Practice Areas

Broadly, Audit involves the following :

• 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.

• Incorporation of company
• 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.

• 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)

• 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.

• Accounting System Design & Implementation
• Financial Accounting
• Budgeting
• Financial Reporting
• MIS Reports
• Financial Analysis
• Asset Accounting Management
• Depreciation and Amortization Schedules

• Preparation of Monthly Salary Sheet.
• Deductions as per applicable laws like Income Tax, Provident Fund, and Professional Tax etc.
• Computation and deposit of TDS, ESI, PF etc.
• Disbursement/ Online Payment of Salary.
• Pay slip by password protected e-mail.
• Preparation of Monthly Salary Sheet.
• Deductions as per applicable laws like Income Tax, Provident Fund, and Professional Tax etc.
• Computation and deposit of TDS, ESI, PF etc.
• Disbursement/ Online Payment of Salary.
• Pay slip by password protected e-mail.

• 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.

• Consultancy on various intricate matters pertaining to Income tax.
• Effective Tax Management 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.

• GST Migrations and Registrations
• Filing of GST Returns (Regular Dealer, Composition Dealer, ISD, Non-Resident, E-Commerce, etc)
• GST Consultancy/Advisory on various issues of GST
• Impact Analysis on Business Segments
• GST Audits as per GST Act, 2017
• GST Implementation
• Compilation of Data of Input Tax Credit
• GST Assessments
• Transition from Pre-GST to GST Regime
• Maintenance of Records for Compliance
• Strategic Business Planning under GST Regime
• Supplier/Buyer Management
• GSTN Number Verification Services
• HSN Code Finder

Corporate governance refers to a combination of laws, regulations, procedures, implicit rules and voluntary practices which help companies to perform efficiently and maximize long term value for shareholders and at the same time looking after the interests of other stakeholders like buyers, government, society at large etc. Lenders whether national or international, also look for them for taking exposure in any corporate. It is a function of transparency and fairness in operations and making proper disclosures.

Company as a business organization has become popular over the years. With the growth in size of these corporates, governance has become all the more important. SEBI and listing agreements of various stock exchanges require that the requirements of corporate governance are duly complied with.

Our services include:

• Periodic monitoring through internal audit
• Independent audit
• Independent verification
• Effective Supervision
• Accountability
• 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.

• 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.

IGAAP stands for "Improved Generalized Abbreviated Accounting Principles." It's a simplified accounting framework designed for small and medium-sized entities (SMEs) to prepare financial statements.

IGAAP aims to:

• Simplify accounting standards
• Reduce reporting complexity
• Improve financial statement readability
• Enhance comparability

IGAAP is not widely adopted or recognized by major accounting standard-setting bodies. However, it's sometimes used by smaller entities or non-profit organizations.

Would you like more information on IGAAP or accounting standards in general?

IFRS (International Financial Reporting Standards) is a set of accounting standards developed by the International Accounting Standards Board (IASB) to provide a common language for financial reporting.

Key objectives of IFRS:

• Global comparability
• Transparency
• Accountability
• Consistency

IFRS covers various aspects, including:

• Revenue recognition
• Inventory valuation
• Property, Plant, and Equipment (PPE)
• Leases
• Financial instruments
• Income taxes
• Employee benefits

Benefits of IFRS adoption:

• Enhanced comparability across countries and industries
• Improved decision-making
• Increased transparency
• Simplified financial reporting
• Better alignment with global capital markets

Over 140 countries require or permit IFRS for publicly traded companies, including:

• European Union
• Australia
• Canada
• India (Ind AS)
• Japan (modified IFRS)
• South Africa
• United Kingdom

Would you like more information on IFRS, its applications, or specific standards?