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Here’s a refined and comprehensive overview of “Accounting & Taxation”, explaining each term clearly, highlighting their differences, and showing how they interact—particularly valuable for businesses, students, or anyone curious about financial systems.
Accounting is a structured process of recording, summarizing, analyzing, and reporting an entity’s financial transactions. It serves as the basis for creating financial statements that reflect a business’s financial health and performance.
Taxation is the process by which governments collect mandatory payments—called taxes—from individuals and entities to fund public services and infrastructure.
Data entry involves digitizing financial transactions into an accounting system—turning physical or manual records into structured digital entries for proper tracking, processing, and reporting. Wikipedia In accounting, these entries take the form of journal entries, where every transaction updates the ledger with correctly matched debits and credits to ensure balance.
It refers to the stage in accounting where transactions are not being recorded anew. Instead, everything entered previously is verified, reconciled, and officially closed. This ensures you end the period with accurate, reliable financial statements.
GST returns are mandatory filings that report details of your sales, purchases, input tax credit (ITC), tax liabilities, and payments under India’s Goods and Services Tax (GST) framework. Monthly GST returns capture these transactions on a monthly basis and ensure transparency and compliance
An Income Tax Return (ITR) is a formal document submitted to the Indian Income Tax Department, detailing a taxpayer's annual income, tax liability, and deductions across various categories such as salary, business, capital gains, house property, and other sources.
We provide end-to-end Income Tax Audit and Return Filing services for businesses and professionals whose annual turnover exceeds ₹2 Crore. Our team ensures 100% compliance with Income Tax Act provisions while minimizing risks and helping you focus on growth.
Every registered taxpayer with turnover above the prescribed limit is required to file GSTR-9 (Annual Return) and GSTR-9C (Reconciliation Statement & Audit) under GST law. Our team ensures accurate filing, compliance, and reconciliation to help you stay stress-free and avoid penalties.
Businesses registered under the GST Composition Scheme are required to file their Annual Return in Form GSTR-4. We provide hassle-free and accurate filing services to ensure you remain fully compliant with GST law.
Every deductor who has deducted tax at source is required to file TDS Returns on a quarterly basis. We provide complete TDS return filing services to ensure compliance with Income Tax laws and avoid penalties.
Professional Tax (PT) is a state-level tax applicable on salaried employees, professionals, and businesses. Employers are required to deduct PT from employee salaries and deposit it with the state government, along with filing returns.
