Consulting & Professional Services Accounting & Tax in India

Our accounting services are crafted for knowledge-based businesses operating in the dynamic Indian market:

• Independent Consultants & Freelancers: Solo professionals, often operating as proprietorships or LLPs, who need to manage their finances, optimize tax planning under presumptive schemes, and ensure GST/TDS compliance.
• Boutique Consulting Firms: Small firms that require tracking of project profitability, management of multi-currency billing for foreign clients, and compliant payroll for a small team.
• IT & Tech Consultants: Tech experts providing software development or tech advisory services, who must correctly apply GST on digital services and manage contractor payments.
• Marketing & PR Professionals: Individuals and small teams managing client retainers and project-based work, requiring clear financial reporting to demonstrate value and manage pass-through costs.
• Foreign Consultants with an Indian entity: International experts using an Indian company to serve the local market, who need help navigating FEMA regulations and cross-border tax issues.

From your first client contract, professional accounting is beneficial. It becomes absolutely critical at these key moments:

• When You Cross the GST Threshold: Once your turnover exceeds ₹20 lakhs (for services), GST registration is mandatory. This requires issuing compliant invoices and filing monthly returns.
• When You Receive Payments Subject to TDS: Many corporate clients will deduct TDS from your payments. You must track these deductions to claim credit when filing your income tax return.
• When You Hire Staff or Contractors: This triggers payroll obligations (PF, ESI) for employees and TDS compliance for contractor payments.
• When You Invoice International Clients: Correctly determining the 'place of supply' for services to foreign clients is crucial for GST compliance (exports are typically zero-rated but must be reported).
• At Year-End: For preparing financial statements and filing your annual income tax return, ensuring all deductions are claimed and tax liabilities are correctly calculated.

Investing in outsourced accounting for a consultant is a high-ROI decision, freeing up billable hours and ensuring tax compliance.

• Solo Consultant / Freelancer: ₹15,000 - ₹30,000 per month. This typically covers comprehensive bookkeeping, GST and TDS compliance, and income tax planning.
• Small Firm (2-10 people): ₹30,000 - ₹80,000 per month. This service level adds payroll for the team and more detailed management reporting on project profitability.
• Growing Firms (10+ people): Custom pricing starting at ₹80,000+, which can include more advanced forecasting and virtual CFO services.

Service-based businesses in India face unique compliance risks that can lead to significant financial penalties:

• GST Mismatches: The GST system relies on matching invoices between suppliers and customers (GSTR-2A/2B reconciliation). Errors can lead to loss of input tax credit and notices from the tax department.
• TDS Non-Compliance: Failure to deduct TDS where required, or late filing of TDS returns, attracts interest and penalties.
• Missed Deductions: Failing to properly document and claim all legitimate business expenses leads to a higher income tax liability.
• Commingling of Funds: Mixing business and personal expenses can create major issues during a tax audit and complicates the calculation of business profit.

As a consultant, your time is your most valuable asset. Every hour spent wrestling with GST portals or TDS rules is an hour you cannot bill. Outsourcing your accounting to YourLegal frees up this valuable time while providing access to a team of experts in Indian tax law.

We go beyond basic bookkeeping. We help you structure your contracts and invoicing for optimal GST and TDS compliance. We manage all your monthly and quarterly filings, ensuring you are always compliant with the authorities. By taking the financial administration off your plate, we let you focus on what you do best: delivering exceptional service to your clients.