Akash Janrao and Associates
Providing our clients with a full range of high-quality services in Auditing, Accounting, Direct & Indirect Taxation, Startup Services and NRI Tax & Investment Services.
SERVICES
Helps clients by understanding the increasing complexity of the regulatory environment, the need for greater transparency in operations and disclosure norms.
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Audit Assurance Services
Today, Corporate and Individuals both are required to comply rigorously with numerous essential Income Tax Compliances.
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Direct Tax Advisory Services (Income Tax)
The introduction of Goods & Services Tax (GST) in India effective July 1,2017 has been the most important change in the country’s Indirect Tax.
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Indirect Tax Advisory Services
(GST)
These services helps our clients to offload the complex and technical aspects of business on us leaving them with more time
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Book Keeping / Accounting Services
We at AJA, provide Start-up Services, as a single window solutions for incorporating the company and start-up advisory services.
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Startup Services / Setting Up Company in India
Generally, an NRI is a person resident outside India who is a citizen of India or is a person of Indian origin. However there are different definitions of NRI under FEMA and Income Tax.
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NRI Tax & Investment Services
Building Strong Futures
An important task of operating any business is to take care of the finances. Irrespective of the size and type of the firm, every business needs a Chartered Accountant for meeting financial obligations.
Our Practice
We are one of the renowned CA firms in Pune with a team of experienced accountants and committed professionals that work for national and international clients from different walks of life. Our client base consists of companies from Information Technology, Engineering Services, Manufacturing, Travel & Tourism, and Entertainment, to name a few.
Our Strategy
We strive to fulfill all our client needs under one roof, right from audit-related compliance to Taxation services. We always work towards development where knowledge is at the core.
Our Methodology
We study your business from scratch so that we can develop an understanding of your business. This enables us to anticipate and meet the changing needs. Our team offers solutions that prepare you to manage unique challenges in your business.
About Akash Janrao & Associates
At AJA, we are proud to be among the top Chartered Accountant Firms in Pune. We are committed to deliver the most robust and dynamic Taxation, Auditing, GST, Startup Advisory, Book Keeping & NRI Services to our clients through our experience, analytical approach & understanding.
Our comprehensive range of services has been designed by our talented accounting experts to deliver excellent results every time. We focus on maximizing your bottom line through resourceful thinking and strategy development. We offer complete audit and assurance advisory services, as well as general accounting and bookkeeping services to keep your business running smoothly.
If you have become a non-resident Indian, AJA can provide NRI Tax Consultation to advise you on the ideal ways to manage your taxes and investment.
Audit and Accounting Made Easy with Akash Janrao and Associates
Accounting Firms are specialized industries that consist of accounting professionals. These are the accounting experts providing holistic accounting and audit solutions to specific clients. The trained accountant is the one who is responsible for taking note of the financial statements regarding financial transactions. They are entitled to the job of generating digital receipts and invoices for each financial transaction. There are several efficient accounting and CA firms all over India, with Pune being the major sector of discussion.
What is the Need to Hire CA Firms in Pune?
Pune is a neighbouring city of Mumbai. Pune has witnessed some amazing development, especially in the field of technology. We can also notice various industries and businesses expanding their foot in Pune. Every business requires efficient management of finances, which can be done with the help of top CA firms. CA firms guide and assist clients in complying with their auditing needs.
Some of their services consist of tax audits, verification of financial transactions, fraud investigation, and verification of vouchers. They also help with foreign exchange remittance certifications. All the above-mentioned services are offered by one of the renowned CA firms in Pune i.e. Akash Janrao and Associates.
You can find some of the best CA firms in Pune city that can assist you with audit and taxation services. You will land up on some of the best names when doing a web-based search for top CA firms. And amongst those top names, you will find Akash Janrao and Associates! Any business needs to choose the best CA firm for promising services, and Akash Janrao and Associates can prove to be the right choice.
Top Chartered Accountant in India- Akash Janrao and Associates
Among many Chartered Accountants in India, our top chartered accountant will have some salient features. Having a glimpse of the salient features will enable you to pick the best from the other firms. Every CA associated with our firm has an effective and exemplary work system.
The said person should keep pace with everyday business transactions and generate the digital form of invoices. The financial and tax-related data are to be maintained in chronological order. This helps to retrieve the required data. Our specialized area lies in the sector of start-up businesses. We provide thorough advisories for certain start-up companies in India. The advisories are based on the Government of India's Start-up India Movement. We aim to benefit start-ups. We also design appropriate business models for the start-up companies keeping in mind the capital investors for the start-up businesses.
Many Indians are staying abroad and are associated with various types of businesses all around. Another specialized area of our services is that we give ample importance to designing a certain business structure for NRI's. We focus on various NRI consultation services and those associated with tax filing.
