Income Tax Returns | CA in Mumbai | Chartered Accountant | ITR Filing

CA Mumbai (38)

Rated among Top 100 CA in Mumbai - Best CA Mumbai by multiple websites such as Justdial, Webindia, Topcafirms.com, etc. In India, CA (Chartered Accountants) are regarded as the maestros of Accounts and Taxes, just as Sachin Tendulkar is for Cricket! This is because it is the most comprehensive course that allows gaining extensive knowledge and three long years of practical experience and exposure in planning income and investment portfolios, calculating taxes and filing ITRs under the mentor-ship of an already experienced CA (Chartered Accountant). In fact, with the advent of comprehensive online tools in the COVID era, there are a lot of applications and websites that provide both automated and manual support to plan and calculate taxes. But there are still a lot of factors that need to be considered before settling on a CA (Chartered Accountant) to plan the tax liability on one’s hard earned money. Let’s have a look at some of the factors that are noteworthy before finalizing on a CA (Chartered Accountant) / Tax Advisor: 1. Finding out the entity’s status: This is an important step since this requires assessment of the status of the taxpayer. This is because there are varied complexities in every type of entity which needs to be addressed accordingly by a relevant tax expert. See the following scenarios: Individual Status: If the taxpayer is an individual, he/she can refer to an CA (Chartered Accountant) who primarily has expertise in Direct Taxation. Corporate Status: If the taxpayer is a corporate entity, the Directors of the company might want to refer to a more seasoned CA (Chartered Accountant) / Tax Advisor who primarily has expertise in both Direct Taxation and Indirect Taxation, in addition to Corporate Tax, as well as Provident Fund, Employee State Insurance advisors, etc. Others: If the taxpayer is a Partnership Firm, LLP, etc., the partners or members might have to refer to a blend of above. 2. Assessing whether the Income and Tax Structure of the entity is complex enough to hire a CA as the fee charged may or may not be justified to the taxpayer. Following the above scenarios, an individual might just as for guidance from an CA (Chartered Accountant) in the family or friends in case the assess able income is not too big, whereas a firm or a company might need a proper team of expert advisors to mitigate the tax burden at a large level. 3. Not every CA (Chartered Accountant) is specialized in the field of taxation. Taxation is an extensive field with various branches. Finding someone experienced and specialized in the branch that a person needs help with is quite important. This could be understood in terms of the large different types of tax advisors that exists, viz., Income Tax, Gift Tax, Wealth Tax, Capital Gains Tax, Corporate Tax, GST, Customs & Excise, etc. 4. It is necessary to ensure that the CA (Chartered Accountant) is always available and updated in terms of the recent Income Tax Notifications or the ever so changing Income tax Return Forms to address any immediate changes in the taxpayer’s income or status. For example, a Capital gain somewhere in the middle of the year could change the calculations and planning of taxes and give rise to a requirement to pay Advance Tax. 5. A few common factors such as the past experience and area of practice of the CA (Chartered Accountant), the clients or industries they have served, the reasonability of the fee charged with respect to the general market fee, an example of a fruitful advise they gave to some client which was a turnaround for the client’s tax burden. Choosing a CA (Chartered Accountant) carefully is important because the person entrusts all the income details and their sources to them. So, the focus should be on to retain the same person for as long as they can be as that would ensure no scattering of personal information to a lot many people again and again. This also helps in maintaining a close relationship to build trust and faith in each other. So, keeping these small things in mind will help a taxpayer go a long way in finding a perfect advisor, consultant and a partner!

Business Hours

We are open for Business during these hours: Mon: 10:00 AM – 8:00 PM Tue: 10:00 AM – 8:00 PM Wed: 10:00 AM – 8:00 PM Thu: 10:00 AM – 8:00 PM Fri: 10:00 AM – 8:00 PM Sat: 10:00 AM – 8:00 PM Sun:…

Our Location

1001 CHARKOP, MAHAVIR NAGAR, KANDIVALI WEST NEAR KANDIVALI RAILWAY STATION MUMBAI, MAHARASHTRA 400067 Phone: 9769760917 For all your Income Tax Needs - Find us here ca firms in mumbai, top ca firms in mumbai, ca firms near me, chartered accountant in mumbai, ca in mumbai,…

