Virtual CFO Services
Accounting, Tax & GST
Setindiabiz Virtual CFO helps startups and small businesses focus on their growth while we handle their accounting, as well as monthly or quarterly TDS and GST filing. Our services are affordable and accountable. Talk to us to get started.
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CFO Services for Startup & Small Business in India
You are not alone; more than 85% of businesses in India outsource their tax filing to a consultant, and in the case of small businesses, the number is more than 95%. Setindiabiz is a team of experienced professionals and accountants with over two decades of experience handling your bookkeeping, GST and TDS filing compliance. Availing of our virtual CFO Services is a wise decision given the laws and regulations such as accounting standards, companies act, LLP act, income tax act, and GST Act, which runs over 10,000 pages and possibly more.
What are virtual CFO services offered by Setindiabiz
Our virtual cfo services in India relieve you of your worries and offer financial reporting, discipline and corporate governance through remote accounting and responsible tax filing services. While this page is dedicated to accounting, TDS, and GST filing, you may also benefit from our payroll and compliance retainership services.
Benefits of CFO Services
- Cost-Effective
- Expert Financial Guidance
- Compliance and Reporting
- Scalable Solutions
- Data-Driven Decisions
Customised Quote: The standard pricing of our Virtual CFO packages is designed to help small businesses based on the number of transactions, turnover, and employee strength. Please write to us for a customised quotation to meet your specific accounting and tax filing needs. You may also explore standalone GST Return or TDS Return Filing services.
Our the Best Virtual CFO Service Types in India
We offer CFO Services for accounting, tax filing, payroll, labour law compliance, and company secretarial services. You may avail yourself of any or all of our standalone GST or TDS Return filing services, comprehensive accounting, payroll and labour law services, and secretarial compliance.
Virtual CFO Services
One dedicated accountant from our office works closely with you to complete bookkeeping every month and file the GST and TDS Returns hassle-free and before the due dates. Explore Pricing
Standalone GST or TDS Filing
For businesses with up to 5 to 10 transactions and who would prefer annual accounting, we offer standalone services for filing the GST Return or the TDS Return at an affordable pricing. GST Returns | TDS Returns
Payroll & Labour Law Returns
We offer monthly payroll services based on the number of employees. The service includes monthly payroll, TDS computation for employees, PF, ESIC, professional tax, and LWF return filing. Learn More
Companies Act Retainer
The Companies Act 2013 requires every company to maintain a set of registered minutes of the Board of Directors and shareholders meetings. We help you with Corporate Governance. GST Returns
Accounting for Small Business
Accounting is the backbone of every business where a trained person needs to record all the business transactions, such as purchases or sales, in the case of a trading company and, for the service sector, the billing for the services provided. The payments and receipts in the bank or cash must also be identified and recorded in the appropriate ledger to make a correct balance available. We have seen businesses needing help with this essential finance function. Therefore, our accounting services and the Virtual CFO Services are beneficial. In the following paragraphs, we have dealt with the regulatory aspect of accounting for the companies and the LLP.
Accounting For Companies
Section 128 of the Companies Act 2013 provides mandatory preparation and maintenance of Books of Account for Companies in India. It further provides that the accounting should be prepared in a double-entry system of bookkeeping and must be kept at the registered office of the company. In case the books of account are not maintained at the registered office of the company, then the address of such other place must be reported to the ROC in form AOC-5 within seven days of the decision to maintain the books of account at a place other than the registered office by the Board.
Accounting for the LLP
Similar provisions are provided in Section 34 of the LLP Act, 2008. The LLP is also mandated to maintain proper records and books of account that reflect its correct financial position. Just like companies, the books of account of the LLP must be kept at the registered office of the LLP. There is no provision under the LLP Act regarding maintaining the books of account at some other place than the registered office of the LLP.
Audit Log Feature in the Accounting Software
Companies that maintain their books on accounting software, such as Tally, Busy, Zoho, etc., must have the audit log feature enabled. This feature records every change made in the Books of Account.
Digital Accounting Support
Digital accounting helps owners track real-time financial transactions on their mobile devices. Unlike traditional accounting systems, where the reports are prepared and shared by accountants, digital accounting systems allow business owners access to real-time reports. We have a pool of trained accountants to help you migrate to new-age cloud-based accounting systems such as Zoho Books and Zoho Inventory. We have the best virtual cfo services in India.
