Why this packages from Wazzeer?

Annual compliances and filing refers to the process of reviewing and evaluating a company’s financial records at the end of each financial year. This is typically done by an external auditor or accounting firm like Wazzeer to ensure that the financial statements are accurate and comply with accounting standards and regulations. The audit process involves examining financial records, conducting interviews with management and employees, and verifying the accuracy of financial data.

The ITR (Income Tax Return) package refers to the set of documents and forms that a company or individual must submit to the tax authorities to report their income, deductions, and tax liabilities for the previous fiscal year. The ITR package typically includes a variety of forms, schedules, and supporting documentation, such as financial statements, receipts, and invoices. The purpose of the ITR package is to enable the tax authorities to calculate the amount of tax owed by the company and to ensure annual compliance with tax laws and regulations.

Now, the question arises why should you choose Wazzeer to conduct the Annual Accounting and Audit  ITR process , so I’m explaining this in following points:

• Expertise: We at Wazzeer have a team of experienced professionals who are well-versed in annual filing of company in India. When chosen us for your Annual Accounting and Audit and ITR filing, you can be confident that your financial records are in compliance with accounting standards and that your tax liabilities are accurately calculated.
• Time-saving: Conducting Annual Accounting and Audit and filing ITRs can be time-consuming and complex. By outsourcing these tasks to us, you can save time and focus on other important aspects of your business.
• Cost-effective: Wazzeer offers competitive pricing for its annual filings services, which can be more cost-effective than hiring an in-house accountant or tax consultant. Additionally, we can help you identify potential tax savings and deductions, which can reduce your overall tax liability.
• Peace of mind: By choosing us for your annual compliances, you can have peace of mind knowing that your financial records and tax liabilities are being handled by experienced professionals who are committed to ensuring compliance with accounting and tax laws and regulations.
• Technology-driven: We utilize technology to streamline filing of annual reports online, which can improve efficiency and accuracy. Our system includes the use of cloud-based accounting software and automated tax preparation tools.

Who Should Buy?

• Business Entities : Any business entity, such as a sole proprietorship, partnership, limited liability partnership (LLP), or a company, should consider purchasing our Annual compliance filing package.
• Business owner/individual : If you are a business owner or an individual who wants to ensure annual compliance with accounting and tax laws and regulations, and wants to avoid any penalties or legal consequences that may arise from non-compliance, then you should consider buying this package.

What this package includes?

• Review of Books of Accounts: Our professionals will review the books of accounts, maintained by the accounting department, making sure that financials of the company are maintained properly.
• Statutory Audit: Every company or LLP in India is required to do a statutory audit by an external auditor, irrespective of the runover of the company (for LLPs mandatory if turnover is more than 40L). Based on the financial statements we shall prepare an detailed audit report.
• ITR Filing: Every company/LLP needs to file Income Tax Return after completion of its first financial year. After calculating the tax liabilities of the business we shall file for ITR.
• ROC Filings: Companies and LLPs needs to do certain filings with the Registrar of Companies as annual filings, For companies the filings are MGT 7 form and AOC-4 form. For LLPs it is Form 11 and form 8.
• GSTR 9 Filing: Companies or LLPs having a turnover of more than 2 cr needs to file GST 9 Filing. It is mandatory to file if the turnover crosses 2 cr in the financial year.
• GSTR 9C Filing:  Companies or LLPS whose turnover crossed more than 5 Cr needs to file GSTR 9C filing, along with the GSTR 9.
• Tax Audit: Companies whose turnover crosses more than 10 Cr, needs to file for Tax Audit. It is mandatory to to prepare the Tax audit report and file with the government.
• Transfer Pricing Audit: If a company is a subsidiary of another company and does transactions with the parent company, then they have to conduct a transfer pricing audit.

Documents required

• Monthly Bank statement dated end of the month
• Vendor Invoices
• Income details (if any)
• Details of new employees( Salary, date of joining, deduction, etc.)
• Pay-out working sheet
• Details of purchase
• Expense bills
• Asset register
• Credentials

Process flow/ step by step procedure

• Share the required documents & information
• Review of Books of Accounts
• Prepare the Financials (If any)
• Conduct and Audit and prepare Audit report
• ITR Filing
• ROC filings
• Conduct other Filings and Audits based on the revenue
• Share Deliverables

Deliverables

• Statutory Audit Report
• ITR Filing Challan
• Balance sheet
• GSTR Challans
• Tax Audit Report