Services – Finconser

Our Services

Explore services

Unlock financial potential with Finconser. Your success, our expertise.

Income Tax

Income Tax Services refer to the assistance and guidance provided to individuals and businesses in complying with income tax regulations set forth by the government.

Startup Tax Solutions

Tailored tax planning and compliance services for startups.

Accounting Services

Accounting Services encompass a range of financial tasks and activities aimed at recording, analyzing, and reporting financial information to stakeholders.

Good and Service Tax (GST)

GST registration, filing, and compliance services tailored to your business needs.

Income Tax Services typically include

Income Tax Services

Tax Planning

Strategizing to minimize tax liabilities through legal means, such as deductions, credits, and exemptions, while maximizing tax benefits.

Tax Preparation

Gathering and organizing financial information to accurately prepare and complete tax returns.

Tax Filing

Submitting income tax returns to the relevant tax authorities within the prescribed deadlines.

Tax Advisory

Providing expert advice on complex tax issues, such as investments, deductions, and tax credits, to optimize financial outcomes.

Tax Refund

Taxpayers rejoice as income tax refunds bring financial relief, fostering optimism amidst fiscal uncertainties.

Financial Statement Preparation

Compiling financial statements, including the balance sheet, income statement, and cash flow statement,

Accounting Services typically include

Accounting Services

Bookkeeping

Recording day-to-day financial transactions, such as sales, purchases, receipts, and payments, in an organized manner.

Financial Analysis

Analyzing financial data to identify trends, patterns, and areas for improvement, and providing insights to support decision-making.

Tax Compliance

Ensuring compliance with tax laws and regulations by accurately calculating and reporting taxes owed, filing tax returns, and fulfilling other tax-related obligations.

Audit Support

Assisting with audits by providing documentation, reconciliations, and explanations to auditors to verify the accuracy and integrity of financial information.

Financial Statement Preparation

Compiling financial statements, including the balance sheet, income statement, and cash flow statement, to provide a snapshot of the company’s financial performance and position.

GST Services typically include

Goods and Service Tax (GST)

Registration

Assisting businesses in obtaining GST registration, which is mandatory for entities involved in the supply of goods or services exceeding the specified threshold turnover.

Tax Calculation

Calculating the GST liability on various transactions, considering factors such as input tax credits, exemptions, and applicable tax rates.

Filing Returns

Preparing and filing periodic GST returns, such as GSTR-1 (outward supplies), GSTR-3B (summary return), and GSTR-9 (annual return), within the prescribed deadlines.

Compliance

Ensuring compliance with GST laws and regulations, including maintaining proper records, issuing tax invoices, and adhering to invoicing rules.

Audit Support

Providing assistance during GST audits conducted by tax authorities, including documentation, reconciliations, and responses to queries.

Advisory Services

Offering expert advice on GST-related matters, such as classification of goods and services, input tax credit eligibility, and compliance requirements.

GST Refund

Businesses celebrate as GST refunds alleviate financial burdens, boosting cash flow and encouraging economic growth.

Costing & Cost Report Services typically include

Costing & Cost Report

Data Collection

The process begins with gathering data related to all the expenses incurred during the production or service delivery process. This includes direct costs such as raw materials and labor, as well as indirect costs like overhead expenses.

Cost Classification

Once the data is collected, it needs to be classified into different categories based on their nature and relationship to the production process. This step helps in organizing the data for further analysis.

Cost Allocation

After classification, costs are allocated to specific cost centers or cost objects based on their usage. This step involves distributing indirect costs among various departments or products using suitable allocation bases.

Cost Calculation

Using appropriate costing methods such as job costing, process costing, or activity-based costing, the total cost of production or service is calculated. This includes aggregating all the direct and indirect costs associated with each cost center or cost object.

Cost Analysis

Once the costs are calculated, they are analyzed to identify cost drivers, cost behavior patterns, and areas of cost inefficiencies. This analysis helps in understanding the factors influencing costs and identifying opportunities for cost optimization.

Preparation of Cost Report

Based on the analysis, a comprehensive cost report is prepared. This report includes detailed information about the various cost components, cost allocations, cost drivers, and cost behavior patterns. It provides insights into the financial performance of the business and serves as a basis for decision-making.

Presentation and Communication

The final step involves presenting the cost report to relevant stakeholders such as management, investors, or regulatory authorities. Clear and concise communication of cost-related information is essential to ensure understanding and informed decision-making.

