Services For Vat:
Getting Sales Tax Registration under Central Sales Tax Act and Delhi VAT.
- Consultancy on matters related to Sales Tax including Tax planning.
- Preparation of VAT (Value Added Tax) returns.
- Filing of Electronic/Manual VAT returns
- Help in obtaining statutory forms.
- Liaison with VAT authorities, Getting Sales Tax Assessments done.
- Filing and pleading appeals wherever necessary.
- Consultancy on matters related to Delhi Works Contract Tax Act 1999.
Services for Service Tax:
- Registration under Service tax.
- Consultancy for maintenance of proper records.
- Consultancy for proper accounting for Service tax.
- Consultancy on various issues relating to Service Tax.
- Compilation of data of Cenvat credit.
- Assistance in availment of notified Abatements.
- Utilization and availment of service tax credit in accordance with the Service Tax Credit Rules, 2002.
- Computation of Service tax payable.
- Preparation and filing Returns.
- Getting assessments done
Broadly, Audit involves the following:
Types of Audits conducted:
- Indepth study of existing systems, procedures and controls for proper understanding. Suggestions for improvement and strengthening.
- Ensuring compliance with policies, procedures and statutes.
- Comprehensive review to ensure that the accounts are prepared in accordance with Generally Accepted Accounting Policies and applicable Accounting Standards/IFRS.
- Checking the genuineness of the expenses booked in accounts.
- Reporting inefficiencies at any operational level.
- Detection and prevention of leakages of income and suggesting corrective measures to prevent recurrence.
- Certification of the books of account being in agreement with the Balance Sheet and Profit and Loss Account.
- Issue of Audit Reports under various laws.
- Statutory Audit of Companies
- Tax Audit under Section 44AB of the Income Tax Act, 1961.
- Audit under other sections of the Income Tax Act, 1961 such as 80HHC, 80-IA, etc.
- Concurrent Audits.
- Revenue Audit of Banks.
- Branch Audits of Banks.
- Audit of PF Trusts, Charitable Trusts, Schools, etc.
- Audit of Co-operative Socities.
- Information System Audit
- Internal Audits.
- Consultancy on Company Law matters.
- Planning for Mergers, Acquisitions, De-mergers, and Corporate re-organizations.
- Filing of annual returns and various forms, documents.
- Clause 49 review for compliance with fiscal, corporate and tax laws
- Secretarial Matters including share transfers
- Maintenance of Statutory records
- Consultancy on Public/Rights/Bonus Issue of shares.
- Change of Name, Objects, Registered Office, etc.
- Accounting System Design & Implementation
- Financial Accounting
- Financial Reporting
- MIS Reports
- Financial Analysis
- Asset Accounting Management
- Depreciation and Amortization Schedules
- Preparations of Project Reports
- Preparation of CMA data for bank loans
- Private placement of shares, Inter-Corporate Deposit, Terms loans, working capital limits, etc
- External Credit Borrowings (ECBs)
Services For Non Residents:
- Allotment of Permanent Account number (PAN)
- Tax planning.
- Obtaining Advance Rulings on debatable issues.
- Consultancy/ advice on FEMA/RBI matters.
- Filing Income Tax/ Wealth Tax Returns
- Advice on making investments
- Issuing certificate for repatriation of income / assets from India.
- Making application to RBI for various matters including sale and purchase of residential and commercial properties.
- Preparation of Monthly Salary Sheet.
- Deductions as per applicable laws like Income Tax, Provident Fund, Professional Tax etc.
- Computation and deposit of TDS, ESI, PF etc.
- Disbursement/ Online Payment of Salary.
- Pay slip by password protected e-mail.
- Reimbursement of telephone, medical bills etc.
- Issue of Form 16 to employees.
- Periodic Reconciliation of payments/statutory deductions etc. with books of accounts.
- Administration of gratuity, superannuation, pension schemes etc.
Benefit of outsourcing:
- Enables business to concentrate on core business activities.
- Use of manpower for more important functions
- Investment in fixed assets reduced/minimized.
- Substantial Savings in Cost.
- Services of experts made available.
- Improved Internal Controls
- Enhanced reporting capabilities to provide more timely and accurate financial data
- Off-site Backup of Data.
- Advice on all matters related to compliance of TDS/TCS provisions.
- Obtaining Tax Deduction Account Number (TAN).
- Periodic review of TDS/ Withholding Tax compliance.
- Computation of monthly TDS.
- Monthly reconciliation of TDS due and deposited.
- Monthly deposit of TDS electronically/manually.
- Issue of monthly/annual TDS certificates.
- Filing of quarterly E-TDS/Manual Returns.
- Filing of Correction Statements.
- TDS assessment.
- Periodic monitoring through internal audit
- Independent audit
- Independent verification
- Effective Supervision
- Sufficient number of Independent directors on the Board.
- Formation of an independent audit committee for the board
- Adequate disclosure and transparency in reports
- Participation in board meetings.
- Consultancy on various intricate matters pertaining to Income tax.
- Effective tax management, tax structuring and advisory services.
- Tax Planning for Corporates and others.
- Designing / restructuring salary structure to minimise tax burden.
- Obtaining Advance tax Rulings.
- Obtaining No Objection Certificates from Income tax department.
- Obtaining PAN for assessees, employees etc.
- Advance tax estimation and deposit.
- Assessing the liability towards deferred taxes.
- Providing regular updates on amendments, circulars, notifications & judgments.
- Filing Income Tax and Wealth Tax returns for all kinds of assessees.
- Filing Income tax returns for employees of corporate clients.
- Liaison with Income tax department for rectification, assessment, obtaining refunds etc.
- Expertise in complicated direct tax assessments.
- Filing and pleading appeals under various provisions of IT Act.
- Special expertise in search, seizure and prosecution litigation.
- Advice on future tax implications in respect of the potential acquisition.
- Opinions on the various Double Tax Avoidance Agreement related issues.
- Settlement of various issues raised under FEMA.