CA Near Me in Gurgaon
Are you looking for CA in Gurgaon? We have a team of qualified accountants in Gurgaon which not only respond to your needs on time but also assist you as & when required. We have 5567 Chartered Accountants, covering 1948 Locations, 2648 areas, and 318 cities in India and offering Accounting, Company Registration, GST Services (GST Registration, GST Audit, GST Return Filing), Personal Accounting, IPR Services, and Startup Services in Gurgaon.
How the profession of Chartered Accountancy came into light?
In the early times, businesses were usually small and managed by the owner himself. The owner used to play the role of a financer, operator, seller, and purchaser, all by himself but as the business grows, the need has been arisen to keep a tab on the financial aspects of the business. Businesses began to branch out and soon banks got involved in the process of lending loans. Subsequently, the tax authorities and the government too got involved. As things got more and more difficult, the involvement of a professional who can handle the financial aspects of the business becomes the need of the hour. CA profession is considered prestigious in Gurgaon.
CA in Gurgaon?
Any aspirant who wants to become a qualified CA needs to complete the Chartered Accountancy course. The chartered accountant course, membership, examination and training are regulated by the body known as the Institute of Chartered Accountants of India (ICAI). The course has three levels and as a part of the qualifying aspect, aspirants need to complete at least three years of practical training. This tough-to-crack examination is held every year across the country, divided into Foundation Course & Intermediate Course - the course covers an array of subjects such as Business Law, Corporate Law, Cost and Management Accounting, Auditing &Assurance, Financial Reporting and Global Financial Reporting Standards. Once you qualify as CA in Gurgaon and you are having the required qualification, knowledge and designation, you can easily file a business tax return, do audit of financial statements and business practices, and offer advisory services to clients too.
The recent phenomenon of the rapid growth & ascension of the accountancy profession and the vast changes occurring in the Indian economic landscape has placed a great amount of responsibility on the shoulders of every chartered accountant. As the country is progressing towards becoming a business and economic powerhouse, various financial and economic reforms are opening new avenues and opportunities for chartered accountants. It is the time for these professionals to infuse their knowledge and skill in their specialized fields.
Roles & Responsibilities of Chartered Accountants
Chartered accountant is the only person who you can rely upon at the time of filing taxes. However, you can safely brush off this preconceived notion, as CA in Gurgaon do much more than just filing income tax returns. Don't think of them as mere number crunchers; See them as consultants providing valuable insight with an aim to influence day-to-day operations as well as long-term strategic decisions of an entity. The various roles and responsibilities of Chartered Accountantsare as follows –
This is perhaps one of the key roles of any CA in Gurgaon. In simple terms, an audit is an official inspection of an organization’s accounts, typically by an independent body. Through an audit, it becomes clear whether the records are a fair and accurate representation of the transactions or not. The accuracy of the financial statements as provided by the organization can be easily ascertained. This is a legal requirement for many entities. There are different types of audits that CA Gurgaon takes care of, namely internal audit, income tax audit, CAG audit, and forensic audit.
- Internal/ Statutory Audit: CA as an internal auditor independently evaluates the evidences within the organization. The key objective of this exercise is to assist the management of the organization to effectively discharge of its responsibilities.
- Forensic Audit: Rise in litigations, scams and scandals gives rise to the importance of forensic audit. Any CA having experience in forensic audit is considered as valuable. This type of audit requires the use of investigation skills to situations that may involve legal implications.
Following are the situations where forensic audits may apply:
- In case of dispute between business partners, a forensic audit carried out by a CA in Gurgaon and determined the profit share of each partner.
- In case of fraud, where the investigation suspect performs illegal and unethical activities such as misappropriation of funds, money laundering, tax evasion and insider trading.
- In case of insurance claims, Forensic audit done by a top chartered accountant can help quantify the amount of loss.
The assessment of taxes is closely linked to financial accounts. Tax information is vital for effectively managing the business. CA in Gurgaon holds a favorable position in handling the taxation matters by carrying out the following responsibilities:
- Preparation of income tax returns
- Representing the clients/assesses before the matter goes to income tax authorities
- Offering advice on taxes to clients
In terms of PSUs and listed companies, the financial statements must depict a true and fair picture of the company’s operations and the entities should not window dress their financial statements. This will help stakeholders such as shareholders, creditors, financiers and investors to make view and take investment decision about the company.
CA in Gurgaon are experienced and specialized in the auditing of complicated cases that have a large revenue potential. They are highly professional and dedicated towards maintenance of accounts for different categories of taxpayers. An assessee with a minimum turnover of INR 10 lakhs in the case of professionals and INR 40 lakhs in case of business concerns, must get his/her accounts audited as mandatorily stated under the income tax laws.