Auditing Services typically include

Auditing Services

Internal Audit

An internal audit is conducted by an organization’s internal auditors to evaluate internal controls, risk management practices, and operational efficiency. It helps identify weaknesses, improve processes, and enhance governance.

Tax Audit

A tax audit is mandated by tax authorities to verify the accuracy and completeness of tax returns filed by individuals or businesses. It aims to ensure compliance with tax laws and regulations and may be conducted by external auditors or tax authorities.

Forensic Audit

A forensic audit involves the investigation and examination of financial records and transactions to uncover fraud, financial misconduct, or irregularities. It is often performed in response to suspected fraud or legal disputes and requires specialized skills in forensic accounting and investigation techniques.

Payrolling Services typically include

Payrolling Service

Payroll Processing

Calculating employee wages, salaries, bonuses, and deductions based on time worked, attendance records, and other relevant factors.

Tax Deduction and Compliance

Withholding and remitting employee taxes, such as income tax, social security contributions, and other statutory deductions, to the appropriate government agencies.

Benefits Administration

Managing employee benefits, such as health insurance, retirement plans, and other fringe benefits, and ensuring accurate deductions and contributions.

Recordkeeping

Maintaining accurate and up-to-date records of employee earnings, deductions, and other payroll-related information for compliance and reporting purposes.

Payroll Reporting

Generating and filing payroll-related reports, such as payroll tax returns, wage statements, and year-end summaries, to regulatory authorities and employees.

Direct Deposit and Payment Distribution

Facilitating direct deposit of employee wages into their bank accounts or issuing paper checks, as per the preferred payment method.

Compliance Monitoring

Staying abreast of changes in labor laws, tax regulations, and payroll-related requirements to ensure compliance and mitigate risks.

TDS Solutions typically include

Tax Deducted at Source (TDS)

TDS Calculation

Calculating the amount of TDS to be deducted based on the prescribed rates and thresholds specified by tax authorities.

TDS Deduction

Withholding the appropriate amount of tax from payments made to employees, vendors, contractors, etc., as per the TDS provisions.

TDS Filing

Preparing and filing TDS returns, such as Form 26Q for TDS on payments other than salaries and Form 24Q for TDS on salaries, with the tax authorities within the stipulated deadlines.

Compliance Monitoring

Monitoring changes in TDS rates, thresholds, and Compliance requirements to ensure timely compliance with regulatory obligations.

TDS Certificate Issuance

Issuing TDS certificates, such as Form 16 for TDS on salaries and Form 16A for TDS on other payments, to recipients as proof of tax deduction.

Provident Fund (PF)

Provident fund

Contributions

Both the employer and the employee contribute a certain percentage of the employee’s salary to the PF account.

Accumulation

Contributions made to the PF account accumulate over time.

Withdrawals

Employees can withdraw from their PF account for various purposes, such as retirement, resignation, or emergencies.

Tax Benefits

Contributions made by the employee to the PF account are eligible for tax deductions under Section 80C of the Income Tax Act, up to a certain limit.

Administration

The Employees’ Provident Fund Organisation (EPFO), a statutory body under the Ministry of Labour and Employment, administers the PF scheme in India.

Transferability

PF accounts are portable, meaning if an employee changes jobs, the PF account can be transferred from one employer to another.

The Employee State Insurance (ESI)

Employee State Insurance

Coverage

The scheme covers various types of employment, including factories, establishments, and certain categories of workers as specified by the law.

Contributions

Both the employer and the employee contribute to the ESI fund. The current contribution rates are 4% of the employee’s wages for the employer and 1% for the employee.

Benefits

ESI provides a range of benefits to insured employees and their dependents.

Administration

The Employees’ State Insurance Corporation (ESIC) administers and regulates the ESI scheme across India.

Healthcare Facilities

ESIC operates a network of hospitals, dispensaries, and medical facilities across the country to provide medical services to insured employees and their dependents.

Compliance

Employers are legally obligated to register under the ESI scheme if they employ eligible workers and contribute to the fund on behalf of their employees.

Startup Tax Solutions typically include

Startup Tax Solution

Entity Structuring

Advising startups on the most suitable legal entity structure, such as sole proprietorship, partnership, limited liability company (LLC), or corporation, considering factors like liability protection, tax implications, and scalability.