We have several audits and advanced assurance services from our end. We try to deliver the best of these services to our clients with our analytical approach. We possess ages of experience with a comprehensive approach to the financial management of a business. This helps us to be the talk of the town in the domain of accounting and auditing.
Advantages of Hiring Chartered Accounting Firms
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You might be a great businessman or a Fortune 50 company with great business acumen. However, you need a minute understanding of finances for effective management of the business. Lack of financial management can lead to failure. Also, every business needs to comply with tax rules, policies, and regulations. We, as an experienced and top CA firm, can assist you in this. We can make your complex taxation and financial journey a smooth sail for you.
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Maintaining financial records in accounting books is a cumbersome process that takes time. Any businessman needs to look after the core business activities, which leaves no time for such entries. They need to rely on accounting firms to take care of the same. We can meet all of your requirements effectively with the help of our excellent team. Our assistance enables you to focus on business and leave the finance-related issues to us.
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We not only look after the finances but also come up with strategies. The success of any business depends on finances as well as strategies. Our firm has experienced professionals who specialize in various fields. Their wisdom of experience, training, and expertise can help you plan your business. After all, the key to the success of any business is efficient planning.
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We offer impeccable services owing to experts in the field of accounting that grace our team. Their knowledge and skill base for accounting and audit is unparalleled. Their thorough learning offers an intricate understanding of various approaches to taxation as well as a financial mechanism.
CA firms have trained professionals who are adept in maintaining audits of specific entities. They analyse and evaluate the financial transactions of any business. CA professionals have the calibre to tackle the challenges and come up with solutions. They have the required acumen and understanding. This enables them to improve your existing business with the strategic framework, which ultimately helps in enhancing the profit margins.
Accounting firms are at the core of the businesses as they help in the expansion and growth of any firm. They can help any business establish a strong foundation with their committed CA team.
Akash Janrao and Associates is the only solution to all the tax and audit-related issues. We support all the start-ups that have the capacity of turning out to be successful businesses near future.
You're probably
wondering...
FAQ
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How can Accounting Service will help my business?A book keeping and accounting service can assist you to keep track of all expenses so that the tax preparer can send over the necessary paperwork. You can get a clear picture of your company's financial health if you hire an efficient accounting service.
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Is there any option to use it for more than one CA firm?As a chartered accountant in practice, you are allowed to join more than one company as a partner. In contrast, a practicing chartered accountant cannot become a partner in other firms or professions other than practice.
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Where would you find the best Chartered accountants in Pune?Their 50-Point Inspection encompasses customer evaluations, history, complaints, ratings, contentment, trust, pricing and overall quality. In this way, you can find the best one!
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Which 3 accounting items are the most important for a business?Many experts believe the top line, or cash, is the most important component on a company's balance sheet. Other important factors to examine include accounts receivable and short-term investments. A balance sheet includes assets, liabilities, and equity.
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How will outsourcing of Accounting and Finance benefit the business?Outsourcing finances and accounting reduce the time and effort required to manage and supervise your in-house accounting personnel. It will allow you to devote more time and resources to the most important aspects of your organization.
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What is financial accounting and what are its advantages?A company's financial transactions are meticulously tracked in financial accounting. This year's revenue and expenditure are shown in a Financial Statement of Accounts, a technical document that records and summarizes all of the business's activities.
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What are the advantages of accounting services?Accounting, when done effectively, provides abundant information on the health of your company's finances. It's easier to make smart business choices if you have a clear view of your money.
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What is applicability of statutory audit?An audit is required if an LLP's yearly income exceeds Rs. 40 lakh or its capital contribution exceeds Rs. 25 lakh. In addition, a tax audit is required of proprietorships and partnerships that surpass a certain sales threshold.
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What are the important elements to check in the statutory audit of banks?The following are critical items to verify during a bank's statutory audit: Procedure for Cash Verification. Tax-Related Purchases. Loan Accounts Verification. Loan Accounts Verification Preliminary Examination. Disbursement. Inspection Following Disbursement.
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What is the applicability of Section 138 (Internal Audit)?Suppose the Board decides to appoint an internal auditor, in that case, it must be a chartered accountant or a cost accountant or such other professional as the Board deems appropriate to undertake an internal audit of the company's duties and operations.
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Which is the criteria for appointment of an internal auditor?The Board of Directors may appoint an internal auditor who is a chartered accountant, cost accountant, or other certified professional. The internal auditor may or may not be an employee. No matter whether you're a Chartered Accountant or not.
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What is Internal Auditing?What is the purpose of an internal audit? –A company's internal controls, such as its corporate governance and accounting systems, are examined during an internal audit. In addition, financial reporting and data gathering is supported by these audits, which assure compliance with applicable legislation.
