A chartered accountant in India, or anywhere else for that matter is much more than a tax advisor. They are typically able to provide help and advice in many matters which allows businesses to offload some of the most technical and complex aspects of a business.
One of the services a charted accountant in India offers is what is known as knowledge process outsourcing, otherwise known simply as KPO.
A company offering chartered account services will typically provide the following services:
* Keeping books and help with preparing the final business accounts;
* Processing of the payroll;
* Processing accounts in relation to debtors and creditors;
* Preparing management accounts;
* Preparing systems for management information.
Other huge assets to obtaining a chartered accountant in India are for book keeping and accounting services in general. Typical services will involve maintaining the books on a daily basis along with on a monthly or quarterly basis. All book-keeping will be done to the accounting standards of the US GAAP. In addition a company can help and provide advice about the payroll of the company. This may include:
* Preparing the monthly payroll which is based on the organizations or companies input;
* Make sure that deductions are of the correct amount according to applicable statutory laws;
* The checking of the form 16 in relation to the employees along with making returns for e-TDS with the relative Income Tax authorities;
Internal and management audit is another service that is typically offered by a chartered accountant in India.
An accounting company is able to help clients get a better understanding of how their business works which leads to exploration of the business and checking out opportunities that might have otherwise been passed up on. This in turn leads to an improvement in the performance of the business. Typically management assurance services may be offered in the following roles:
* Internal control reviews;
* Management information system audit.
While there is much more to a chartered accountant in India taxes do play a role in the job of the accountant and companies do offer tax advisory and management services.
In regards to the services offered these may typically be corporate along with personal taxes along with assessments for income tax. Services may also include tribunal appeals, tax planning and filing of tax along with providing information for the compliance of laws which relate to all manners of tax.
As you are able to see from the above the roles of the accountant can be very diverse. From keeping the filings of tax returns in order to providing help and assistance with audits, book keeping and accounting in general. A good chartered accountant in India is able to provide numerous services.
