Compliances

1. Income Tax

(i).Tax Return Filing

Every person has to furnish a return of his total income, if the total income exceeds, the maximum amount which is not chargeable to income-tax. Further, it is obligatory for a Company or firm to file a return of income in every case.

Advantages of Income Tax Filing Online

Avoid penalties by filing the ITR Returns and file on time to avoid the late fees.
Online verification of ITR through electronic mode, at the convenience of your office or home.
Easy Loan approval is only possible if you file the ITR Returns.
Required for Visa Processing, ITR Returns copies are required while visa processing.
Claim Tax refund, if due by filing the ITR Returns on time.
Carry Forward of Losses.
ITR can be used as Address proof & Income proof.

We are in practice of Income Tax Laws for over past 30 years. We offer personal consulting, ITR Filing, Computation Sheet and Tax Planning Services.

Our Services Are Complete Online Process Flow

Send us Form 16, details of other income, TDS certificates, and related documents via email or WhatsApp.
We prepare a detailed tax computation sheet along with suitable tax-saving recommendations.
Review and discussion of the tax calculations with the client.
Final review by a Chartered Accountant and filing of the Income Tax Return electronically.

In case you need these services, we would be glad to assist you. Please write to [email protected]

(ii). TDS Return Filing

Tax Deducted at Source, as the name suggests, is the tax deducted at the time the income is received by or credited to the “person” so that collection of tax is preponed and there is regular flow of taxes to the government. TAN or Tax Deduction and Collection Number (TAN) is mandatory 10 digit alpha number required to be obtained by all persons who are responsible for Tax Deduction at Source (TDS) or Tax Collection at Source (TCS) on behalf of the Government. TDS is deducted on various types of income such as salary, interest on bank deposits and bonds, winnings from lotteries and horse races, payment to contractors and sub-contractors, insurance commission, commission or brokerage, rent, fees for professional and technical services etc. TDS has to be deposited to the credit of the Central Government and TDS Returns should be filed within due dates prescribed by the Income Tax Act, 1961. TDS Certificates have to be issued by the detector giving details of tax deducted. TDS returns are due quarterly.

We offer service to clients who are looking for faster and affordable services for TDS compliances and advisory. We shall take care of your TDS compliance of tax calculation, tax payments, filing of TDS return and give you update on TDS changes. We shall ensure that all legal and administrative and tax planning aspect of TDS compliances are taken care. File TDS return on or before due date to avoid penalty and noncompliance.

In case you need these services, we would be glad to assist you. Please write to [email protected].

(iii). Scrutiny Assessments/ Appeals

We provide representation services to clients at all levels of tax hierarchy. We at S.V. Bhat & Co., have experience for more than 30 years in respect of resolving assessment notices, attending scrutiny assessments, drafting appeals and appearing before the CIT.

In case you require our professional services, please write to [email protected].

2. GST

(i) Filing Returns

(ii) GST Audit/Notices

(iii) GST Refunds

(iv) GST Consultation

Goods and Service Tax (GST) is comprehensive Indirect Taxes levied by the government on sale of goods or provision of services in India. This law was introduced in 2017 subsuming the erstwhile laws such as excise duty, service tax and VAT, etc

The GST law now governs most of the indirect tax system in India. Suppliers registered under this regime must meet the compliance requirement regularly. Depending on the turnover and activities, the requirements and the period of presentation of the declarations are prescribed by law.

We at S.V.Bhat & Co., are providing various services under GST laws. Some of them are

Registration, modification or amendment under GST Act
Filing GST returns as listed below
Audit under GST laws
Attending to the Notices issued under GST Laws
Consultation and advise on GST matters
Assisting in obtaining GST Refunds

We at S.V.Bhat & Co. have been working with the clients from different industries such as Information Technology (IT), manufacturers, real estate , Ecommerce, traders, hospitality etc.. In case you need these services, we would be glad to assist you. Please write to [email protected].

