Auditing, Taxation & Consultancy since 1980

In today’s world corporate as well as individuals are required to comply with a number of income tax compliances, which require expert knowledge and are mostly time-bound and technical in nature. Moreover, most of the income tax compliances nowadays are required to be completed online and require specialised knowledge and expertise. V D Abhyankar specialise in providing Time-bound and quality Income Tax services to our clients. Our range of Income Tax services cover all aspects of Indian Income Tax Laws. Our services help our clients to operate efficiently and minimise their tax liability.

We provide the following Income Tax Services:

• Tax Management Services, advisory services to minimise and manage tax liability under Indian Tax Laws
• Fringe Benefit Tax Services, advisory services on calculation and minimisation of Fringe Benefit Tax
• Calculation of Advance Taxes
• Filing of returns of Income Tax, Wealth Tax, Fringe Benefit Tax, Tax Deducted at Source(TDS)
• Representation before Tax Authorities for Assessments, Appeals, Search & Seizure Cases
• Employee Tax Management and Salary Structure Designing Services
• International Taxation & Transfer Pricing

We provides expert services in the fields of VAT / Sales Tax and Service Tax. Our Indirect Tax department is headed by professionals having domain experience in these areas. Details of Indirect Tax Services provided by us are given below.

VAT / Sales Tax

VAT / Sales Tax are state level taxes levied on sale of goods (including computer software), work contract and hiring of goods. Since the introduction of VAT (Value Added Tax), compliance requirement have increased manifold and require expert services for maintenance of records and calculation of tax liability. V D Abhyankar provide the following services for compliance with VAT / Sales Tax:

Registration with VAT / Sales Tax Authorities
Filing of Periodical Returns and calculation of tax liability
Assisting with other VAT / Sales Tax compliances
Procurement of Statutory Forms
VAT Planning and Advisory Services
Representation for Assessment, Appeals, References etc.

Service Tax

Since the introduction of Service Tax, the scope of the same has increased considerably from year to year. The share of Service Tax in the total tax collection of the government has also increased substantially. Compliance with Service Tax have also increased in quantum and complexity since its introduction. We provide expert services for compliance with Service Tax Law the details of which are given below:

Registration with Service Tax
Calculation of Service Tax
Filing of regular Service Tax returns and other compliances
Preparation of records for Cenvat & Service Tax credit and other records under Service Tax Law
Advisory Services for Assessments, Appeals etc.
Advisory Services for Tax Planning and Minimisation

Account Outsourcing has become the magic word in a world of competition where accounting services providers and accounting services buyers are mutually benefited through the exchange of quality accounting services for money. Outsourcing accounting function means one less internal function that takes time and resources away from what really determines a company’s success. Further, Accounts Outsourcing provides you with a team of experts who fully understand the statutory requirements of your business and how changes in legislation may affect your business. Any business can reap considerable benefits of accounts outsourcing, which include reducing costs and freeing up valuable time to concentrate on running your business. Outsourcing bookkeeping work is beneficial for many companies, especially small scale business ventures.
Cost Reduction
Cost reduction is a major reason why companies consider outsourcing. Utilizing external providers for non-core business functions enables companies to reduce their manpower and infrastructure costs. Any business can avoid the cost of paying accounts staff salaries and save on office space, furniture, hardware, software and all the problems associated with recruiting and managing staff and reap significant cost advantage from outsourcing accounting function. Cost is only one issue but accounts outsourcing also benefits other company aspects.
Benefits
Benefits from accounts outsourcing increases your profitability, free up time to concentrate on your core competencies and significantly lessen your administrative burden. Today, more and more businesses are realizing the benefits of outsourcing their accounting operations to specialised professionals.
Globally, there has been an emerging trend of businesses and large corporations outsourcing their financial processes especially accounting processes to specialized professionals for better management of their resources and time.We provide the following services under Accounting Outsourcing Solutions:
Book Keeping, Payment Processing and Bank Reconciliation Services

• Monthly Management reporting
• Formulating accounting systems and procedures
• Preparation of Financial & Accounting Manuals
• Preparation of Periodic Financial Statements and Analysis of Profit & Loss Account

Payroll Outsourcing is making the use of external service providers for services of which typically are handled internally, on a regular basis. Payroll outsourcing allows you to hand over the responsibility for managing payroll maintenance and taxation risks to specialists with enough resources to monitor the situation and respond accordingly. Payroll outsourcing consulting services help increase the quality of your product or profitability or your business. Payroll Outsourcing Services really can save you valuable time when it comes to working out your payroll data. Payroll outsourcing includes receipt and analysis of payroll data, reporting the payment of payroll taxes, issuing payment and reports to employees and reporting data to end user. Payroll outsourcing is an affordable way to take away these burdens, because it is a time-saving and cost-effective alternative to internal payroll processing.

Cost Reduction
Payroll is essentially an overhead, like all overheads, organizations will be keen to control payroll costs as much as possible. A thorough cost assessment usually proves that a any business adopting payroll outsourcing saves money, time and achieve greater efficiency and transparency in payroll matters. To assess your own internal payroll costs, consider the value of time actually spect by anyone who undertakes payroll processing. Despite the potential savings, cost is not the primary reason why most firms make the payroll outsourcing leap, there are other major benefits including time saving, efficiency etc. which influence decision of any business to undertake payroll outsourcing.
Benefits
Outsourcing your payroll can provide any business with a number of important benefits. Using an outsourced payroll solution is typically more efficient for a small business than processing payroll internally. Outsourcing payroll allows an organization access to the best solutions and latest technology without the need for software upgrades or a direct investment. When you use payroll outsourcing consulting services you can focus on achieving your business goals. Outsourcing payroll will eliminated the need for keeping up-to-date with changing laws, and can significantly reduced your legal risk. No business owner looks forward to wading through the mountains of paperwork related to payroll service and employee benefits. In fact, it is estimated that one in three small businesses receive a tax penalty each year. Payroll Outsourcing to expert professionals does away with the risk of many of these penalties and hassles as an outsourced payroll provider calculates payroll taxes, based on its expertise and close tracking of regulation changes, correct and timely filing of monthly or quarterly employment tax reports are managed by the payroll service provider, Annual Tax requirements are handled directly by the payroll provider, so they are sent out on time.
Payroll outsourcing is a very common and growing practice these days. Payroll outsourcing is an affordable way to take away burdens of payroll processing, because it is a time-saving and cost-effective alternative to internal payroll processing. Outsourcing payroll will also allow you to take advantage of the payroll firm’s expertise in preparing tax documents, which can be difficult for small business owners trying to do it on their own. Outsourcing payroll can free up staff time to pursue more important value-added and revenue-generating activities. Further, Payroll outsourcing costs are negligible when compared to the expenditure incurred in processing payroll with in-house staff. Therefore, outsourcing payroll processing generates cost saving, improves focus on core business and most importantly enables growth without manpower constraints.
We provide the following services under Payroll Outsourcing Solutions:

• Preparation of Monthly Payroll
• Calculation of Individual Tax Liability of each Employee
• Calculation and Deduction of Provident Fund (PF) & Employee State Insurance (ESI)
• Preparation and Filing of Provident Fund (PF) & Employee State Insurance (ESI)Returns
• Preparation of statutory records prescribed under Provident Fund (PF) & Employee State Insurance (ESI) Acts
• Filing of Quarterly eTDS returns for salaries
• Preparation of Form 16 for employees