Once the startup is structured and incorporated, the next challenge arises regarding compliances. Founder members of startup are experts in their respective fields in which the startup would be dealing but often are not aware of all the regulations applicable to them. Even if they know of the regulations, the nature of the work would require a full-time specialist to be employed even with low volumes, ending up with high compliance costs.
Well established startups too prefer outsourced services of professionals to avoid problems in tax scrutiny and assessments. They also find it easier to deal with an external expert firm that is answerable to them rather than deal with layers of employees in their own company. This also enables them to focus on their core fields.
A K U V And Associates LLP provide following outsourced services in order to provide hassle-free compliances of startups:
- Assistance in review of monthly accounting
- GST compliances on an periodical basis
- Assessment of TDS (Tax Deductible at source) of vendors, professionals etc.
- Tax calculations for employees to determine TDS
- Quarterly filing of TDS returns
- Drafting salary structure of employees and optimizing tax implications
- Payroll calculations on a monthly basis
- ESI / PF monthly compliances
- Assistance in filings of company law matters
- Quarterly assessment of income tax liability for the company and payment of advance tax
- Assistance in setting the accounting and reporting policies and framework for companies