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Statutory audit of banks is mandatory?Banks are required to undergo a statutory audit. The Reserve Bank of India (RBI) and the Institute of Chartered Accountants of India (ICAI) jointly designate Statutory Auditors. All banks undergo a thorough audit once a year after the conclusion of the preceding fiscal year.
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What is the Statutory audit?Legally mandated audits of financial accounts and records are known as "statutory audits."... Enterprises that must be audited include public companies, banks, brokerage and investment organizations, and insurance firms.
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What do you mean by 'income earned in India'?In India, all wages are considered to have been earned there. Therefore, even if you charge a fee for a service delivered in India, you are still considered to have earned revenue in India.
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Is Income tax Act applicable only to residents?New provision 6(1A) of the Income-tax Act, 1961. Such a person is considered an Indian resident only if his domicile, residency, or other comparable factors exempt him from taxation in any other nation or jurisdiction.
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What is Income Tax?A direct tax levied by the state on its citizens' income. Income does not merely mean pay. It also covers rental income, corporate earnings, professional gains (such bonuses), capital gains, and "other kinds of income."
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What does the Income Tax Department consider as income?Income tax returns must be filed by everyone who earns any money in a given year. From a wage, firm profits or rental or dividend income to capital gains or interest or any other form of income, all comes under the category person’s income.
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Who is supposed to pay Income Tax?Any Indian citizen under the age of 60 who earns more than Rs 2.5 lakh gets taxed. If a person is above 60 and earns more than Rs. 3 lakhs, they must pay taxes to the Indian government.
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What is the period for which a person's income is taken into account for purpose of Income tax ?A person's annual income is subject to income tax. The year begins on April 1 and ends on March 31 of the following year, which is the tax year.
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How does the Government collect Income-tax?There are three primary methods in which the government collects Income Taxes: Source-Separated Taxes (TDS) Paying Taxes Only Once (TCS) Bank accounts designed for tax-payer contributions.
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What are revenue and capital receipts?Non-operating capital receipts include profits from the sale of long-term assets, capital invested by the owner, and sums received as a loan or from debenture holders. Revenue receipts consist of sales, commissions, and investment interest, all contribute to the company's annual revenue.
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How would a particular transaction of goods and services be taxed simultaneously under Central GST (CGST) and State GST (SGST)?Taxes on all transactions of supply of goods and services will be imposed concurrently by the Central and State governments, save for those transactions that fall below the set threshold limitations.
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What is GST? How does it work?Federal sales tax, the goods and services tax (GST), applies to the price of specified products or services. Upon purchasing a product, a buyer must pay the complete sales price, including GST, which the firm adds.
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What are the benefits of GST?The GST eliminates tax escalation. Composition strategy for a small company A quick and simple internet approach. Less regulations Improvements in logistics efficiency The GST regulates the unorganized sector.
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Will cross utilization of credits between goods and services be allowed under GST regime?It would be able to pay for both products and services using CGST credits if they were earned. Furthermore, in the case of SGST, the possibility of credit cross-utilization would be available.
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What are the major chronological events that have led to the introduction of GST?This timeline summarizes key events in India's GST system. The L K Jha committee introduced VAT in 1974. The MVAT was introduced in 1986. (MODVAT) The Chelliah Committee advocated VAT in 1991. (GST)
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What about the Registration Process?Form 32 - Details about the director, manager, and secretary. An Incorporation Certificate will be issued after the Form is completed and the Corporate Identity is created. eForm 19 requires the prospectus (Schedule II). OBTAIN A CORPORATION CERTIFICATE
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Which taxes at the Centre and State level are being subsumed into GST?The following taxes have been combined at the state level: state value-added tax, sales tax, entertainment tax, central sales tax, Octroi and Entry tax, purchase tax, and excise tax are all examples of taxes
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Who and when an entity has to register?Companies Act, 2013 defines 5 kinds of entities that may be registered when beginning a new business: Sole Proprietorship. LLP. One Man Band. LLLP. Private Limited. Any association or partnership with over 100 members must be registered as a corporation.
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What are the benefits to hiring bookkeeping services?Mission-critical information is provided. As a result, you might save money on your taxes. You may be able to save money on accounting costs. You will save time. You may even see an increase in revenue.
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How can having an outsourced accounting department help me manage my business?Outsourcing accounting is typically cheaper than hiring a full-time person. Help in key activities of the company. The finest software is used. Get accurate information Stricter controls and less fraud
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Which are the best companies for outsourcing bookkeeping and accounting services?Akash Janrao & Associates is one if the best companies for outsourcing bookkeeping and accounting services.
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What are outsourced online bookkeeping services?Typically, a virtual accounting firm is responsible for capturing and summarising your financial information. If your CPA has access to this data, they can help you with your taxes and financial planning going forward.
