Hi I am not sure if this is the right forum for an Accounting question, but I looked
around on the internet for Accounting forums, could hardly find any.
My question : I have a small interior design business, under Proprietorship.
I have managed to get a Service Tax number for my company.
I am looking for an accountant to file my taxes. My previous accountant took me for a ride.
But when looking for one do I need to get a Chartered Accountant or anyone that files taxes (considering that I now have a Service Tax no.) ?
Most salaried employees get their taxes filed people who are not necessarily Chartered Accountants.
Thank you.
From India, Mumbai
around on the internet for Accounting forums, could hardly find any.
My question : I have a small interior design business, under Proprietorship.
I have managed to get a Service Tax number for my company.
I am looking for an accountant to file my taxes. My previous accountant took me for a ride.
But when looking for one do I need to get a Chartered Accountant or anyone that files taxes (considering that I now have a Service Tax no.) ?
Most salaried employees get their taxes filed people who are not necessarily Chartered Accountants.
Thank you.
From India, Mumbai
Salaried people file return only for Salary income ie INCOME TAX RETURNS.
I am an accountant and know about service tax, there are frequent changes happening in service tax rules and unless you keep updated yourself about the rules it will be hard to file returns for service tax. Also we have to look at Advance Tax, Adjustments, Cenvat Credit and see that it is properly accounted or not, hence many people outsource such things to some agency which takes care of the entries etc, or if you have a fully automated software which automatically calculates stax then it wont be problem for you, eg in restaurants bill is paid instantly hence service tax is just simple collect and give whereas in companies there is cenvat credit , advance tax, abatements, notifications etc. Best is you can put your nature of work and if it is a simple process take the neessary training from some CA / agency in your city and then you yourself can file the taxes. Since first time interest may also apply.
From India, Madras
113I am an accountant and know about service tax, there are frequent changes happening in service tax rules and unless you keep updated yourself about the rules it will be hard to file returns for service tax. Also we have to look at Advance Tax, Adjustments, Cenvat Credit and see that it is properly accounted or not, hence many people outsource such things to some agency which takes care of the entries etc, or if you have a fully automated software which automatically calculates stax then it wont be problem for you, eg in restaurants bill is paid instantly hence service tax is just simple collect and give whereas in companies there is cenvat credit , advance tax, abatements, notifications etc. Best is you can put your nature of work and if it is a simple process take the neessary training from some CA / agency in your city and then you yourself can file the taxes. Since first time interest may also apply.
From India, Madras
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Service Tax.pdf