What documents do I need to bring for my Income Tax Return (ITR) filing?

You primarily need your PAN card, Aadhaar card, Form 16/16A (if salaried), bank statements for the entire financial year, AIS/Form 26AS, and details of any interest income, stock transactions, or investment deductions.

Who is required to obtain GST registration in Khammam, Telangana?

Businesses dealing in goods with an annual turnover exceeding ₹40 Lakhs (or ₹20 Lakhs for services in Telangana) must register for GST. Voluntary registration is also beneficial for claiming Input Tax Credit (ITC) and inter-state trade.

How long does it take to register a Private Limited Company or LLP?

Company incorporation usually takes 5 to 7 working days, subject to MCA portal approval. It includes name reservation, Digital Signature Certificates (DSC), SPICe+ form submission, PAN/TAN issuance, and bank account setup.

Tax & Accounting Practice Area

Balance Sheet & P&L Finalization

Year-end finalization of accounts, balance sheets, and profit & loss statements.

Statutory Provisions & Governing Mandates

Act 2025

Statutory Tax Audit Mandate

Section 63 [Old Sec 44AB] (Due 30 Sept)

Act 2025

Fixed Assets Depreciation Block

Section 33 Table (10 Statutory Blocks)

Act 2025

Minimum Alternate Tax (15% MAT)

Section 206 [Old Sec 115JB Book Profits]

MCA / Labour

Financial Statement Disclosures

Companies Act, 2013 Schedule III

Practice OverviewView Statutory Rates

The culmination of a financial year requires the translation of raw ledgers into finalized, certified Financial Statements. The Balance Sheet and Profit & Loss Statement are the definitive documents that stakeholders—including banks, investors, and tax authorities—use to evaluate the health and profitability of your business.

We execute a rigorous year-end finalization process. This involves calculating precise depreciation, creating provisions for outstanding taxes, adjusting closing stock, and ensuring complete compliance with the disclosure requirements of the Companies Act, Section 63 Direct Tax Audits, and Income-tax Act, 2025.

Key Capabilities & Statutory Deliverables

Year-End Provisions & Accruals

We meticulously pass adjustment entries for outstanding expenses, accrued incomes, prepaid expenses, and tax provisions to ensure true accrual-based accounting.

Asset Capitalization & Depreciation

Accurate maintenance of the Fixed Asset Register. We calculate complex depreciation schedules aligned precisely with both the Companies Act (useful life) and Section 33 block of assets (Act 2025) / Section 32 (1961 Act).

Capital & Current Account Adjustments

For partnerships and proprietorships, we precisely allocate net profits, calculate interest on capital, and adjust partner drawings to finalize the capital accounts.

Management Representation Drafts

Preparing comprehensive notes to accounts and auditor reports that explain critical accounting policies, contingent liabilities, and related-party transactions to stakeholders.