How to Prepare Financial Statements for Year-End Closing
Preparing financial statements for year-end closing is not just an accounting task—it’s a financial health check for your business.
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Market analysis involves examining characteristics dynamics, and trends of a specific market. It helps determine the viability of a product
Customer support teams also interact customers but they are part of the larger customer service department to answer product-related
Mandatory annual filing for individuals, professionals, firms, and companies with taxable income in India.
Different ITR forms apply based on income type and taxpayer category (ITR-1 to ITR-7).
Covers all income sources, including salary, business/profession, capital gains, house property, and other sources.
Helps in claiming tax refunds, deductions (under sections like 80C, 80D, etc.), and carry-forward of losses.
Required even if income is below the taxable limit but TDS has been deducted or to claim refunds.
Filing before the due date avoids penalties, interest, and legal complications.
Accurate filing ensures smooth processing and lowers the risk of scrutiny or notices.
Necessary for visa applications, loan processing, tender submissions, and financial credibility.
Businesses and professionals may also be required to get a tax audit before filing.
Can be filed online using the Income Tax portal or through authorized tax consultants.
Late filing attracts penalties under Section 234F, and interest under Sections 234A/B/C.
Ensures compliance with the Income Tax Act and builds a strong financial record.
With skilled professionals backing us, we ensure you get accurate, honest, intuitive tax and financial results you can trust us.
Our in-house, tailored method ensures seamless support at each phase of your financial lifecycle with tax planning, compliance, and advisory.
We are always transparent, responsive, and relationship-oriented, bringing solutions that generate genuine results.
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Contact usIndividuals with income above ?2.5L (basic exemption), businesses, professionals, companies, NRIs, and entities claiming tax refunds.
PAN, Aadhaar, Form 16, bank statements, investment proofs, TDS certificates, rent receipts, and financials (for businesses).
Enables loan/visa applications, avoids penalty notices, and allows carry forward of losses.
Yes, revised returns can be filed before the end of the relevant assessment year.
Late filing fees under Section 234F, interest on tax dues, and disqualification from loss carry forward.
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Preparing financial statements for year-end closing is not just an accounting task—it’s a financial health check for your business.
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