Our Services

Income Tax returns

An income tax return is a form where taxpayers declare their taxable income, deductions, and tax payments. This procedure of filing income tax returns is referred to as income tax filing. While filing the return, the total amount that should go to the government as income tax is calculated. If you've paid more tax than needed for the financial year, you'll be refunded by the income tax department. Sometimes, you may also see that you have underpaid taxes for the year. In such cases, you must pay the remainder of the tax, and file your income tax returns. Income tax return form ranges from ITR 1 to ITR 7, used for different types of income. Some income tax return forms are longer than the others, and they may need additional disclosures such balance sheet and a profit and loss statement information. PRICE quoted above is the Starting Price ONLY. Please call us for complete details.

Crypto Tax Advisory

  • Maintaining and updating crypto holdings/portfolio
  • Advice on possible tax efficiencies
  • Maintaining robust documentation
  • Computation of tax liabilities and
  • Compliance

Crypto Tax Compliances

  • Ascertaining type of ITR (Income Tax Return) applicable
  • Accurately reporting different crypto incomes
  • Verification and uploading of Income Tax Return assesment

Crypto Tax Assessment

  • Responding to notices issued by the Income Tax Department
  • Representing clients during Income Tax hearings
  • Negotiation and assistance in completion of assessment

Financial Advisory Session

This meeting is to listen to you & to understand your goals, concerns, challenges, aspirations, risk appetite etc. The reason is: we do not know anything about you. We don't know whether you are single / married, whether if married, your wife works or not, whether you have one child/ two children, whether your parents are dependent on you or not, whether there is a younger brother/sister whom you are supporting, whether you intend studying further ? We don’t know your current investments, cash flows, EMI’s etc. Till the time we don't have a complete picture we would actually be doing a dis-service to you by giving any advise or working on any strategy to improve your financial well being. The first session is completely Free.

FEMA Compliances

Comprehensive Financial Planning in Mumbai

Price Varies - Call for a Quote

Sole Proprietorship Registration

The Proprietor must be an Indian citizen and a Resident of India. There is no approval required prior to the commencement of business. But, Non-Resident Indians (NRI) and Persons of Indian Origin can invest or start sole their proprietorship business only with prior approval of the Government of India. Sole Proprietorship is an unorganized business structure and there is no specific law enforced for the said registration. We provides services for Sole Proprietorship registration under MSME (Micro, Small and Medium Establishments) Development Act, 2006 of Central Government. The business entity must fulfill the registration requirement.The registered entity under MSMED Act can avail subsidies, incentives, and schemes launched by the Central Government with respect to the specific Business on the basis of a registration certificate.

Partnership Firm Registration

The Partnership Act provides that both registered and unregistered partnerships are valid and recognized by law. Partnership registration is not compulsory but is beneficial due to effects of non-registration. Mostly, the businesses at initial level prefer unregistered partnership till they reach stable level. The unregistered partnership can be registered at any time after its formation. Formation of Partnership Firm does not require any minimum amount. It can be started with any amount of capital contribution by the partners. Only a registered partnership firm can claim a set off (i.e. mutual adjustment of debts owned by the disputant parties to one another) or other proceedings in a dispute with a third party. Hence, it is advisable for partnership firms to get it registered. The application for Partnership Firm Registration in India is submitted with the Registrar of Firms (RoF) under whose jurisdiction the Place of Business of Partnership Firm falls.

Limited Liability Partnership Registration

LLP is the upgraded version of Normal Partnership Firm. Limited Liability Partnership has been introduced by the LLP Act 2008. Limited Liability Partnership has an easy structure as compared to the Private Limited Company. LLP is suitable for Consultants, Advisers, and Lawyers/Professionals. LLP registration is very pocket-friendly in terms of increasing the Capital, Annual returns and legal compliance etc. There is no need to appoint a Statutory Auditor if your annual turnover is less than 40 Lakhs. If you are planning to register the LLP, make sure that you file an annual return on time. There is no Dividend Distribution Tax on the distribution of profits to its partner. The partner can freely lend loan and borrow the loan from LLP without any Compliance issue.

