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Services
Secure your financial
future with Touchstones
Accounting/Book Keeping Services
Touchstones has been providing a full suite of accounting services from transactional to compliance and control. With a broad range of expertise in a multiple industries, we offer proven and tailored made solutions to help meet your specific needs.
Our Book keeping Services are focused on reducing the finance and accounting costs of our clients by helping them with their management, accounting and tax preparation needs. Touchstones’ personalized and professional online bookkeeping services cover the entire scope of bookkeeping. We function just as customers’ virtual back office for all their bookkeeping and accounting work right from set-up, support, maintenance and consultancy with accounting. By outsourcing bookkeeping you can benefit from the cost advantages of Touchstones’ professional finance and accounting services.
Touchstones has proficiency across all the major accounting software used in the industry for bookkeeping services, such as QuickBooks, Tally ERP, Simply Accounting etc.
Foreign Companies
Setting up Business in India
If you are based in USA, UK, Germany, Singapore, Hong Kong, Australia or anywhere in the world we are here to help you set up your business in India. Indian economy is booming and provides for a huge business potential for Companies looking for relatively low cost operations and promising talent which can transform your business and help with diversification and innovation.
Perhaps your products are already being distributed in India through a third party distributor. Perhaps you have already outsourced software development or other business processes to an Indian service provider and are looking to establish your presence in India you need professionals. Touchstones is the right destination for you with professionals who can assist you with the legal and regulatory registrations, advice on business structure in compliance with transfer pricing norms, suggest suitable capital structure, help in opening bank accounts, and take care of accounting, payroll and taxes.
Payroll Processing
We take care of the entire hire-to-retire lifecycle. This enables your HR team to concentrate on people and relationships rather than paperwork and compliances. Organizations can benefit greatly by outsourcing payroll process in terms of saved time and reduced costs. This enables you to channelize the free resources to value-added core activities, in addition to leaving the job to the experts. We assist our clients in optimizing their payroll with use best in class software for speedy and accurate processing
Payroll
- Compilation of salary structure of the employees based on the company’s policy.
- Computation of individual payroll as per the employment letters.
- Calculation of withholding tax as per income tax laws, provident fund, Employees state insurance and other statutory deductions.
- Arrangement of timely salary disbursements into the bank account of the respective employees as per the Company’s Policy.
- Arranging payments of withholding tax and other statutory dues with the relevant government authorities.
- Arranging salary certificates to the employees as per the tax laws.
- Processing final settlement payments if any in respect of employees leaving the company.
- Filing of monthly/annual return with statutory authorities such as income tax, provident fund, professional tax, etc.
- Issuing required statutory forms at the end of the year.
- Maintenance of leave records relating to the employees.
- Compliance with relevant taxation requirements
- Employee master maintenance
- Periodic payroll processing
- Timely final settlements
- Extensive MIS reports
- Financial entries in your financial system
- Tracking balances of entitlements and claims
- Compliance with tax laws
- Share best practices to help improve your processes
Employee Reimbursements
Ensure compliance with company policies
Electronic fund transfers for reimbursements
Track & report limits and balances
Statutory Compliance
In respect of the following, we shall carry out the periodic compliance viz payment of various statutory dues on the due dates, filing of relevant statutory returns as required under the relevant statutes including the registrations under the said Acts.,
- Shops and Establishment Act.
- Tax Deducted at Source (ETDS).
- Profession Tax Act.
- Provident Fund.
- Employees State Insurance (ESI).
- GST
- Trade License
- Factory License
- STPI or any Import or Export related compliances
- FEMA and RBI
- FDI through automatic or approval route
- ROC
Please note that the above accounting, payroll and statutory compliances will vary from one Country to another, based on their accounting standards and the laws applicable.
Management Consultancy Services (MCS)
With our Management Consultancy Services, we intend to provide customized consulting solutions with industry based approach to enable businesses achieve operational excellence in the areas of business process, risk, controls and governance. We partner with our clients and adopt a collaborative approach in helping you achieve your goals.
Our professional approach guarantees you an unparalleled level of excellence that goes far beyond mere service delivery and results in qualitative services at competitive pricing and immense client satisfaction. Integrity and professional competence are the cornerstones of our firm.
Governance & Risk Management Services
Internal audits
- Setting up of Internal Audit function
- Undertaking internal audits
- Developing risk-based assurance plans
- Identifying and monitoring Key Risk Indicators in continuous monitoring
- Risk Management
- Assist businesses in analyzing their risk management, internal compliance and control system including the effectiveness of implementation
- Provide a deeper understanding of the enterprise risks to executive management and link them to the organizations objectives, initiatives, and business processes
- Help operations become more efficient, with faster work flows and improved Management Information Systems.
- Prepare Standard Accounts and Systems Manual
Goods and Services Tax (GST)
Goods and services tax (GST) ensures that rather than collecting taxation at all rates in the nature of VAT, excise duty, income tax, customs duty, luxury tax and utility tax, you pay a specific tax at the end of the supply chain
GST Registration
In order to supply goods and products in India, it is mandatory have your GST registration done.
Registration ensures safe taxation and also lets you enjoy various benefits. Multiple input taxes paid at every stage build up and cause cumbersome interaction with tax authorities. It would be done by applying interest at each point by charging the final tax by the buyer to the last supplier by where the goods is being bought or the services have been provided.
Registration requires a basic step-wise process
- First, figure out if GST registration should be subject to mandatory or optional registration for your particular situation.
- Review the documentation needed to register with GST
- Test the documentation by a specialist to prevent denial
- Uploading the documents to the GSTN website along with the GSTN application form
Our Services for GST
- GST Registration
- GST Procedure
- GST Payment
- GST Returns
- GST Compliances