₹5.7 lakh still to come in
TaxSavvy for virtual cfo
A finance team for the price of a tool.
Books, monthly P&L, filings and a monthly call that ends in decisions.
What you send
Any one of these gets us started. Photos are fine.
- Bank statement
- Invoices
- Last year's accounts
- GST returns
- AIS or 26AS
Send them on WhatsApp or upload after you start. Documents are encrypted and seen only by your CA.
How we get it done
Four steps, the same for every job. You see each one ticked.
Information
PAN and GSTIN. Business bank statements
Discussion
What decisions do you need numbers for?. Volume of transactions a month?
Forms
Business Map + Money Map. Books takeover and opening balances
Deliverables
Onboarding report: leaks found, catch-up list, calendar. First MIS
See what you get, free
Real formats, made with dummy data.
Sample Sample ₹30,700 leaking every month
Sample Cash in drawer should be ₹21,800 tonight
Questions, answered the CA way
Facts, Provisions and law, Analysis, Conclusion.
Crypto-to-goods payment: paying for services in crypto
- Facts
- Paying for goods or services using crypto creates two tax events simultaneously:
- Provisions and law
- IT Act, Sec 194 (old 115BBH) | GST, Sec 7 (supply) | CBDT Circular
- Analysis
- For the payer: Using crypto to pay = disposing of crypto = VDA gain taxable at 30% on FMV at the time of payment minus cost. (Exactly like selling crypto for INR and then paying INR.) For the receiver: Receiving crypto in exchange for services = receiving consideration in non-INR form. The INR equivalent is taxable as business income at slab rate. GST is applicable on the service at the INR equivalent of the crypto received. Practical issue: Most freelancers/vendors who accept crypto don't realise they have a 1% TDS obligation if the payer is a specified person (Sec 393, Income-tax Act 2025, old Sec 194S).
LUT filing: how to export services with 0% GST
- Facts
- When you provide services to a foreign client and receive payment in foreign currency, it's an export of service. Zero GST applies, but only if you've filed a Letter of Undertaking (LUT) with the GST department.
- Provisions and law
- CGST Act, Sec 16(3)(a) | Rule 96A | LUT Form RFD-11
- Analysis
- Without LUT: You collect 18% GST on the invoice, deposit it, then claim a refund. Refunds take 30-90 days. Cash flow nightmare. With LUT: Issue invoice at 0% GST. Receive USD from client. Convert to INR. No GST to deposit, no refund to claim. Clean. Filing LUT: Annual. File on GST portal → Services → User Services → Furnish LUT. No fee. No stamp. Takes 5 minutes. Valid for the entire financial year. Conditions for export of service: Place of supply = outside India. Payment received in convertible foreign exchange. Customer is outside India.
- Conclusion
- Login to GST portal → Services → User Services → Furnish LUT
- Select FY for which LUT is being filed
- Fill in details, submit with DSC or EVC
- Download the LUT acknowledgement, keep for 7 years
TDS on Professional Fees: Section 393 (old 194J)
- Facts
- If you pay fees to a doctor, lawyer, CA, consultant, IT developer, or any professional above ₹30,000 in a year, you must deduct 10% TDS before paying them. Most small businesses and startups pay freelancers without TDS. The professional loses nothing (gets TDS credit). But the payer becomes an assessee in default with interest and penalty equal to TDS.
- Provisions and law
- Sec 393 (old 194J(1)); Professional services defined; Threshold; Exemptions; Sec 398 (old 201)
- Analysis
- Sec 393, Income-tax Act 2025 (old Sec 194J) rate clarification, 2% vs 10%: From April 1, 2020: professional services (doctor, lawyer, CA, architect, technical consultant) = 10%. Technical services (IT maintenance, call centre, software support, data analytics) = 2%. This split matters: a company paying an IT developer for software maintenance (technical services) deducts 2%, not 10%. But same company paying IT consultant for strategic advice (professional services) = 10%. The distinction is blurred in practice, when in doubt, use 10%. When Sec 393 (old Sec 194J) applies to startups and small companies: A Pvt Ltd company (even with ₹50L revenue) must deduct TDS under Sec 393 (old Sec 194J) if they pay professional fees. The audit threshold exemption is for individuals/HUF only. Any company = must deduct Sec 393 (old Sec 194J). Many startups miss this, they pay CA, lawyers, freelance developers and don't deduct TDS. Common audit exposure.
- Conclusion
- Identify: does your entity (company/audit-applicable proprietor) pay any professional fees?
- Check if cumulative professional fees to any one person cross ₹30,000 in the year
- Determine rate: 10% (professional services, lawyer, doctor, CA, architect) or 2% (technical services, IT maintenance, call centre)
- Collect recipient's PAN before payment, without PAN: deduct at 20%
Sec 270A (now 439) penalty: how to contest under-reporting vs misreporting
- Facts
- Sec 270A (now Sec 439, Income-tax Act 2025) replaced 271(1)(c) from AY 2017-18 onwards. Two levels:
- Provisions and law
- IT Act 1961, Sec 270A, 270AA (now 439, 440) | Finance Act 2016
- Analysis
- Under-reporting (50% penalty): Income assessed > income returned. Penalty = 50% of tax on the difference. This applies even if the addition was genuine, a ₹5L omission causes ₹7,500+ penalty at 30% slab × 50%. Misreporting (200% penalty): Specific categories, false claim, suppression of evidence, entry in books without corresponding income. Much harder for AO to prove. Most AOs try to frame under-reporting as misreporting, contest this vigorously. Sec 270AA (now Sec 440) immunity: If you pay the assessed tax and interest within 30 days of assessment order, you can apply for immunity from penalty under Sec 270A (now Sec 439). Immunity is granted if: no appeal is pending, you've paid in full, and the addition was not based on misreporting.
A finance team for the price of a tool.
A Chartered Accountant handles it. Fixed price, told before you pay.
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