Private Limited Company Registration

Private Limited Company is a most popular business structure in India, Startup always runs towards the Pvt Ltd Company registration. It has separate existence than its Members and Directors. The Liability of its Members is limited to their Capital contribution in the Company. Venture Capital funds are easily available for Pvt Ltd Company. The operation of the Private limited company registration is more organized than LLP/OPC. More than 90% of Indian Startups have opted for the Private limited company. After Private Limited company registration, you can raise the funds from investors. External funding is not permissible in any other legal structure. You can easily scale your business after forming a private limited company. Private Limited Company is eligible for 3 Years tax benefits under the Startup India Program.

One Person Company Registration

One Person Company (OPC) has been introduced by Companies act 2013. It is a more latest corporate structure in Proprietorship. In OPC Structure you will get almost all the benefits of Private Limited Company so it is advisable to start a Sole Ownership. There is no dividend tax on profit distributed to its owner in OPC. Furthermore, OPC is eligible for Startup India Program and can enjoy tax-free status for 3 years.

Public Limited Company Registration

Public Limited company is a broad level association of members who intent to float a company with a mission of IPO etc. Public limited Company has the benefit of raising fund from Public. But this structure is NOT suitable for the early stage startup. The Annual Compliance cost of the Private limited company is less as compared to a public Limited company, so we would strongly recommend to start a business as Private Ltd. For Public Limited Company Registration, the minimum number of directors must be three and a minimum number of shareholders must be 7.

Chartered Accountant Services in Mumbai

Accountancy: This includes the writing up of accounts and the preparation of financial statements. It encompasses a wide area ranging from simple Book keeping to complex financial analysis. Auditing: The purpose of auditing is to satisfy the users of financial statements that the accounts presented to them are drawn up on correct accounting principles and that they represent a true and fair view of the state of affairs of the organisation. Taxation: The assessment of taxes is very closely linked with financial accounts. We as Chartered Accountants with our experience in accounts & taxation offer to prepare the returns for tax purposes, represent assessees before the Income-Tax authorities and rendering general advice on taxes to our clients. We also undertake Special Company Work such as the formation, financial structure and liquidation of limited companies. We undertake complete Secretarial and Registration work.

CA Services in Mumbai

Management Accounting: We render this CA services which is utilized in a variety of ways like formulation of policies, day to day control, performance evaluation, etc. We offer Companies Secretarial Work to small and medium enterprises. The advantages of having a Chartered Accountant on the Board of Directors are now well recognised and we are open to to take such position and provide immense value to these organisations.

GST Registration in Mumbai

It is mandatory for any business whose aggregate turnover in a financial year exceeds Rs 20 lakhs to get GST Registration under Goods and Services Tax. This limit is set at Rs 10 lakhs for North Eastern and hilly states flagged as special category states. Also, the definition of taxable turnover has been changed to aggregate turnover. PRICE quoted above is the Starting Price ONLY. Please call us for complete details.

GST Returns

All individuals registered under the GST Act has to furnish the details of the sales and purchases of goods and services along with the tax collected and paid. This can be done by filing online returns. GST Returns are the Goods and Services Tax Return forms that taxpayers of all types have to file with the income tax authorities of India under the new GST rules. PRICE quoted above is the Starting Price for one month of filing returns. Please call us for complete details.

GST Nil Return

GST Zero Return

Rectification in GST Details

Price varies depending upon type of rectification sought

Deduct TDS on NRI Under Section 195

As per Income Tax Act 1961, Any person responsible for paying to Non Resident or Non Resident Indian, neither being a company nor being a foreign company, of any interest or any other sum chargeable under the provisions of Income Tax Act, 1961 (Excluding income chargeable under the head “Salaries”). Any such payment shall at the time of credit of such income to the account of payee or at the time of payment through any mode i.e. Cash, Cheque, Bankers Cheque, Demand Draft or any other mode should deduct TDS at prevailing TDS Rate under section 195.

NIL / Lower Tax Deduction Certificate for NRI

NRI seller can produce NIL / Lower Tax Deduction Certificate under section 195 & the applicable TDS rate will be as per certificate issued by the income tax department. The original certificate will be retained by the buyer. To obtain NIL / Lower Tax Deduction Certificate under section 195 is sole responsibility of NRI Seller.


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