Hiring the Right Tax Consultant is Crucial to Your Business

Businesses have to comply with several taxes levied by the central as well as the state governments. Dealing with taxation in your business requires services of an expert tax consultant who can help you in filing taxes on time and minimize them to save company’s money every year. Mismanagement of taxes can be chaotic and it could have legal implications for the company, therefore hiring an efficient tax consultant becomes inevitable. The implementation of GST in India has added a new dimension to the taxation for Indian companies and you need to look out for GST consultants in India who can file taxes according to GST regulations.

What you should look for while hiring the tax consultant for your company?

Check if he is qualified enough to handle the taxation matters of your company

If your business establishment is in Gurgaon then before hiring a Gurgoan tax consultant for your company, you must check his qualifications and work experience. He must possess a thorough knowledge of the taxation regime of India and keep himself updated with the changes in taxation laws. Make sure that he has the required degrees and licenses to practice as a tax consultant.

Check his background and take reviews from his existing clients

Look for a certified tax consultant who has management experience with higher accountability. You must verify his credentials by taking reviews about his work from his existing clients who can vouch for his integrity and ethical standards. Check if the tax consultant has a questionable history and if he has ever been subjected to any disciplinary action.

Check if the tax consultant has a team of professionals and his office set up meets your expectations

Before you hire the tax consultant for your company, visit his office and speak to his team of accountants to gauge if they can efficiently handle your company’s taxation. A professional tax consultant takes into account the minute details that can have implications on the tax structure of your company. A good understanding of your business will help him and his team to devise a better tax strategy. The professional office set up of a tax consultant speaks volume about his functioning and credibility.

Check if the tax consultant is affordable and comfortable working with multiple entities

While hiring a tax consultant, take into account his fees which will give you an idea if you can afford his services. Some tax consultants charge by the hour or annually according to the company’s assignments while some outsource their services to other firms. Based on this a fee can be negotiated. As your business grows, you would be expanding the existing setup and starting new ventures. Your tax consultant should be open to taking added taxation responsibilities that could help you save valuable resources.

Tax consultants are indispensable for any company and a good tax consultant can make a big difference to your business by managing the taxation well to avoid any legal problems in the future.

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Written by Rohit Thakur

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