Terms of Use – Finance Desk

The Finance Desk provides professional assistance for:

1. Bookkeeping
2. Accounting
3. GST Return Filing
4. Income Tax Return Filing
5. TDS Compliance
6. ROC Annual Compliance
7. Payroll Processing
8. EPF & ESI Compliance
9. Financial Statements
10. MIS Reports
11. Cash Flow Management
12. Accounts Receivable Management
13. Accounts Payable Management
14. Expense Management
15. Audit Support
16. Virtual CFO Advisory

The scope of services includes professional consultation, accounting support, statutory filing, financial reporting, and coordination with the relevant authorities and professionals.

Membership covers only the professional services specifically included under the applicable membership plan.

The following are not included and shall be payable separately by the member:

1. GST Liability
2. Income Tax Liability
3. TDS Payments
4. EPF Contributions
5. ESI Contributions
6. Professional Tax
7. Interest on delayed payments
8. Government penalties
9. Late filing fees
10. Audit Certification Fees
11. Independent Chartered Accountant Fees
12. Government challans
13. Bank charges
14. Third-party software subscriptions
15. Any statutory payment payable to Government authorities

Finance Desk services apply only to transactions occurring after the commencement of the membership.

Historical bookkeeping, pending compliances, old GST returns, previous financial years, tax notices, reconciliations, litigation support, assessments, and legacy accounting are outside the scope of membership and shall be treated as separate professional assignments.

Routine accounting services are intended for normal business operations.

Businesses having unusually high transaction volumes, including but not limited to:

1. E-commerce businesses
2. Marketplace sellers
3. Retail chains
4. High-volume distributors
5. Multi-location businesses

may require a customized engagement plan.

i-VANTAGE reserves the right to recommend a higher service plan or separate quotation where transaction volumes exceed standard operational limits.

Members must submit complete accounting records within the prescribed timelines.

This includes:

1. Sales invoices
2. Purchase invoices
3. Bank statements
4. Expense bills
5. Credit card statements
6. Payroll information
7. Investment details
8. Other supporting documents

Late submission of documents may result in delayed filings.

i-VANTAGE shall not be responsible for penalties, interest, or late fees arising due to delayed or incomplete document submission by the member.

The member is responsible for ensuring that all accounting records, invoices, bills, vouchers, and financial information submitted are accurate and complete.

i-VANTAGE shall not be liable for errors arising from incorrect, incomplete, manipulated, or fraudulent information provided by the member.

GST filing services include preparation and submission of GST returns based on the information and documents provided by the member.

Approval of Input Tax Credit (ITC), GST refunds, departmental notices, or assessments depends entirely upon Government regulations and vendor compliance.

i-VANTAGE does not guarantee GST refunds, ITC eligibility, or acceptance of returns without departmental queries.

Income Tax Return filing is based on the financial information and records made available by the member.

Tax refunds, tax savings, assessments, notices, and scrutiny proceedings remain subject to the Income Tax Act and the discretion of the Income Tax Department.

i-VANTAGE does not guarantee tax refunds, reduction of tax liability, or exemption eligibility.

Payroll services include salary computation, statutory deductions, payslip generation, and payroll reporting.

Membership does not include:

1. Salary disbursement
2. Bank transfer execution
3. Employee payment approvals
4. OTP management
5. Cash handling
6. Daily reimbursement processing
7. Expense approvals

These services may be offered separately under customized engagements.

Audit Support refers to coordination, documentation assistance, financial statement preparation, and audit facilitation.

Membership does not include:

1. Statutory Audit Fees
2. Tax Audit Fees
3. Independent Chartered Accountant Certification
4. Government certification charges
5. Special audits
6. Investigation audits

These shall be charged separately wherever applicable.

Virtual CFO services are strategic advisory services and may include:

1. Financial planning
2. Budgeting
3. Business performance review
4. MIS analysis
5. Cash flow planning
6. Financial strategy
7. Business advisory

Virtual CFO services do not include:

1. Daily bookkeeping
2. Bank operations
3. Vendor payment approvals
4. Cash collection
5. Loan negotiations
6. Investor fundraising
7. Statutory compliance execution
8. Operational finance management

Unless specifically agreed under a separate engagement.

Any notice, assessment, scrutiny, investigation, or demand issued for periods prior to commencement of membership shall be treated as a separate assignment.

Representation before Government authorities, drafting replies, appeals, and litigation support are not included in the membership.

Professional services commence after:

1. Receipt of complete documentation
2. Verification of records
3. Payment of applicable charges
4. Completion of onboarding requirements

Government processing timelines are beyond the control of i-VANTAGE.

The member agrees to:

1. Submit complete financial records on time.
2. Maintain proper books and supporting documents.
3. Reconcile bank accounts regularly.
4. Respond promptly to clarification requests.
5. Pay all statutory liabilities before due dates.
6. Inform i-VANTAGE of any significant financial changes affecting compliance.

Membership includes only the services specifically covered under the applicable membership plan.

The following may attract additional professional fees:

1. Historical bookkeeping
2. Reconstruction of accounts
3. High-volume accounting
4. Departmental notices
5. Assessments
6. Appeals
7. Litigation support
8. Financial due diligence
9. Special reports
10. Complex reconciliations
11. Additional revisions
12. Customized MIS requirements

Certain services may be performed through empanelled Chartered Accountants, Company Secretaries, Payroll Consultants, Software Partners, and other professional service providers.

i-VANTAGE acts as a coordinator and facilitator for such services.

i-VANTAGE provides professional accounting and compliance assistance only.

No guarantee is provided regarding:

1. Tax refunds
2. Tax savings
3. Input Tax Credit availability
4. Government approvals
5. Audit outcomes
6. Loan approvals
7. Financial performance
8. Profitability
9. Investment funding
10. Government assessments

All financial outcomes depend upon applicable laws, financial records, Government authorities, and business performance.

i-VANTAGE reserves the right to modify, update, suspend, or discontinue any Finance Desk service, operational process, partner engagement, or membership benefit without prior notice, subject to applicable law.

By availing any Finance Desk service, the member confirms that they have read, understood, and agreed to these Terms of Use. The member further acknowledges that i-VANTAGE provides professional financial support and coordination only, while Government approvals, statutory liabilities, tax payments, audit certifications, and regulatory decisions remain the responsibility of the respective authorities and the member, as applicable.