India’, there will be huge demand for digital signatures and electronic signatures in the next few years. It will be very useful for carrying out secure web-based transactions, in e-Tendering, eProcurement, for Income Tax filing, for signing documents like MS Word, MS Excel and PDFs.
We Provide All Categories of DSC at affordable prices
Professional Tax Registration
All Traders, Business owners and professionals like doctors, engineers, lawyers, chartered accountants, consultants, architectures, and other professionals are also supposed to pay PT.
Trust or Association Registration
A trust is an agreement between people (called trustees) to manage property over which they have control either to benefit other people (called beneficiaries) or for charitable purposes.
Trade License
Trade License is a license issued by the municipal corporation which gives you permission to carry on the particular trade or business for which it is issued. It does not grant ownership of property or permission for any other activity than for which it is issued.
Import Export License (IE Code)
An import-export license is mandated by various federal agencies, and it identifies what products are shipped or delivered between international locations.
Food License (FSSAI)
The Food safety and national authority of India (FSSAI) has been established under Food Safety and Standards Act, 2006 which consolidates various acts & orders that have hitherto handled food related issues in various Ministries and Departments.
Payroll & Other Services
When you want to go beyond the mentality of just giving out pay checks to your employees, our payroll services can bring about new business insights and help you focus on what you do best – running your own business. Our payroll management services allow you to take your human resources management to a higher level.
As one of the top payroll providers in India, we understand how important it is for your organisation to ensure error-free payroll management activities. With our extensive range of services, your organisation can enjoy a payroll process which is timely and accurate.
Here are some of the payroll services that we provide:
Effective payroll administration can be a catalyst for this transformation. When you don’t want to manage all payroll processes in-house, as a reliable payroll outsourcing company, we offer better and more efficient payroll management process for your organisation.
Payroll outsourcing is the act of delegating payroll administration to third party having expertise in payroll processes.
Generally companies outsource their payroll functions to cut costs, and to get better services.
