Accountant in India

Updated on Friday 15th July 2022

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Financial operations related to a company’s accounts or other money-related matters require special attention, especially when operating as a foreigner in India. The help of a specialist can also help one understand how the taxation system here works.

An accountant in India is one of the experts you will want to rely on no matter the type of financial transactions you want to complete.

Our company formation specialists in India work with accredited accounting professionals in order to offer complete services to local and foreign investors and business owners, and below, we invite you to discover some of these services.

Accounting services available in India

Accounting is made of several branches, which is why the services associated with them are the same. However, in order to provide a simplified picture of what you can rely on when seeking an accountant in India, here are the most important ones:
  1. tax and GST (VAT) registration which is are two important steps when starting any type of business in India;
  2. bookkeeping and accounting which are the second most requested services in India;
  3. payroll and HR solutions for companies hiring local or foreign employees;
  4. audit services are also available for companies requiring various types of audits
  5. financial statement drafting and filing services in accordance with the deadlines provided by the law.

The Goods and Services Tax is the equivalent of the value added tax in Western countries, so when coming to India and dealing with this levy, you can rely on our local specialists. The regulations associated with it are the same as in all other countries, as this is an indirect tax companies need to register for.

We remind you that we have a mixed team of company registration and accountants in India, and we can offer tailored solutions to small, medium, and large-sized enterprises operating here.

Tax registration assistance from our accountants in India

If you want to know how to form a company in India, the simplest answer is that the procedure is the same as in any other part of the world and it implies preparing the documents based on which the Companies Register will issue the business’ Certificate of Registration, followed by obtaining the tax registration and GST number, as well as by applying for the required business license or permit, in accordance with the sector of activity of your enterprise.

While our company formation agents handle the incorporation procedure, our accountant in India will take care of the tax and GST registration formalities, so that you can start your operations right away. Obtaining a tax identification number is simple and can be completed in a few days, thus gaining more time with the licensing procedure which is lengthier.

Obtaining a tax number implies filing the company’s registration papers with the Central Board of Direct Taxes in India.

Tailored bookkeeping and accounting services in India

Perhaps one of the most important tasks of an accountant in India is maintaining a company’s financial documents in order. This implies accurate bookkeeping and accounting which must respect the regulations imposed by the Accounting Standards.

Local companies usually choose to work with external accounting firms in order to skip the formalities of seeking and hiring an in-house accountant or to form a department that requires office space and resources.

Our experts will dedicate their attention to your needs, thus removing the pressure of making sure the company’s accounts and records are up-to-date and filing deadlines are respected. Moreover, you can also rely on us for audit services in accordance with the standards imposed here.

If you want to start a business in India, with us you can find the necessary support to conduct your operations without having to worry about any of the legal or accounting aspects.

Meeting filing deadlines in India

Indian companies must comply with Section 92 and Section 137 in the Companies Act when it comes to filing statements that must reflect their financial standing. This is one of the most important services our accountants in India can help you with. Here is what you need to know about these requirements:
  • companies must file audited financial statements no later than 30 days from the annual general meeting of the shareholders;
  • forms 23AC and 23ACA represent the balance sheet, respectively the profit-loss account and must be filed by all companies;
  • form 20B is the annual return that must be filed by companies with share capital;
  • form 21A is the annual return that must be filed by companies without share capital;
  • form 66 is the compliance certificate that must be filed by companies with specific share capital.

For a detailed list of all our accounting services, please contact our accountants in India.