Changing times and business requirements have altered and increased the importance of Chartered Accountants. A business involves a lot of tasks which require professionals who are expert in financial matters. Chartered Accountants are hired by the organizations to increase the profits and reduce costs. Other things that are included in their job responsibilities are maintaining financial statements, book keeping, auditing, tax filings, liabilities, etc. However, the requirement of a Chartered Accountant is not only limited to an already set-up business but starts even before starting a new business. Here are some of the benefits of hiring a Chartered Accountant in Delhi.

What are the Benefits of Hiring Chartered Accountant?

  • Setting Up A New Business – A Chartered Accountant will inform you about the various business formats and the risks involved. He will tell you whether you should work as a sole proprietor, partnership or limited company. He will tell you whether you need to register for VAT in sole proprietorship or how will the partners be sharing the legal liabilities in a partnership. If you are interested in setting up a limited company, they will inform you about the strict rules for companies about preparing and publishing accounts, filing returns and taking out money.
  • Record Keeping If a business is registered for VAT, then it is required to keep a proper record of the finances to calculate the tax. The custom and excise duty requirements make it compulsory not only to maintain the records properly but also check it from time to time. The Chartered Accountant prepares management figures and also suggests about the implications of the financial decisions in board meetings.
  • Cost Controlling The Chartered Accountant will help to draw realistic budgets and analyze the organization’s performance on that budget. He will also tell you to control and balance the fixed and variable costs. He can make sure that all the daily business activities are designed to prevent errors and provide checks.
  • Taxation A Chartered Accountant can only tell you about reducing tax bills. There are many opportunities available for the business organizations to legally save tax. Therefore, it is better to take the advice a Chartered Accounting before going for a financial transaction. You can also take his help while paying your employees and ask cost efficient ways to reduce the overall costs.

Looking for a reliable Chartered Accountant? If yes, then PRAKASH K PRAKASH is the right name for you. It is a reputed firm of Chartered Accountants based in Delhi, India. It has been serving a wide range of clients since the last 30 years with its unmatched services. Some of its services are Accounting, Auditing, Business process outsourcing, Income Tax, Financial Accounting Services, Import-Export Consultancy, Service tax matters, Limited Liability Partnership and many more.