Return Type	Description	Frequency
GSTR-1/IFF	Details of external supplies of goods and / or services subject to affected taxes.	Quarterly/Monthly
GSTR-2A/2B	Details of the internal supplies of taxable goods and / or services made claiming the entry tax credit.	Monthly
GSTR-3	Monthly statement based on completion of details of external and internal supplies along with tax payment.	Monthly
GSTR-3B	Simple declaration in which the summary of external supplies is declared together with the entry tax credit and the taxpayer affects the payment of taxes.	Monthly/Quarterly
CMP-08	Declaration-cum-challan to make a tax payment by a registered taxpayer under the composition scheme under section 10 of the CGST Act (supplier of goods) and the CGST notification (Fee) no. 02/2019 dated March 7, 2020 (service provider)	Quarterly
GSTR-4	Declaration for a taxpayer registered under the composition scheme under section 10 of the CGST Law (supplier of goods) and the CGST notification (Rate) no. 02/2019 dated March 7, 2020 (Service Provider).	Annually
GSTR-5	Declaration for a non-resident foreign taxpayer.	Monthly
GSTR-6	Return to an input services distributor to distribute the eligible input tax credit to your branches.	Monthly
GSTR-7	Declaration for government authorities that deduct taxes at source (TDS).	Monthly
GSTR-8	Details of the supplies made through electronic commerce operators and the amount of taxes collected at source by them.	Monthly
GSTR-9	Annual return for a normal taxpayer.	Annually
GSTR-9A	The annual return must be filed by a taxpayer registered under the composition lien at any time during the year.	Annually
GSTR-9C	Certified reconciliation statement	Annually
GSTR-10	The final return must be filed by a taxpayer whose GST registration is canceled.	Once, when GST registration is cancelled or surrendered.
GSTR-11	Details of internal supplies to be provided by a person with a UIN and requesting a refund	Monthly

3. ROC/ MCA Compliances

Doing Annual Compliances for a registered Company/LLP is legal compliance. Failing in ROC filing may result in making liable for late fees , make the registered entity defunct or remove name from ROC. Majorly directors/partners may also become disqualified for non compliance. Therefore ROC compliances are a crucial part of maintain a Company/ LLP.

We provide services in the following areas in India -

Incorporation of Limited and Private Limited companies, One Person Companies (OPC), Limited Liability Partnerships (LLPs)
Secretarial Services including effecting changes in Memorandum, authorized capital, name, objects, partner or director addition/deletion
Drafting of Board Notices and resolutions
Annual Return filing with Registrar of Companies (ROC)
Director KYC, DPT-3 Filings, MSME Filings
Due Diligence (DD) – Financial, Accounting and Legal
Charge creation and satisfaction of charge
Company winding up services
Conversation of an entity to private limited or vice versa

We S.V.Bhat & Co.,have been providing Company Law services to various industries such as Information Technology (IT), manufacturers, real estate , traders, Ecommerce, hospitality etc.. In case you need these services, we would be glad to assist you. Please write to [email protected]

4. Maintain Accounts and Book Keeping

Robust accounting practices is a must-have for all business in order to ensure that accurate financial data is provided to Management, Regulators, and Investors. It is a mandatory requirement to submit financial records with various essentials filings, and the same is required for tax assessments. Irregular accounting could thus become the bane of business.

Reasons for accounting:-

The following are the primary reasons why enterprises should keep good accounting practices –

Statutory Compliance– Details of financial transactions are required to be submitted along with various regulatory filings and thus needs to be tracked throughout the course of business.
Managerial Decision Making– Robust accounting provides businesses with the financial data required to make better business decisions. Effectiveness of campaigns, product lines, etc. can be easily tracked through good accounting.
Investor Green-signal– Well maintained accounts of an enterprise help inspire confidence in prospective investors.

We S.V.Bhat & Co.,have been providing accounting services for over 30 years to various industries such as Information Technology (IT), manufacturers, real estate , traders, Ecommerce, hospitality etc.. In case you need these services, we would be glad to assist you. Please write to [email protected]