chartered accountant

IMPORTANCE OF CONSULTING CHARTERED ACCOUNTANTS/COMPANY SECRETARIES FOR TAX MANAGEMENT

Institute of chartered accountants of India (ICAI) is authorized to certify the professional chartered accountants (CA) having requisite knowledge about all the aspects of finance, accounting and IT. Whereas Institute of company secretary (ICSI) is authorized to certify company secretary in India having appropriate knowledge of business/corporate law etc. which will help in smooth functioning of the business.  Both these professional qualifications have a different genre of specialization which cannot be supplemented by the other.

Being a Chartered Accountant (CA) is nothing less than a doctor. Like doctor is the specialist of a living being in the same way a Chartered Accountant (CA) is a financial specialist. Like a sick person has to visit a doctor for check-up or advice, it is a financial one should visit if he is facing any issue in his business, need some advice regarding their investments, filing of ITR, GST etc.

Get a CA at affordable price

Since we all know that India is an emerging economy and we are aspiring to become $5 billion economy by 2024, giving a boost to “Make in India” all these dreams would be fulfilled only with the help of the Chartered accountant/company secretary. There are various services that a tax consultant (chartered accountant/company secretary) provides to their clients which helps them in managing their tax related issues.

  • Investment Advise
  • Financial advisory
  • Management consulting service
  • Due diligence service
  • Forensic audit
  • Project financing
  • Compliance laws
  • Timely filing of ITR, GST etc.
  • BookKeeping
  • Auditing etc.
  • Authorized signatory

A chartered accountant plays an important role in bringing sustainable growth in the organisation and most effective & efficient use of resource, with minimal waste and maximum productivity. We can say that CA/CS & business firms are like inseparable twins which cannot exist without each other. For example: A business firm cannot work efficiently without the consultation of CA/CS and vice-versa.

Consulting a chartered accountant is very essential for your business because of many reasons-

  1. Financial viability: ability to generate sufficient funds so as to meet the requirements of the project; be it long term or short term, capital intensive or working capital requirement.
  • Business valuation: Most appropriate valuation of a business can only be done by an expert who is qualified and well trained. Talking about the business environment in India a CA is the right candidate for this work.
  • Project analysis: Before starting a new project, a complete market and competitor’s analysis must be carefully done before making that project a reality; therefore a CA is the right choice for project analysis part.
  • Capital structuring: There must be a balance between the equity and debt components of an organization which is decided by a CA depending on the type of business.
  • Legal representation: A CA could possibly be a legal representative of you in any court in income tax/GST or tax related matter where he has authorized your returns.

To know more read: POPULAR CHARTERED ACCOUNTANTS (CA) SERVICE PLATFORMS IN INDIA

Consulting a company secretary is very essential for your business because of many reasons-

  1. Link between management & other stakeholders: since management and other stakeholders are not directly in touch with each other that’s when a company secretary comes into picture and works to bridge the gap between the two important parties.
  • Compliance norms: It is the duty of company secretary to look into compliance related norms before taking in any decision for the organization.

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