Overview
The Tax & Accounting Services Division
of Datamatics Technologies Limited (DTL)
is the India's leading provider of outsourcing
services in the finance and accounting arena
to various industries across different geographical
locations. We offer end-to-end services
to an Accounting Firm irrespective of the
Geography or location with consistent quality
and ensuring guaranteed turnaround time.
By offering our suite of services, we have
become the only pure play outsourcing service
provider from India to offer complete Back
Office solution to the Accounting Firms
across the Globe.
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Tax Return
Processing services
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US Tax Returns |
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Canada Tax Returns |
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Write Up services |
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Pension Administration
Services for TPAs |
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| Tax Return
Processing Services |
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Datamatics has been one of the pioneers
in outsourcing of US and Canada tax returns
out of India and has been the first to
prepare over 10,000 tax returns in a single
year. Over the two tax seasons, we have
a robust & customer certified reliable
workflow such that we processed over 30,000
tax returns for the 2004 Tax Season for
over 150 clients. Datamatics integrates
Technology, Future-proof Infrastructure
& Processes with sound Domain Knowledge
offering a complete Tax Preparation Solution
to our customers.
The tax compliance expertise has been
developed by Datamatics over a period
of time through in-house training imparted
by professional trainers on US and Canada
Tax laws, regulations as well as the softwares
that are used for the return preparation.
Datamatics has a dedicated team of professionally
trained accountants which works on a 24
x 7 model during the peak season. It also
puts a high emphasis on continuous training
for its well-trained pool of cost effective
resources so that the turnaround time
is reduced to 3 days. Datamatics has large
scalable facility and workforce.
Datamatics provides complete back office
services to the Accounting Firms and serves
as their virtual extension. During the
course of time Datamatics has developed
strong partnerships and created dedicated
teams to provide customized solutions.
Datamatics emphasis on quality and speedy
turnaround has facilitated Accounting
Firms to concentrate on diversified areas
and in turn to increase their clientele.
Datamatics
Advantage:
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Instigation
of the product |
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Reliable workflow |
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Processed close to
30,000 returns in 2004. |
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Integrates Technology |
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Future-proof Infrastructure
& Processes |
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Speedy turnaround |
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Scalable model |
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Well-trained pool
of cost effective resources |
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US Tax Returns |
Datamatics has been
one of the pioneers in outsourcing
of US tax returns to India and has
been the leader in services from last
4 years. Over the three tax seasons,
Datamatics has established a mature
processes and processed returns for
over 150 clients.
Taxation
Services offered includes:
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Preparation of Individual Income
Tax Returns (1040) |
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Preparation
of Income Tax Returns of Fiduciaries
(1041) |
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Preparation
of Non-Resident Income Tax Returns
(1040NR) |
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Preparation
of Income Tax Returns of Exempt
Organizations (990) |
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Preparation
of Income Tax Returns of Partnerships
(1065) |
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Preparation
of Income Tax Returns of C Corporations
(1120) |
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Preparation
of Income Tax Returns of S Corporations
(1120S) |
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Preparation
of Estate & Gift Tax Returns
(706) |
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Sales &
Use Tax Returns for states |
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Canada Tax Returns |
How the spark of imagination
ignites the biggest opportunities.
Our services, our people, and our
passion can fuel that kind of business
growth - to take our customers’
business further, faster. PIONEERING
is the key word for our vertical growth
and success in rendering outsourcing
services to Canada. Read on to understand
our capabilities………
In India, we are the first and the
only company in India to have served
the Canadian accounting firms in the
taxation and accounting arena for
three successful years. We pioneered
in rendering tax and accounting services
in association with top accounting
firms. Datamatics today serves as
the extended office and help in processing
individual and corporate tax returns
and provide corporate accounting and
write-up services.
Services
offered
We offer an array of outsourcing solutions
for Canadian Tax Return processing
in the areas of...
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Personal taxation |
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Corporate taxation |
Personal
Taxation
Processing of personal tax returns
commenced in January 2002. Knowledge
about personal taxation was self-acquired,
with hands-on experience on practice
cases, with the aid of a conceptual
book, and the help feature in the
software.
Thereafter, we have successfully completed
three tax seasons of processing personal
tax returns and grown at an astonishing
rate of more than 400%. In the past
three years, we have moved up the
learning curve at a very fast pace
considering the fact that from the
third year onwards, we have also started
offering tax optimization services,
like transferring unused tuition credit,
verifying medical, RRSP, child care
benefits, donations, etc. are claimed
in a manner that is most beneficial
to the taxpayer and spouse, etc.