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Why should large financial companies prefer to outsource bookkeeping or accounting services?Streamlines the Hiring Process and Save Money Save time and effort. Professional Bookkeepers and CPAs Intuitive Scaling of Accounting Automated systems
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Why should outsource bookkeeping, payroll or accounting services?Outsourcing is helpful for budgeting. You may choose the payment plans that work best for you and your company without hiring full-time staff. This allows you to compare your alternatives and pick the best value for money.
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Why need outsource bookkeeping services?Payments may be managed more efficiently and more quickly using the newest cloud-based solutions available via outsourcing. For less than the cost of your firm's outdated equipment, an experienced finance and accounting outsourcing company will be able to deliver modern technology.
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Do Startups Have to Pay GST?Numerous startups are in the service business, which means they are subject to service tax. They may offset the VAT paid on purchases (say, office supplies) against the service tax on their sales under the GST scheme, something they cannot do under the existing structure. As a result, it will significantly boost the startup business, which is mainly focused on offering services. It will result in cost savings, hence improving working capital for cash-strapped firms.
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Is There a Tax Credit for Starting Your Own Business?This plan was open to startups that were established between April 1, 2016, and March 31, 2021. Starting in the first year, such companies would be entitled to a tax credit of 100 percent on profits for three years in a block of seven years, provided that their annual turnover does not exceed Rs. 25 crores in any financial year.
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Are LLC Startup Costs Tax Deductible?The expenditures associated with forming an LLC are tax-deductible, but you must be aware of critical limitations, exclusions, and guidelines in order to deduct these costs legitimately. The Internal Revenue Service (IRS) imposes restrictions on the number of deductions available for LLC starting fees. If your beginning expenditures are less than 50,000, you may deduct up to 5,000 for initial organizational costs.
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Do startups pay taxes?The government has waived the tax that would have been paid on investments in qualifying startups that were more than their fair market value. ... Additionally, investments made by incubators in excess of fair market value are excluded from taxation. Income Tax is levied on the income as per the below-mentioned schedule of Taxes. Type of Business Entity Income and its Tax applicable Proprietorship/ Individual As per Income Tax Slab Rates Partnership/ LLP Firm - 30% of Income Indian Company - 25% of Income
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How to Get Tax Exemption in India for Startups?Exemptions from SECTION – IAC- Eligible startups may claim up to 100% of profits and gains for three consecutive years during a 10-year period, provided that the company's annual revenue does not exceed 100 crores in any of the prior financial years. This tax is referred to as the Angel tax. However, the government has exempted all government-recognized companies from the Angel tax with the latest announcement. Entrepreneurs may now save money on taxes and use it for funding by using this area.
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How do startups get tax benefits?The qualifying period has been extended until the end of March 2022, thanks to Budget 2021. Startups in this category would be entitled to a tax credit of 100 percent on profits for three years in a block of seven years, provided that their annual revenue does not exceed Rs. 25 crores in any one financial year during that time. Only if a startup meets the requirements of an "Eligible Startup" can it use all of the tax incentives available to it.
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How can NRI save tax in India?Non-resident Indians do not have access to several key deductions that are available to residents. A PAN Card is needed to do this. Retain your non-resident Indian status. Use what you have. Interest on a Home Loan
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Who is NRI as per Income Tax Act?Currently, Indian citizens who work or do business outside of India are considered non-residents under the country's tax laws. However, if an NRI spends more than 182 days in India in a financial year, he is considered a "resident" of India.
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Do NRIs have to pay tax?Anyone earning more than Rs 2,50,000 per year, NRI or not, must file a tax return. NRIs are solely taxed on income earned or received in India.
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Is NRI income taxable in India?If they are residents in India, all of their worldwide income is subject to taxation. In the case of NRIs, any income generated or accumulated in India is subject to Indian taxation.
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Is Income Tax Return need to file compulsory Online for NRI for AY 2021-22?If your taxable income exceeds the basic exemption level, you must file an ITR (i.e. Rs 2.50 Lacs in the case of individuals). ITR filing isn't required if your total taxable income falls under the exemption level (section 139 of the Income Tax Act).
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How much do NRI save?Your monthly savings of 75% (from 4.5 lakh) amount to 3.375 lakh rupees, which may be invested in one of the following ways: Equity Mutual Funds INR 1,68,750 lakh/month, or 50 percent of the entire investment.
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How can you tell if an individual is NRI?A resident who spends more than 182 days outside India becomes an NRI. A "resident" is someone who has spent more than 60 days in India in the last year and 365 days in the previous four years.
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Can NRI claim TDS refund?NRIs who file ITRs after the end of India's financial year are entitled to TDS refunds. To get a refund on the bank's TDS, an NRI must assess their own income and tax responsibilities.