Income Tax is levied by the Government of India on the income of every person. The provisions governing the Income-tax are covered in the Income-tax Act, 1961. Income-tax is levied on the annual income of a person.
The year considered under the Income-tax Law is the period starting from 1st April and ending on 31st March of next calendar year. Income tax is to be paid by every person. For the purpose of charging Income tax, the term 'person' includes Individuals, Hindu Undivided Families [HUFs], Associations of Persons [AOPs], Body of Individuals [BOIs], Firms, LLPs, Companies, Local authority and any artificial juridical person not covered under any of the above.
As per the Income Tax Act, certain registrations and pre-approvals are to be obtained from the tax department. Some of them are Permanent Account Number (PAN): Permanent Account Number (PAN) is a ten-character alphanumeric identification number allotted to every taxpayer. It is mandatory to quote PAN on return of income and other important financial transactions.
Tax Deduction Account Number (TAN): A TAN, or Tax Deduction and Collection Account Number, is a 10-digit alphanumeric number required to be obtained by all persons who are responsible for deducting or collecting tax. Under Section 203A of the Income Tax Act, 1961, it is mandatory to quote the Tax Deduction Account Number (TAN) allotted by the Income Tax Department (ITD) on all TDS returns.
Lower Tax (TDS) Certificate: As per the provisions of the Income Tax Act, TDS/ TCS are required to be deducted at the prescribed rate at the time of making the payment. In case the estimated tax liability of a person is lower than the TDS amount, then he has an option of applying to the department for a certificate directing the TDS deductor to deduct tax at a lower/nil rate than the prescribed rate.
Goods and Service Tax (GST) is comprehensive Indirect Taxes levied by the government on sale of goods or provision of services in India. This law was introduced in 2017 subsuming the erstwhile laws such as excise duty, service tax and VAT, etc.
We perform audits for not-for-profit and for-profit organizations as well as audits as per requirements under the Companies Act, Income Tax Act, Banking Regulation Act, etc. in order to provide the highest level of assurance for our client's financial needs. CA Hari Dharak and Associates provides you with a stress-free, thorough audit.
The assurance services provided by CA Hari Darakh & Associates use our professional knowledge to make the best possible financial or non-financial recommendations to clients so that they can make informed decisions.
To reduce the risk of disruption to our client's operations and employees, we have developed optimized audit and assurance processes that leverage the latest technology along with our experience in corporate finance. Our audit and assurance professionals bring strong backgrounds as auditors to the table, as well as a genuine interest in your company's well-being. We offer a range of services to our clients in the following areas:
Tax Deduction Account Number (TAN): A TAN, or Tax Deduction and Collection Account Number, is a 10-digit alphanumeric number required to be obtained by all persons who are responsible for deducting or collecting tax. Under Section 203A of the Income Tax Act, 1961, it is mandatory to quote the Tax Deduction Account Number (TAN) allotted by the Income Tax Department (ITD) on all TDS returns.
Lower Tax (TDS) Certificate: As per the provisions of the Income Tax Act, TDS/ TCS are required to be deducted at the prescribed rate at the time of making the payment. In case the estimated tax liability of a person is lower than the TDS amount, then he has an option of applying to the department for a certificate directing the TDS deductor to deduct tax at a lower/nil rate than the prescribed rate.
When it comes to running a business, few things cause more headaches than realizing that you missed out on valuable tax savings or have unexpected taxes payments. Every day we work with businesses and individuals to enable the effective use of strategies that reduce and manage tax liabilities. After working with us, you will have tax planning that ensures you stay in compliance while minimizing your tax burden.
Proactive and innovative tax planning enables you to not only reduce your tax liabilities but also defer current and future tax for years to come. With the proper tax planning strategies in place, you are able to maximize your current cash position. The way we figure it, tax preparation is just the last piece of the tax advice and strategic planning we share with clients all year long.
