Questions clients ask most

The office is at 1103, 11th Floor, Nyati Eternity CHS, Mohammed Wadi, Pune, Maharashtra 411028, close to NIBM Road, Undri, Kondhwa and Hadapsar. Meetings are by appointment; most work is also handled online for clients across India.

Yes. GST, income tax, ROC and accounting work is done on government portals and shared drives, so clients anywhere in India and NRIs are served online, with calls or video meetings as needed.

GST registration, returns, audits and notices; income tax returns, tax planning and notice replies; tax audit and statutory audit; company, LLP and ROC compliance; accounting, MIS and virtual CFO support; and project reports for business finance. See the full list of services.

Fees depend on the scope of work, volume of transactions, number of registrations and the time involved. A written scope and fee quote is shared after understanding your requirement, before any work begins.

Documents can be shared by email or a private shared folder set up for you. Portal credentials are never requested over public channels, and client information is kept confidential as required by the ICAI Code of Ethics.

English, Hindi and Marathi.

Note the response due date on the notice, do not ignore it, and do not file a reply without reconciling the facts. Send a copy of the notice through the enquiry form or WhatsApp. You can also read how notices are handled on the income tax notice page.

No. You can engage the firm for a single filing, a notice reply or a one-time project, or for ongoing compliance. The scope is agreed in writing each time.

Fees are quoted in writing after the scope is understood. They depend on the volume of transactions, number of registrations or entities, complexity and time involved.

Yes. Before taking over, a new auditor communicates with the previous auditor where the ICAI Code of Ethics requires it. For accounting and returns, a handover checklist of filings, credentials and pending items is prepared.

The firm prepares project reports, CMA data and financial projections and supports the documentation that banks and NBFCs ask for. The lending decision always rests with the lender.

₹40 lakh aggregate turnover for suppliers of goods and ₹20 lakh for suppliers of services. Registration is compulsory regardless of turnover for inter-state suppliers of goods, e-commerce sellers and certain other categories.

Once the application and Aadhaar authentication are complete, registration is normally granted within 7 working days, or up to 30 days if physical verification is required. From 1 November 2025, eligible small taxpayers can opt for a simplified scheme with approval within 3 working days.

A late fee applies per day of delay, subject to caps linked to turnover, and interest at 18% per annum applies on tax paid late. Returns more than three years past their due date cannot be filed at all.

GSTR-9 is optional for businesses with aggregate turnover up to ₹2 crore. GSTR-9C applies above ₹5 crore.

DRC-01C is an intimation that ITC claimed in GSTR-3B exceeds ITC available in GSTR-2B. You must either pay the excess or explain the difference within the time given, or further ITC use can be blocked.

Yes. GST work is done on the common portal, so businesses anywhere in India are served online.

31 July 2026 for ITR-1 and ITR-2 filers without business income, 31 August 2026 for ITR-3 and ITR-4 filers not liable to audit, and 31 October 2026 for audit cases. A belated return can be filed until 31 December 2026.

Yes. A belated return can be filed until 31 December 2026 with a late fee of up to ₹5,000 (₹1,000 if total income is up to ₹5 lakh). After that, an updated return (ITR-U) can be filed within the permitted period by paying additional tax.

The option to choose the old regime is available only in a return filed by the due date. A belated return is filed under the default new regime.

The Annual Information Statement (AIS) collects data from banks, brokers, employers and registrars. If income in AIS is missing from your return, the system can make an adjustment under section 143(1). Reconcile AIS before filing, and submit feedback on AIS if an entry is wrong.

F&O income is business income. Tax audit depends on turnover (computed as the absolute sum of profits and losses) and whether presumptive income conditions are met. Many traders with turnover up to ₹10 crore and mostly digital transactions are not liable, but losses with low declared income can trigger audit in some cases.

An NRI must file if taxable Indian income exceeds the basic exemption limit, and should file to claim a refund of excess TDS, for example on property sale or fixed deposit interest.

