Section 44AA of Income Tax, 1961 requires that if you are a professional
|Technical Consultants||Interior decorators|
|Film Artist||Information technology professional|
You have to compulsorily maintain accounts along with a host of other documentation.
Section 271A of Income Tax Act imposes a penalty of Rs. 25000/- if prescribed records are not maintained.
We cater as a SOHO (Small Office Home Office) for busy professionals like you. We advise you on documentation needs and maintain accounts on your behalf. We will also help you to optimize your taxes through proper planning, assess and pay your advance taxes and income taxes, and file your Income Tax Return on time. We will also do necessary liaison with the Income Tax Authorities so that you can concentrate in your area of expertise.
Professionals except Doctors and Lawyers are subjected to Service Tax implications provided their receipt in a particular year exceeds Rs. 10 Lakh. We will advise you on your Service Tax liability (if any), get you registered, assess your service tax needs, pay it as per legal stricture and file necessary Service Tax Returns.