Tax Planning

Developing tax-efficient strategies tailored to the startup’s specific circumstances, including maximizing deductions, credits, and incentives available to startups, such as research and development (R&D) tax credits, angel investor tax credits, and small business tax deductions.

Equity Compensation Planning

Assisting startups in designing equity compensation plans, such as stock options, restricted stock units (RSUs), and phantom stock plans, to attract and retain talent while minimizing tax implications for both the company and employees.

Funding and Financing Tax Strategies

Providing guidance on tax implications related to various funding sources, such as venture capital, angel investments, crowdfunding, and debt financing, and structuring transactions to optimize tax efficiency.

Compliance Assistance

Helping startups comply with all tax filing requirements, including federal, state, and local tax returns, as well as sales tax, payroll tax, and other regulatory filings.

Tax Incentive Programs

Identifying and assisting startups in leveraging tax incentive programs available at the federal, state, and local levels.

Financial Consulting services typically include

Financial Consulting

Financial Planning

Assisting clients in creating comprehensive financial plans tailored to their specific objectives, risk tolerance, and time horizon.

Investment Advisory

Providing guidance on investment strategies, asset allocation, and portfolio management to help clients build and manage investment portfolios that align with their financial goals and risk preferences.

Risk Management

Identifying and assessing financial risks, such as market risk, credit risk, liquidity risk, and operational risk, and developing strategies to mitigate these risks effectively.

Cash Flow Management

Helping clients optimize cash flow by analyzing income sources, expenses, debt obligations, and liquidity needs.

Business Advisory

Offering strategic advice and guidance to businesses on various financial matters, including financial analysis, budgeting, forecasting, mergers and acquisitions, capital budgeting, and financing options.

Tax Planning

Developing tax-efficient strategies to minimize tax liabilities and maximize tax savings for individuals, businesses, and organizations while ensuring compliance with tax laws and regulations.

Financial Reporting and Analysis

Assisting clients in interpreting financial statements, conducting financial analysis, and generating reports to evaluate financial performance, identify trends, and make data-driven decisions.

Key components of Business Planning include

Business Planning

Vision and Mission

Defining the long-term vision and mission of the business, including its purpose, values, and aspirations.

Market Analysis

Conducting research and analysis of the target market, industry trends, competitor landscape, customer needs, and potential opportunities and threats.

SWOT Analysis

Assessing the business’s strengths, weaknesses, opportunities, and threats to identify areas for improvement and competitive advantage.

Goal Setting

Establishing specific, measurable, achievable, relevant, and time-bound (SMART) goals and objectives to guide business growth and development.

Strategy Development

Formulating strategic plans and initiatives to achieve the business’s goals, including marketing strategies, sales strategies, product development plans, and operational strategies.

Key MCA Services include

MCA Services

Company Registration

Facilitating the incorporation of new companies, including private limited companies, public limited companies, limited liability partnerships (LLPs), and other types of entities, through the online portal.

Company Name Reservation

Allowing businesses to reserve a unique name for their company before the actual registration process begins, ensuring that the chosen name is not already in use.

Annual Compliance Filing

Requiring registered companies and LLPs to file annual returns, financial statements, and other compliance documents with the Registrar of Companies (RoC) within the prescribed deadlines to maintain legal compliance.

Director Identification Number (DIN) Registration

Issuing DINs to individuals appointed as directors of companies, enabling them to comply with regulatory requirements and represent the company in official matters.

Company Annual Report Filing

Mandating companies to file annual reports containing financial statements, director reports, and other statutory disclosures with the MCA, providing transparency and accountability to stakeholders.

Change of Company Address or Directors

Allowing registered companies to update their registered office address, appoint or resign directors, and make other changes to company details as required.

Company Closure or Liquidation

Facilitating the voluntary winding-up or dissolution of companies through the online portal, including filing necessary documents and obtaining approvals from regulatory authorities.

Investor Grievance Redressal

Providing a platform for investors and stakeholders to lodge complaints, grievances, or queries related to companies, directors, or corporate governance practices.

Corporate Compliance Monitoring

Monitoring compliance with the Companies Act

Import Export Code (IEC) Registration

The process of obtaining IEC Registration involves the following steps:

Application Submission: The applicant must submit an online application for IEC Registration on the DGFT website or through authorized agencies.
Document Submission: The applicant is required to upload supporting documents, such as identity proof, address proof, bank certificate, and PAN card, along with the application.

Fee Payment: A prescribed fee must be paid online for processing the IEC Registration application.