We are currently looking at mastering
the tax knowledge to an extent where
we can handle some tax planning issues
like working out an optimal mix of
business taxes and personal taxes
for owner – managers, etc.
What we
do?
Specific activities:
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Review supporting documents
received |
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Sort the documents
between taxpayer, spouse and
children |
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Bookmark the
documents in the order of the
T1 for each person |
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Advise CA on
missing / incomplete documents |
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Seek clarification
on doubts / inconsistency in
returns |
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Complete returns
using Personal Taxprep /Profile |
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Review returns
files for data entry accuracy |
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Use the Tax
Prep Express efficiently for
exporting / importing data |
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Verify that
returns are clear of the diagnostic
warnings |
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Verify that
the returns are ready to be
e-filed |
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Offer tax optimization
services |
Ancillary
activities:
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Update our knowledge with the
latest budget and technical
amendments |
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Prepare and
continuously update our in-house
prepared manuals |
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Design a complete
training and certification module
for the new recruits. |
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Obtain the latest
version of the applicable software. |
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Processing
of Non-Resident Income Tax Returns
- We processed approx.
100 non-resident returns, with
information received with respect
to the investor splits, etc.
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Corporate
Taxation
A team of two members visited the
client office in Toronto to acquire
conceptual and system knowledge
in relation to preparation corporate
tax returns in the later half of
2002 and thereafter there has been
no looking back. Thereafter, on-line
training programs are conducted
by the client for constant up-gradation
of knowledge.
In the span of two years, the team
has processed large number of returns
and has developed the proficiency
to process Federal
and Ontario returns.
The task of processing of
Corporate Income Tax Returns involves
the following activities.
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Review prior year’s return
and roll it forward to the current
year |
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Import/input
financial data from the financial
statements into the current
year’s return |
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Prepare the
current year’s federal
return and the various schedules
by referring to the prior year’s
return, current year’s
financial statements & tax
implications. |
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Prepare the
provincial return by completing
the CT23 and other schedules |
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Entering the installments made
in the year |
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Verifying the
diagnostics. |
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Reviewing the
prior year’s Notice of
Assessments |
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Noting any missing
information from the prior year’s
return |
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Pointing out
any observations for the current
year |
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| Edge
Over Competitors |
A
well-trained human resource pool
Datamatics have a large resource pool
of qualified and highly trained professionals.
Team compromises of 18% of CPA’s
and 65% of qualified Chartered Accountants
equivalent to CPA’s in US.
Software
and R&D division to cater software
development needs
Datamatics is only the 3rd company
in the world to have SCI CMM Level
5 certified IT department. Datamatics
have a software and R&D division
to cater to all the software requirements
for a project. The in-house R&D
continuously strives for automating
the processes involved to reduce human
intervention and in turn to enhance
the quality of output.
Robust
interface for customer interaction
– “O-Zone” The Case
Tracking Tool
O-Zone is the new, enhanced version
of Web Tracker, the return-tracking
module designed for Accounting firms.
With O-Zone, your firm becomes part
of the case workflow. O-Zone allows
your firm to:
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Stay in control on all stages
of your work. |
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Track the status
of your returns. |
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Respond to queries
or questions presented by Datamatics.
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Accept or reject
a return that Datamatics has
marked as completed. |
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Complete security
& confidentiality maintained
for your returns. |
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Secure SSL mode
operation. |
O-Zone Highlights
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"My Work Area" which
displays the most frequently
used reports. |
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Ascending and
descending sort order on any
field within a report |
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Multi-page reports
and the ability to go to a particular
page in a report. |
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Ability to send
clarifications in stages (Hold
and Proceed function) |
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Online Help
to explain O-Zone features and
functions |
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A Toll Free
Help Desk |
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| Quality |
We believe
Quality is a journey, not a destination!!!
“Datamatics will continuously strive
to delight customers with efficient technological
solutions; through evolving and maturing
processes and the total involvement of its
professionals, partners and customers.”
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| Training |
Training
Overview
Datamatics provides extensive training
to all the employees of the Tax &
Accounting Services division in its
in-house training facilities. Datamatics
has multiple state-of-the-art training
rooms equipped with computers loaded
with latest software and with capacities
to train more than 100 people simultaneously.
The training method is broadly classified
into: -
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Extensive training and certification |
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Professional
in-house trainers |
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Peer review
and evaluation |
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On-site training
for Client specific Procedures
and policies |
Training
areas
The training for all candidates selected
for the tax preparation function has
been divided into: -
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Conceptual training |
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Software training |
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Practice cases
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Certification
by independent organization
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Refresher course
for existing employees |
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