FAQs

Registration depends on your turnover, the nature of your supplies and the state you operate in. Some categories must register irrespective of turnover.

Applications are usually processed within 7 to 10 working days, subject to departmental verification.

Note the date of the notice and the period it allows for a response — that period runs from the date of the notice, not from when you read it. Then send us the complete notice, including annexures, along with your registration details.

Most notices arise from a difference the system has flagged rather than from an allegation of wrongdoing, and are resolved by a reply with the supporting records. Allowing the period to lapse is what turns a manageable query into a costly one.

A statutory audit is required by the law governing the entity — every company requires one regardless of turnover — and results in an opinion on whether the financial statements give a true and fair view.

A tax audit is required under the Income Tax Act where turnover or gross receipts cross the prescribed limits, and results in a report on specified particulars relevant to computing taxable income. An entity may require both.

Usually, yes, provided the underlying records still exist — bank statements, purchase bills and sales records. We start by assessing what is available and what is missing, and set out what it will take to bring the books current before doing the work.

Where documents are genuinely unavailable, we will tell you what can be reconstructed and what cannot, rather than filling gaps with assumptions.

It depends on who bears the liability, how you expect to fund the business, and how much annual compliance you are willing to carry. A proprietorship is simplest but leaves you personally liable without limit. An LLP limits liability with moderate compliance. A private limited company offers limited liability and the clearest route to outside investment, with the heaviest compliance.

There is no answer that is right for everyone. Tell us what you are planning and we will set out the trade-offs on your facts.

Typically your PAN and Aadhaar, Form 16 from each employer, bank statements covering interest income, proofs for the deductions you intend to claim, and capital gains statements from your broker or mutual fund house where applicable.

Where you have business or professional income, the accounts for the year are also needed. We send a checklist matched to your situation rather than a generic list.

It depends entirely on your own figures — specifically on how much you actually claim in deductions. The regimes tax the same income at different rates and allow different reliefs, and the answer can change from year to year as your circumstances change.

We compute both on your numbers and show you the difference, so the choice is made on evidence rather than on a general rule of thumb.

It is designed for small and mid-sized organisations, but suitability depends on whether your requirements have actually outgrown a simpler system — transaction volume, multiple locations, several people needing controlled access to the same data, or reporting your current package cannot produce.

If a simpler system would serve you, we will say so. An ERP implemented over processes that are not yet settled tends to formalise the problems rather than solve them.