After the completion of the Chartered Accountant course, the aspirants can become either employed in a firm as an employee or can start their own private practice. If you want to start up your own business, then firstly you need to learn about the important terms and conditions of Business.
Before getting started, the first things that you should keep in mind are Hard work and Patience. These are two important factors of business that will bring you to a new height of success. There are various business opportunities in the country that a Chartered Accountant can start without investing huge money.
The Chartered Accountant plays an important role in the various departments of the organizations such as auditing, assurance, tax consultancy, accounting services, accountants, finance outsourcing and financial reporting. Here, we describe the best business start-up strategies:
- You can take a franchise of Taxation Software Company
- Tax Consultancy Services
- Audit Expertise Services
- Outsourcing Services
- Open an Academic for Chartered Accountancy Course
- Goods and Services Tax Practitioner
- Income Tax Return Preparer
- International Taxation Service Provider
1. You Can Take a Franchise of Taxation Software Company
You can become a dealer by taking a franchise of Taxation Software. You can earn money by selling the taxation software on your behalf as you can create your own sources of income with unlimited potential. Thus, taking a franchise of Taxation Software is easier and less expensive. With each passing day, the number of taxation software is increasing day by day in the country as several organizations are using taxation software for online e-filing.
2. Tax Consultancy Services
Every business today needs an adviser to guide them to track their income and expenses. If you are an expert in tax law, planning and compliance then you can start your own business of taxation services, through which, you can maximize your value by providing Tax Advice to a person or organization. Starting Tax consulting will enable you to meet the global requirements of the clients, which gives you the flexibility and security you deserve. The Tax Adviser can also offer more valuable services to their clients. Tax Consultant, it is a small business that you can easily start.
Related: Want to know the History of Chartered Accountants in India
3. Audit Expertise Services
If you are an expert in accounting and auditing matters, then Auditing Expertise would be a good option to start it in your own way. Thus, the audit services allow you to make well-informed business decisions, to better assess the opportunities and risks your business might face, and to boost your company’s credibility with lenders, investors and clients.
4. Outsourcing Services
A chartered accountant can also start up a business of outsourcing and recruit those students who have completed their article-ship and waiting for their final exams. With this, you can manage various conditions of accounting, taxation, legal, compliance, research, financial data management, documentation, ERP implementation, etc.
5. Open an Academic for Chartered Accountancy Course
The academic is a good option to make your business sprout. With each passing day, the Institute of CA and CPT courses are increasing rapidly in the country. The top-notch faculties and positive outcomes will help the institute to grow in a better manner.
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6. Goods and Services Tax Practitioner
GST Practitioner is a perfect opportunity for budding and practising CAs to start an entrepreneurial journey. A GST Practitioner will be entitled to file ITR returns on behalf of small businesses and taxpayers who cannot afford the escalating cost of accounting as well as are not well-versed with computers and technology. There is a large pool of potential customers to develop s dedicated client base. However, one needs to clear the GST Practitioner Exam. Section 48 of the GST Law certifies qualified participants in the exam as GST Practitioners as per Section 2(55) of the CGST Act.
7. Income Tax Return Preparer
The expertise of Chartered Accountants (CA) is extremely useful for individuals and businesses who need tax support. Tax planners can make sure people pay the right amount of tax while following the law by providing personalized tax planning. Guiding on complex tax problems can help businesses save money on taxes and file their taxes correctly. The role of Chartered Accountants is mainly to build strong relationships with clients and to become trusted advisors in tax matters.
8. International Taxation Service Provider
In today’s world, there are more and more cross-border transactions, which makes international taxation expertise more in demand. CAs will need to help clients and organizations calculate foreign tax credits, handle legal matters for opening liaison offices with international organizations, as well as handle foreign remittances in the future.
Is CA in practice also require to give GST Practitioner Exam.
Yes
No sir, GST Practitioner is like an Income tax practitioner. becoming a practitioner is a matter of optional
According to me, I would go with the Academic Service or Audit Expertise Services, as these are best services.
I am about to be a CHARTERED ACCOUNTANT and my dad is having a big business. so can indulge myself in the business and take on the wheel while still having the practising certificate?
Chartered Accountant in practice is not permitted to engage himself in any business or occupation other than the profession of Chartered Accountants. However, he may do so with the permitted granted in accordance with a Resolution of the ICAI Council.
can we open our own businesss????
Great Work KRISHNA SHEKHAWAT Nice Information.
this creates more awareness,those who were in need of this………..availing more information gets a student to choose the best for their future.
I constantly spent my half an hour to read this blog’s articles every
day along with a cup of coffee.