We offer a range of services to our clients in the following areas:
No matter what your situation, the earlier you call us, the earlier we can prepare a smooth approach to handling your tax obligations, and the sooner your finances will thrive.
Project Report or CMA Data are some of the important documents sought by bankers and financial institutions for lending term loans, working capital, or any business loans. A project report is a detailed statement of the Sources of funds, utilization of funds, Estimate of revenue, profitability, etc.
The preparation of such reports is a specialist task! It requires expertise and exposure to lending norms of the financial institutions and banks. We at Hari Darakh and Associates have a team of ex-bankers who have in-depth knowledge of the banking industry. They prepare the reports, which are generally accepted by the institutions without many modifications.
Secondly, we also prepare the financial feasibility reports for the management to ascertain the viability of the proposed venture or the expansion of the existing business.
Whether you are looking for support in a particular area such as accounting or want to produce better management of accounts or forecasts, CA Darakh has a business solution for you.
We understand that not every business has the resources available to carry out all of its business and accounting management functions. We can provide you with outsourced services, including bookkeeping, management reporting, payroll processing, budgeting & forecasting, and additional on-site support as required.
We also know just how important it is to have peace of mind that everything is being kept up to date and in control. Good quality record keeping can ensure that you are informed about your business, helping you to manage cash flow effectively and control commitments.
Timely management information is a key part of ensuring that you are able to run your business effectively. By reviewing performance against the relevant indicators and budgets, we can provide you with the tools you need to support decision making.
CA Darakh can provide outsourcing solutions in the following areas:
Throughout a business lifecycle, business owners need a dependable, knowledgeable, and objective partner to help them negotiate the challenges they face.
They do not just need advice, they need a partner to stand by their side and address their business needs and challenges as if they were their own.
The greatest challenge organizations face on the road to growth and profitability is identifying the facts that enable executives to make good decisions and manage risk. The Business Advisory Services of Hari Darakh & Associates brings a fact-based approach to management advisory that has evolved from the rigor and integrity of our CA heritage.
Timely management information is a key part of ensuring that you are able to run your business effectively. By reviewing performance against the relevant indicators and budgets we can provide you with the tools you need to support decision making.
As we provide services to a wide range of industries, we know how to grow a business and we'll show you. Your success is our main concern. From business startup and formation to understanding the risks and opportunities, you can count on the best advice from our team. We know what works and make it our mission to ensure that our clients have access to all the financial information they need to grow a healthy business.
Hari Darakh and Associates are dedicated to assisting you in achieving your business goals and requirement for expanding your business. We offer you services that are the basic foundation of your business. These services are executed in a prompt manner by skilled professionals that hold knowledge in their respective fields like Land Acquisition, Stamp Duty, NOCs, paper-work etc.
MIDC PLOT ALLOTMENT & ALLIED SERVICES
In Maharashtra, to facilitate Industries the Government of Maharashtra established
M.I.D.C. in 1962, under the M. I. D. Act 1961 as the premier industrial
infrastructure development agency of the Government of Maharashtra.
Hari Darakh and Associates help our clients to get land in the Industrial areas
in MIDC.
Make applications for MIDC plot allotment & preparation of supporting
documents except the building block plan & get the plot allotted in the company's name.
Providing necessary assistance to the company in the submission of application/forms/ drawings, etc., to concerned MIDC Offices. Obtaining Plan Approval and Commencement Certificate & Provisional Fire NOC from MIDC for New Constructions. Co-ordination and follow-up with the above-mentioned offices and obtaining Building Plan Approval for all above mentioned structures. a Building Completion Certificate & Final Fire NOC from MIDC. Making an application for MIDC plot allotment
STATE & CENTRAL GOVT. SUBSIDIES, GRANTS & INCENTIVES
Hari Darakh and Associates plays a pivotal role in helping clients to secure all
eligible and available Subsidies, Grants and Incentives. We advise many
companies in getting subsidies and grants for their businesses in India.