Include CAs in the Vaccination and Professional Work Priority Group: KSCAA

Include CAs in the Vaccination and Professional Work Priority Group: KSCAA

The Karnataka State Chartered Accountants Association (R) (abbreviated as ‘KSCAA’) is a Chartered Accountants Association founded in 1957 under the Karnataka Societies Registration Act. KSCAA was established largely for the benefit of chartered accountants, and it represents them before various regulatory bodies in order to alleviate problems and hardships that they and the business community confront.

The Institute of Chartered Accountants of India (ICAI), a main statutory body formed by an Act of Parliament, The Chartered Accountants Act 1949 (Act No XXXVIII of 1949), for regulating the profession of Chartered Accountancy in India, is predominantly made up of Chartered Accountants. The ICAI is the world’s second-biggest professional organisation of chartered accountants, with a long history of public service to the Indian economy.

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We congratulate and praise the efforts of the Government of Karnataka and the whole State Administration in restricting the spread of the Coronavirus in the state, which has resulted in a steady and gradual drop in the number of Corona positive cases over the past few days.

It is important to note that we CAs have the professional expertise, extensive experience, and in-depth knowledge in the areas of financial controls, financial accounting, financial audit, and risk management and that these skill-sets could be very useful to the government in improving financial management in relation to Covid relief and containment activities.

GST Council to meet Saturday, discuss tax exemption on Covid-19 essentials

CAs should make an effort to fulfil their social obligations by delivering professional services outside of the business sector and to the general public while remaining faithful to their position as partners in national development. It would be an honour and privilege for us at KSCAA to work in the public interest in collaboration with the Government of Karnataka in the fight against Corona by assisting in the implementation and operation of financial discipline and financial controls in the mobilisation and use of public resources.

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The Chartered Accountants (CA) profession has always worked to uphold the ethos of Partners in Nation Building, and it has been their constant effort to keep India’s economy and financial system afloat. The CAs work closely with the government and its regulatory bodies on the one hand, and the diligent and hardworking taxpayers of our country on the other, ensuring that taxpayers comply with all fiscal statutes, such as the GST and income tax, and pay their share of lawful taxes to the government in a lawful and timely manner. Aside from fiscal statutes, the CAs are also in charge of ensuring that persons and corporations follow other rules and regulations.

We are optimistic that your good selves will go to great lengths to ensure that necessary steps are taken in this regard to provide much-needed relief by classifying CAs as PRIORITY GROUP and thus help expedite vaccination of our CA members, their staff, and their families, as well as ensuring that our CA members and staff perform their functions in a very smooth, efficient manner.

GST AUDIT FLOW

GST AUDIT FLOW AS PER REQUISITES / IMP POINTS

  • TURNOVER
  • WHO CAN PERFORM OR INITIATE
  • TIME PERIOD FOR COMPLETION
  • ACTIONABLE /FORMS

Professionals as part of GST Audit need to electronically file:

  1. An annual return as per Form GSTR 9B  appended with the reconciliation statement by 31st December – following Financial Year
  2. Audited Financial Statements
  3. Reconciliation statement stating the value of supplies as per the GST Return with the Financial statements like Balance Sheet & Profit & Loss Accounts
  4. Any other particulars as sought

CA, AUDIT, GST, INCOME TAX

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Real Estate Tax planning for NRI’s

Sale of Property

Selling of property in India by NRI is taxable under u/s 195 of the Income Tax Act, 1961 & often entail a TDS of >20% of the total  sales proceeds of the property.

  • Certicom can help obtain you Nil Tax Deduction or Lower Tax Deduction with Income Tax Assessing Office.
  • In case, NRI seller is planning to re-invest capital gain we can also obtain for tax exemption certificate.
  • Once sorted, we can help NRI  file form 15CA and 15CB for repatriation of Funds.
  • After filing form 15CA and 15CB, money can be transferred to country of residence else money can be retained in NRO account in India.

CA, GST, AUDITORS., INCOME TAX

Certicom.in 

Complete end to end processing takes about 2-3 weeks being coordinated by a team of experts with activities like

–        Coordination with Buyers and Sellers

–        Valuation of Property & Documentation

–        Tax determination and levy

–        Coordination with Income Tax Deptt

–        Lower Tax Deduction Certificate

–        Repatriation of Funds Via 15CA, 15CB certificates

–        Income tax filing for the Involved parties

–        Assessment of Returns ( incl. Any demand, notice.. if any)

 Pl reach us on below contact details

+91-98453 77948 / 98800 52923

Email :  [email protected]; [email protected]