Check the Document Identification Number (DIN) on the income tax e-filing portal under ‘Authenticate notice/order issued by ITD’. Notices are also visible in the e-Proceedings section after login.

The Assessing Officer can complete the assessment on the basis of available information (a best-judgment assessment), levy penalties for non-compliance and raise a demand. Always respond or seek an adjournment before the due date.

Yes. An adjournment can be requested on the portal with a reason. It is at the discretion of the officer, so the request should be made before the due date.

It is a proposed change made while processing your return, for example for income in AIS or Form 26AS that is not reported, or a deduction that appears inconsistent. You receive a communication and can respond before the adjustment is made.

For notices from 1 September 2024, generally 3 years from the end of the assessment year, extended to 5 years where escaped income is ₹50 lakh or more, subject to the procedure in section 148A.

Yes. Faceless assessments and appeals are handled on the portal, including written submissions and video hearings where allowed.

The tax audit report is due by 30 September 2026, one month before the 31 October 2026 return due date for audit cases.

Generally no, unless you have opted out of presumptive taxation in the manner that triggers audit, or declared profit below the presumptive rate with income above the basic exemption limit. Businesses with mostly digital transactions have a ₹10 crore limit.

Yes. All companies registered under the Companies Act, 2013 require a statutory audit, irrespective of turnover or profit.

For companies, an auditor cannot provide accounting and bookkeeping services to the same company under section 144 of the Companies Act, 2013. For tax audit of non-corporate entities, independence requirements of ICAI apply; the scope is discussed at the start.

Penalty can be levied at 0.5% of turnover or gross receipts, up to ₹1.5 lakh, unless there was reasonable cause.

Usually 7 to 15 working days after documents and digital signatures are ready, depending on name approval and MCA processing.

There is no prescribed minimum paid-up capital. Capital should be decided based on business needs, and INC-20A must be filed after subscribers pay for their shares.

A private limited company is usually preferred if you plan to raise equity funding or issue ESOPs. An LLP has lighter compliance and suits professional or family businesses that do not plan to bring in investors.

Additional fees accrue for every day of delay, and continued default can lead to disqualification of directors and the company being struck off.

Yes. A company with no operations or liabilities can apply for strike-off using form STK-2 after filing pending returns and clearing dues.

An accountant records transactions and prepares compliance filings. A virtual CFO uses that data to produce MIS, forecasts and budgets and reviews them with the owner to support decisions.

Usually not. Tally, Zoho Books and QuickBooks all work; the chart of accounts may be restructured so reports match how the business is managed.

A first MIS is typically available after the first full month-end close. It becomes reliable after two or three cycles once opening balances and mappings are cleaned up.

Yes. Many engagements keep the in-house accountant for day-to-day entries while the virtual CFO reviews, closes and reports.

5% without input tax credit for rooms with tariff up to ₹7,500 per unit per day, and 18% with input tax credit above ₹7,500.

It depends on whether the hotel is ‘specified premises’. Restaurant service in specified premises is 18% with ITC; otherwise it is 5% without ITC.

Residential accommodation up to ₹20,000 per person per month for a continuous stay of at least 90 days is exempt. Other arrangements need to be evaluated, especially where meals or other services are bundled.

Yes. OTA statements, commissions, TDS and TCS deducted, and payouts are reconciled to bookings in the PMS and to bank receipts.

TaxSphere is a free library of Indian income-tax judgments and CBDT circulars written and maintained by CA Prabhakar Kumar, FCA. Each entry has a plain-English summary, what it means in practice and a link to the source.

Yes. It is free to use and does not require registration.

The library is organised by section and subject and is being extended to map authorities to the corresponding provisions of the Income-tax Act, 2025.

Rulings help support a position, but whether one applies depends on the facts, the jurisdiction and whether it is still good law. The validity tracker shows later developments; get the reply reviewed before relying on it.