Processing and Approval: The DGFT verifies the application and supporting documents and issues the IEC Registration certificate electronically upon approval.
Validity: The IEC Registration certificate is valid for the lifetime of the entity and does not require renewal.
Refund: Importers and exporters buoyed by timely refunds, facilitating smoother trade operations and bolstering international commerce.

Trade Mark Registration

The process of Trademark Registration typically involves the following steps:

Trademark Search: Conducting a comprehensive search to ensure that the proposed trademark is not identical or confusingly similar to existing trademarks already registered or in use. This helps avoid potential conflicts or objections during the registration process.

Application Filing: Submitting a trademark application to the designated trademark office along with the required documents, including a representation of the mark, details of the applicant, and a list of goods or services for which registration is sought.
Examination: The trademark office examines the application to ensure compliance with legal requirements and conducts a substantive examination to assess the distinctiveness and registrability of the proposed trademark.

Publication: If the trademark application meets the necessary criteria, it is published in the official trademark journal for public scrutiny. Interested parties have the opportunity to oppose the registration within a specified period if they believe their rights may be affected.

Registration: If no opposition is filed or successfully defended, and the trademark application satisfies all legal requirements, the trademark office registers the trademark and issues a registration certificate to the applicant. The registration confers exclusive rights to use the trademark in connection with the specified goods or services.

Renewal: Trademark registrations are typically valid for a specified period, after which they must be renewed to maintain protection. Renewal applications can be filed periodically to keep the trademark registration in force.

Trademark Registration provides several benefits to the owner, including:

Legal Protection: Registered trademarks enjoy statutory protection against unauthorized use or infringement by others, allowing the owner to enforce their rights through legal remedies.

Brand Recognition: Trademark registration helps build brand recognition and goodwill among consumers, distinguishing the owner’s products or services from competitors in the market.
Market Exclusivity: The owner of a registered trademark has the exclusive right to use the mark in connection with the specified goods or services, preventing others from using identical or similar marks in the same industry.

MSME / UDYAM Registration

The key features and benefits of MSME / Udyam Registration include:

Legal Recognition: MSME / Udyam Registration provides legal recognition to businesses as micro, small, or medium enterprises based on their investment in plant and machinery or equipment and turnover.

Access to Credit: Registered MSMEs are eligible for various financial incentives, subsidies, and schemes offered by the government and financial institutions, including priority sector lending, collateral-free loans, and concessional interest rates.

Protection from Delayed Payments: The Micro, Small, and Medium Enterprises Development (MSMED) Act provides protection to registered MSMEs against delayed payments for goods and services supplied to buyers, ensuring timely receipt of payments.

Subsidies and Incentives: MSMEs may be eligible for subsidies, tax benefits, and incentives provided by the government to promote entrepreneurship, innovation, and growth in the MSME sector.

Preferential Procurement: Government agencies and public sector enterprises often give preference to products and services offered by MSMEs, providing opportunities for business growth and expansion through government procurement contracts.

Regulatory Ease: MSME / Udyam Registration simplifies regulatory compliance for businesses by providing a single registration platform for various statutory requirements, such as GST, EPF, ESI, and other business licenses.

The process of MSME / Udyam Registration involves:

Eligibility Determination: Businesses must meet the eligibility criteria based on investment in plant and machinery or equipment and turnover to qualify for MSME / Udyam Registration.

Online Registration: The registration process is conducted online through the Udyam Registration portal, where businesses need to provide details such as Aadhaar number, PAN number, business information, and bank account details.

Verification and Approval: The registration application is verified by the authorities, and upon successful verification, a unique Udyam Registration Number (URN) is issued to the business entity.

Certificate Generation: A digital certificate of MSME / Udyam Registration containing the URN and other relevant details is generated and made available to the registered business entity.

24/7 Customer Care

24/7 Customer Care: Your queries, our priority.

Flexible Fee

Flexible Fee: Tailored to Your Needs.”

Top Industry Specialists

Where Top Industry Specialists Shape Your Financial Success.

Why Work With Us

Business is at the heart of everything we do

At Finconser, business is at the heart of everything we do. We’re dedicated to empowering your financial success, providing expert services, and ensuring seamless compliance. Your business goals drive our passion!

Our Approach

Help with great approach

Let’s help you grow your business

we’re passionate about your business growth. Let us be your financial partner, providing expert services and strategic guidance. Together, we’ll elevate your success!