CA in Gurgaon has a crucial role to play in the enforcement of cross-border transactions, transfer pricing and Double Taxation Avoidance Agreements (DTAA). Companies with an international presence or operating internationally need to consult and take the advice of a leading chartered accountant to be well prepared to answer any questions asked by the revenue authorities in relation to their international operations. In case of amendments in tax on foreign remittances, you can easily consult any of the top CA in Gurgaon. Even various CA firms are offering 15CA and 15CB remittance certification services in the city.
Goods and Services Tax (GST)
The introduction of GST in the country – deemed to be the biggest tax reform since independence - brought about a lot of initial outburst and complications. The consolidation of various indirect taxes into a single tax creates a big impact on country’s tax system. CA in Gurgaon can help businesses and professionals to comply with the reformed tax laws, understand the legal structure of GST, maintain registers and documents, file returns regularly and assist clients' in assessments and representations.
3. Mergers and Acquisitions
In the dynamic world of business, corporate houses often undergo mergers and acquisitions. When two or more businesses combine into one, it is known as a merger. Another form of a merger is consolidation, where a new company is formed in order to take over two or more companies. The term acquisition means acquiring the ownership of an existing company. Acquisitions, unlike mergers, do not involve liquidation of the company that has been taken over.
CA in Gurgaon are specialized in mergers and acquisitions and can help a business determine the following:
- Tax concessions to the amalgamating company
- Tax concessions to the amalgamated company
- Tax concessions to the shareholder of an amalgamating company
- Valuation of shares of public and private companies
- Cost of diversification
This is perhaps the most basic function that any of the CA in Gurgaon carries out. These professional’s have two-fold responsibilities when it comes to accounting.
Finance and Bookkeeping
In Gurgaon - Chartered accountants also help in maintaining the records of the financial transactions carried out by a business. He/she regularly maintains and updates the common books of accounts i.e. purchase books, sales books, payments books and receipt books. The records in these books are used to generate the income statement at the end of the quarter, which is ultimately collated with the final balance sheet.
The mere preparation and maintenance of financial record books are not enough as CA in Gurgaon has a more strategic responsibility on his/her shoulders. Under the guidance of the consulting chartered accountant, the data in the statements and balance sheet is analyzed to understand various business aspects. The income statement can be analyzed to understand the top-line and bottom-line growth of the company whereas analyzing the balance sheet will help in understanding the financial position of the organization.
5. Management Consultancy
The role of a chartered accountant grows, when he/she acts as a management consultant. The role of CA in Gurgaon is invaluable in helping businesses so that businesses can utilize their resources efficiently. Chartered accountants also help in increasing thebusiness efficiency and check whether the business is growing in line with their big goals and objectives. The services offered by CA in Gurgaon are as follows:
- Design of the system to manage budget and its control
- Installing a system to manage the cost accounting functions
- Development of a management information system
- Implementing measures that effectively utilize capital
- Assisting with effective utilization of working capital in order to boost productivity
- Advising the management for effective delegation, planning and streamlining work activities
- Giving advice on matters of international taxation, foreign collaborations, joint ventures, double taxation agreements
- Reviewing operational control procedures
- Reviewing financial planning methods and policies
- Offering secretarial services and rendering advice on corporate law matters
- Assisting in preparation of feasibility studies in terms of expansion and new project undertakings
- Acting as a registrar in terms of transfer of shares/ other securities
- Advice to the management team on the outlook of amalgamations, reconstructions, takeovers and expansion
- Act as an advisor or consultant to any issue. CA in Gurgaon can also advise on matters that involve drafting the prospectus and memorandum as well as preparing of publicity budget
- Act as an investment counsellor with respect to securities
- Advise on the system analysis and design, including selection and development of software and feasibility of incorporating computer applications for accounting and commercial activities
6. Business Investigation and Special Company Work
CA in Gurgaon are experienced and specialized in undertaking business investigations and special company work. These professional’s are consulted for his/her foresightness in terms of achieving greater efficiency in management and administration, Identifying problems in financial governance and the reasons behind increase or decrease in profits. In Gurgaon - Chartered accountants also investigates the financial position of the company in matters like issue of share capital, purchase or sale or financing of a business, reconstruction and amalgamations.
In Gurgaon CA are also consulted for matters related to the formation, financial structure and liquidation of limited companies. Besides other company work, secretarial and registration work, duties of a receiver are also undertaken by CA in Gurgaon. He/she can also act as an arbitrator towards the settlement of disputes.
List of services offered by Chartered Accountants in Gurgaon
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