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Accounting Services
Are you struggling with day-to-day accounting tasks. Let us handle your financial needs with precision and expertise, saving you time, money, and stress.
Why you need to have Strong Accounting System
Having a strong accounting system is crucial for any business, regardless of its size or industry. It helps you keep track of your financial transactions, manage your cash flow, and informed decisions based on accurate financial data. With a reliable accounting system in place, you can streamline your financial processes, reduce errors, and ensure compliance with tax laws and regulations.
Maintenance of Books of Accounts
Aspect | Importance of Maintaining Books of Accounts | Legal Requirements in India |
|---|---|---|
Regulatory Compliance | Ensures compliance with tax laws, GST, and other financial regulations | Income Tax Act, 1961 requires books to be maintained for at least 6 years |
Taxation & Audit | Essential for filing accurate tax returns and avoiding penalties | GST Act, 2017 mandates record-keeping for 6 years |
Investor & Lender Confidence | Transparent financial records help attract investors and secure loans | SEBI regulations require listed companies to maintain proper financial records |
Legal Protection | Protects businesses in case of disputes, lawsuits, or fraud investigations | LLP Act, 2008 & Partnership Act, 1932 require books to be maintained |
Decision Making | Provides data-driven insights for strategic business decisions | Cost Accounting Records Rules apply to specific industries |
Business Valuation | Necessary for mergers, acquisitions, and business valuation | Companies Act requires financial statements to be audited annually |
Avoidance of Legal Penalties | Non-maintenance can lead to fines, penalties, and even business closure | Non-compliance under Companies Act, 2013 attracts penalties up to ₹5 lakh |
GST & Indirect Tax Compliance | Helps in accurate GST returns and availing input tax credits | GST Act mandates proper invoicing and record maintenance |
Operational Efficiency | Helps monitor cash flow, inventory, and working capital | Various industry-specific laws require proper bookkeeping |
Financial Tracking | Helps track income, expenses, and overall financial health of the business | Companies Act, 2013 mandates financial statements preparation |
Why VIUS?
Contact us
Corporate Office:
285 C, First Floor, BRS Nagar, Ludhiana, Punjab,141012, India
Offices:
Smriti Tower, Block-D, Ample Heights, Bawariya Kalan, Bhopal, Madhya Pradesh, 462039, India
330 E Charleston Road, Palo Alto, California
94306, USA
Eldeco Center, New Colony, Hauz Rani, Malviya Nagar, New Delhi, 110017, India
INDIA
USA
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