Bookkeeping


RKA Accounting and Taxation Support team provides an array of services in bookkeeping, accounting, and taxation, accounting firms, entrepreneurs, and individuals.

Our qualified accounting professionals have a minimum of nine years of national accounting experience and can provide valuable support to your existing accounting department or act as a virtual accounting team depending on the level of support you need. Once we understand and get familiar with your books of accounts and accounting procedures, we can start handle all your routine day-to-day tasks such as preparing Invoices, updating bills, applying customer payments to invoices, issuing checks to outstanding bills, updating and reconciling bank and credit card transactions, maintaining accounts receivable and accounts payable, handling complex accounting systems for multiple location-based organizations and also supporting the preparation of Indian tax returns.

Below is a range of support that our REAs provide to clients across the globe:


Bookkeeping Support Services

ü  Accounting Software Setup

ü  Preparing Chart of Accounts

ü  Accounts Receivable (AR)

ü  Accounts Payable (AP)

ü  Bank & Credit Card Reconciliation (BRS)

ü  Inventory, Payroll

ü  Fixed Assets & General Ledger


Accounting Support Services

ü Books clean-up

ü  Monthly, Quarterly, & Year-end Reviews

ü  Preparing Financial Statements

ü  Preparing Adjusted Trial Balance

ü  Getting Reports (Book & Tax Purposes)

ü  Management Reporting

ü  Financial Analysis


Tax Support Preparation Process:

The following is the process followed for tax preparation (Only for India):


Our Responsibilities:

1Tax preparer prepares the tax return and updates the current year’s working papers

2. The reviewer reviews the tax return and makes a list of open items

3. We update work status on a day-to-day basis for you

4. Move the completed files (workings) from the local system to Client FTP or Server for review

Goods & Service Tax


Good and Service Tax is the largest Indirect tax reform in India which is going to impact the way business is carried out at pan India level. It’s going to replace almost all the existing Indirect tax or levies like Excise Duty, Service Tax, VAT, Entry Tax etc. Its impact will vary across the different kind of businesses.

Dual GST structure enhances the overall complexity which can be mitigated through a robust IT system. It’s imperative and high time for companies to gear up and assess the likely impact of GST on their kind of business.

Old age concepts like “Sale”, “Manufacturing”, “Stock Transfer” needs to be unlearned and new terms like “Destination”, “Consumption”, “Place of supply” to be learned.

Now, almost whole India will be one market, breaking the boundaries of erstwhile State specific indirect taxes.


Our scope of services under GST regime

v   Impact Analysis

Our team of experts will understand your business and carry out an impact analysis covering all the important aspects i.e. working capital requirement, logistic issues, job work vs. In-house, procurement, Maximum Retail Price.

v   Transition Support

For existing registered entities under various Indirect tax laws, there would be an automatic transition to GST regime. The transition process will require assessment of situation and positions of taxation liability under existing laws. We’ll work out the strategy for transition to GST and its likely impact on the closing balance of tax obligations and benefits.

v   Regular Compliances

Once GST is made applicable and transition process is complete, our next role would be to support you in regularcompliance under GST which includes but not limited to new registrations, amendments in existing registration, calculation of periodical tax liability, preparation and filing of tax return, tax assessment etc.


Why RKA is the best choice for GST?

ü  Extensive experience of handling Indirect Taxes on pan India level. There are many clients for whom we take care of tax compliances.

ü  Strong team of energetic and experienced professionals

ü  Best Indirect tax experts are part of our professional alliance network.

Direct Tax


Continuous development and increasing complexities in economic environment leads legislators to bring rapid changes in tax laws. We are providing in-depth and well thought advice to our clients by analysing the changes. Our professional’s motive “AS TRUSTED ADVISORS” is as important as ever. Whether are you thinking for a restructuring of your business or coming to terms with frequent changes in tax regulations, our professional team will admire you how to confront and navigate through those situations and provide with an accurate and deep insight to meet business needs.

We advise our clients on major developments in taxation regimes occurring periodically and their effect on business. Apart, our multi-disciplinary tax team helps you in corporate tax advisory and overall tax planning.


CORPORATE TAX ADVISORY

From a national perspective, it is generally believed that Indian Income-Tax Law offers a hostile reception. Further, with the introduction of concepts such as Indirect transfers, GAAR and others, the Tax challenge is likely to escalate.

We understand the impact of developments in tax and regulatory aspects and strategically use them to the benefit of business activities conducted by you. Our services include the following:

ü  Designing Entry strategy from a tax and regulatory perspective

ü  Tax planning for corporate restructuring, amalgamation, demerger, slump sale, divestures and other major corporate moves.

ü  Tax planning strategies for profit and dividend repatriation.

ü  Legal opinion on Direct Tax Law and Procedures.

ü  Advising on withholding tax obligations on payments.

ü  Advice on corrective measures required under different Direct Tax statutes.

ü  Advice on structuring remuneration packages for employees and on cost saving opportunities so as to minimize the tax bill in the hands of employees and maximize their take home pay, and also ensure that the entire remuneration is allowed as business expenditure for the employer.


INDIVIDUAL TAX PLANNING

Indian tax law requires a tactical approach and a range of strategies so that you are well positioned for tax savings. Our services include the following:

ü  Tax Implication on each Transaction which involve Income element

ü  Personal Tax Compliances – Compiling and filing of Tax return

ü  Advance tax calculations and deposit on quarterly basis and deposit of self-assessment tax and tax on regular assessments etc.

ü  Replying to various Income Tax Notices, getting wrongly raised demand deleted and getting refunds, if any.


TRANSFER PRICING

Determination of transfer pricing policy is an approach which brings certainty to the inter-company transfer pricing and also mitigates transfer pricing exposure in advance. Therefore, prior taking on any international transactions or specified domestic transactions with its associated enterprise it is essential that the transaction is evaluated, structured and planned specifically considering the tax impact.

We have a team of specialists in accounting, taxation & law. This combination of specialist enables us to deal all the transfer pricing matters is technical & innovative manner. Our Services include the following: -

ü  Transfer pricing Planning

ü  Documentation

ü  Transfer Pricing Study Report

ü  Litigation Support

ü  Advice on all relevant matters.


TAX COMPLIANCE SERVICES

Efficient maintenance of accounting records, unfettered payroll delivery and timely statutory compliances reduce risks, enable effective financial monitoring and control, and increase efficiency.

The Tax Compliances & Reporting Services we offer are: -

ü  Tax Audits as per the provisions of the Indian Income Tax Laws

ü  Preparation and Review of corporate tax returns to ensure compliances with the Income Tax Act, 1961.

ü  Payment of Tax on Employment

ü  Monthly compiling of TDS from client records, timely deposit of taxes, filing of Quarterly E-TDS returns & issuance of Annual Certificated to Vendors. etc.

ü  Help during tax audit by revenue authorities

ü  Obtaining PAN/TAN


PROVIDING PERSONAL ASSISTANTS FOR COMPLIANCE WORK

We understand that in some of the short assignment how difficult it is to appoint fresh employee, train them for assignment. We provide trained consultant who will work at client’s workplace for particular assignment.

Other Services


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