Sidharth Jain
Chartered Accountant
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Chartered Accountant
Company formation and registration is must to all types of company whether it is private or public, small or big to get registered under company's act 1956 in India. As like all other rules and regulation there are different procedure and rules exists for company registration in every country. In India company registration is one of the famous company services that provide some extent of benefits while carry business in different parts of the globe.
Though the procedures and rules are not so complicated incase of company registration in India, it may be a stressful and time consuming process since lot of laws and rules are involved in it. There are many law companies in India that offers wide verities of company services that provides services in different sections of company services like Central Excise Registrations Income Tax Returns, LLP Formation, Private Limited Company, Public Limited Company, Section 25 Companies, Foreign Company, One Person Company, Accounting Services, Partnership Firm Registration, Employees Provident Fund, STPI Registration, Small Scale Industries Registration, VAT Registration, ROC Returns, Service Tax Registration, company trademark registration, copyright registration and lots more. These companies offer their clients complete package of company law services and solutions at affordable rates and also quick turnaround time.
Starting a business is a multi-step process that can feel overwhelming when you're on your own, but we'll make it easy to stay organized and on track while you start your business and achieve success. Whether you're refining your business idea, filing for permits and licenses, drafting your business plan, or looking for funding, we have the tools you need to do it right and get it done. If you're ready to start your business but need a helping hand, why not take the Start a Business in 30 Days challenge?
Auditors of privately owned businesses must follow a code of conduct. As an auditor, you abide by your state's code of conduct, but you also follow the code of conduct established by the American Institute of Certified Public Accountants (AICPA) — the national professional organization for all certified public accountants (CPAs). You don't have to be a member of the AICPA to be a CPA. However, if you're serious about your profession, membership has many rewards, such as automatically informing you about new accounting and auditing standards.
The AICPA is responsible for establishing auditing and attestation standards for private companies in the United States and for enforcing a code of professional conduct for its members. You provide an attestation service when you issue a report on a subject that is the responsibility of another person or business.
In the past, companies often relied on accountants from their audit firms to assist in reconciling accounts, preparing the adjusting journal entries and writing financial statements.
Small companies, in particular, often lacked the level of accounting sophistication necessary to carry out these tasks. Relying on the audit firm often made sense from the perspective of efficiency and cost containment.
But an increased focus on auditor independence has come about during the last decade in new requirements by the American Institute of CPAs and a host of related regulatory guidance issued by the Securities and Exchange Commission, the General Accounting Office and the U.S. Department of Labor.
The standards generally restrict the nonattest services – such as tax or consulting services – that auditors may perform and the circumstances under which those services may be allowed. The increased regulations serve to muddy an already often-misunderstood set of expectations.
A corporate compliance program is a system which isdesigned to detect and prevent violations of law by the agents, employees, officers and directors of a business. Although we use the general term "corporate compliance",the need for an effective compliance program is not limited to corporations. Any form of business entity is well served by having an effective compliance program.
In 1991, the federal government enacted the Organizational Sentencing Guidelines (Chapter 8 of the Federal Sentencing Guidelines), in an effort to make the penaltiesfor corporate crime both uniform and predictable, so as to encourage "good corporate citizenship".
Penalties under the guidelines include fines and imprisonment, as well as "corporate probation", which is mandatory in the case of a businesswhich does not have an effective compliance program in place. Probation involves intrusive federal monitoring of the organization and adoption of a government authored compliance program, which can be far more expensive and invasive than a voluntary compliance program could have been.
The Guidelines take a carrot and stick approach in order to encourage businesses to police themselves. Each crime or violation is assigned a base fine, which is either increased or decreased based upon the presence of certain aggravating and mitigating factors. One such mitigating factor is the existence of an effectivecorporate compliance program.
When an employer outsources or transfers all or part of the accounting processes to an external service provider, it is called Accounting Outsourcing. Some of these functions include Bookkeeping, General Accounting and Write-up, Tax Returns Filing, Sales Tax and 1099 Return Processing, Payroll Processing, Financial Modelling, Analysis, and SEC reporting. A specialized Accounting Outsourcing firm such as Span Outsourcing invests in the most efficient technology, people and processes to standardize the accounting process. Outsourcing accounting functions to an accounting service provider tremendously enhances efficiency, cost, service, and speed of the accounting process.
Small businesses are required to pay taxes just like everyone else, but they face more complicated filing requirements and typically have quarterly or monthly deadlines. FindLaw's "Business Taxes" section includes information about your tax obligations and benefits (such as valuable deductions and incentives). This section will help you prepare for a business audit, understand which tax forms are needed, take advantage of significant tax deductions, learn the difference between current and capital expenses, and more. See FindLaw's Tax Law section for more general information about state and federal.
Paying taxes in India can be a complicated matter, and it's recommended expats consult a tax specialist to facilitate the matter. Each taxpayer, whether expat or local, is allocated a unique identifying number called a Permanent Account Number (PAN).
All taxpayers, including non-residents, must apply for PAN if their taxable income exceeds the maximum amount not chargeable to tax, or any person carrying on a business or profession whose total sales, turnover, gross receipts exceed or are likely to exceed Rs. 500,000 in any previous year.
The Foreign Investment Promotion Board (FIPB) offers a single window clearance for applications on Foreign Direct Investment (FDI) in India that are under the approval route. The sectors under automatic route do not require any prior approval from FIPB and are subject to only sectoral laws. This e-filing facility is an important initiative of the FIPB Secretariat to further enhance its efficiency and transparency of decision making. The present portal is an upgraded and more secure version. Once the e-filing of the application is completed, the application needs to file/courier only SINGLE copy of the printed version of the online application, along with the duly authenticated copy of the documents attached with the application. This portal offers the additional features such as: e-communication, quicker processing, reduced paperwork, SMS/email alert and many more. Before you log in for the online application form, please take some time off to register with us.
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