Popular Accounting Software in India
Tally
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Busy
Marg
Monthly Financial Statements & MIS
In our CFO package, we provide monthly financial statements after the end of a particular month that comprise the Trial Balance, Profit and Loss Account and the Balance Sheet. The trial balance shows the closing balance of a specific ledger, which helps in collecting outstanding balances from customers. The profit and loss account gives a clear picture of revenue vs expenses and Individual components affecting the profitability of the company. The balance sheet helps you understand the correct position of the company’s assets and liabilities.
Benefits of Finance Department MIS
- Benefits of Finance Department MIS
- Accurate and Timely Reporting
- Data-Driven Decision-Making
- Automated Accounting Processes
- Streamlined Financial Workflows
- Regulatory Compliance Automation
- Early Risk Identification
- Detailed Expense Tracking
- Optimised Resource Allocation
- Scalable to Support Business Growth
GST Return Filing
GST is levied on the supply of goods and services. To follow various provisions under the GST, the taxpayers are required to file periodical GST Returns. The returns under GST contain the details of supplies made, a statement of input tax and outward GST payable, and details on how GST liability is discharged. Based on the type of the taxpayer and the nature of transactions, various returns under GST may be required to be filed. Our accountants and tax filers analyse the requirements of GST Filing and do what is necessary. The virtual CFO packages take care of all the compliances relating to GST.
Types of GST Returns
- GSTR-1 : Details of Outward Supplies
- GSTR-2A : Details of Inward Supplies
- GSTR-3B : Summary Return
- GSTR-4 : Return for Composition Scheme
- GSTR-5 : For Non-Resident Persons
- GSTR-6 : For Input Service Distributors
- GSTR-7 : For Tax Deductors:
- GSTR-8 : For E-commerce Operators
- GSTR-9 : Annual Return
- GSTR-10 : Final Return
TDS Payment & Quarterly Return Filing
TDS is the short form of Tax Deducted at Source, also known as withholding Tax. While making payments against bills such as Rent, professional fees, contractors, etc., the TDS must be deducted at the applicable rate prescribed under the Income Tax Act. These deductions are mandatory, and the TDS’s non-deduction would amount to the disallowance of such expenses while computing the Income Tax Liability. The TDS deducted during the month needs to be deposited to income tax within the seventh of next month.
Quarterly Return Filing
| Quarter | Period | TDS Return Due Date | Date to Issue Form 16 |
|---|---|---|---|
| Q1 | April to June | 31 July | 15 August |
| Q2 | July to September | 31 October | 15 November |
| Q3 | October to December | 31 January | 15 February |
| Q4 | January to March | 31 May | 15 June |
Frequently
Asked
Questions
Frequently Asked Questions
No, virtual CFO services for small businesses are a comprehensive solution where we take care of accounting and tax filing concerns. In fact, our offerings are just a fraction of the salary that you need to pay to one or more accountants to do accounting and tax filing on behalf of your business.
Yes, your information is safe with us. We follow the best security systems, and communications with you is through a ticketing system powered by Zoho Corporation. Our email servers are hosted with Google.
We have experience and a trained pool of accountants and tax filers who are trained to deliver exceptional bookkeeping and tax compliance services. For small businesses, we have a tailored package to enhance transparency in our dealings. We have large businesses as our clients, and we offer a customised solution, including accountants at their offices. Hire virtual CFO services from us now.
The first step is to book a preliminary consultation with us. In the consultation session, we evaluate the time required and the packages that would be most suitable for you. If readymade pricing is not appropriate, we customise the service package for your needs.
Our packages are mentioned at the beginning of this page under the pricing section. If your business does not fit in the predefined packages, you may opt for a customised quotation.
Yes, all virtual CFO services are offered remotely through a dedicated accountant who works for a limited number of businesses like yours. If you need an accountant at the site, we can provide a customised package.
Key virtual CFO services are essentially accountant services. However, they may be customised to cover advanced areas such as MIS, Reporting, Cash Flow management, and budgeting. You can increase the scope of services by including our payroll services and CS Compliances.
The immediate advantage of availing virtual CFO Services is that it reduces compliance costs. As an add-on, you also get access to expert consultation and quality and timely tax filing services.
Affordability is one of Virtual CFO Services' unique propositions. Instead of hiring an accountant or another tax expert, you may outsource accounting and tax filing services to us at a fraction of the cost of full-fledged employees, especially when the number of transactions is not very large.
A big company can afford to hire a full-time CFO and junior staff under him to meet the business's compliance requirements. The Virtual CFO is great for small businesses.