Question 1

What tax services does C S Kakkad & Associates offer for businesses in Dwarka?

Accepted Answer

C S Kakkad & Associates provides end-to-end business taxation services including GST registration and return filing, corporate income tax strategy, TDS deductions, annual filings, and representation before tax authorities.

Question 2

Who is required to undergo a Tax Audit under Section 44AB in India?

Accepted Answer

Under Section 44AB of the Income Tax Act, a tax audit is mandatory for businesses with annual turnover exceeding ₹1 Crore (or ₹10 Crore if cash receipts are under 5%), and for professionals with gross receipts exceeding ₹50 Lakhs.

Question 3

How does the GST registration process work with C S Kakkad & Associates?

Accepted Answer

The firm handles GST registration completely digitally. All required documents (PAN, Aadhaar KYC, place of business proof, bank details) are compiled, verified, and uploaded to the GST portal, securing the GSTIN within 3 to 7 working days.

Question 4

Can C S Kakkad & Associates help secure a commercial business loan or bank credit?

Accepted Answer

Yes. The firm specializes in Business Finance & Loan Syndication, preparing detailed Project Reports, CMA data (Credit Monitoring Arrangement), and multi-year financial forecasts to secure term loans, CC limits, and working capital from leading commercial banks.

Question 5

What is the difference between a statutory audit and an internal audit?

Accepted Answer

A statutory audit is legally mandated by law to provide a true and fair view of financial statements to external authorities, shareholders, and tax departments. An internal audit evaluates internal checks, prevents financial leakages, and enhances process efficiency for company management.

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Statutory Acts & Rules

Acts, Rules & Statutory Codes

Income Tax Act, 1961

Customs Act, 1962

The Companies Act, 2013

The Limited Liability Partnership Act, 2008

Chartered Accountants Act, 1949 [As amended]

Company Secretaries Act, 1980 [As amended]

Cost and Works Accountants Act, 1959 [As amended]

The Societies Registration Act, 1860

Right to Information (RTI) Act, 2005

The Foreign Exchange Management Act, 1999 (FEMA)

Reserve Bank of India Act, 1934

Central Goods and Services Tax (CGST) Act, 2017

Integrated Goods and Services Tax (IGST) Act, 2017

Union Territory Goods and Services Tax (UTGST) Act, 2017

GST (Compensation to the States) Act, 2017

Insolvency And Bankruptcy Code, 2016 (IBC)

Customs Tariff Act, 1975

Income Tax Rules, 1962

Wealth Tax Rules, 1957

The Companies (Registered Valuers and Valuation) Rules, 2017

Central Goods and Services Tax (CGST) Rules, 2017

Integrated Goods and Services Tax (IGST) Rules, 2017