GST Audit
GST Audit is the process of examination of records, returns and other documents maintained by a taxable person. In the GST audit we verify the correctness of the turnover declared, taxes paid, refund claimed and input tax credit availed. We also assess the compliance with the provisions of GST in this process.
Tax Audit
Tax audit is intended to ensure proper maintenance of the books of accounts and other records, in order to reflect the true income of the tax payer and to facilitate the administration of tax laws by a proper presentation of the accounts before the tax authorities. We conduct the tax audit and help clients to show proper income and other information in their income tax returns and thereby help them to avoid penal and criminal consequences.
Company Audit
Company audits are conducted in order to report the state of a company's financial position to the shareholders / regulatory bodies (such as SEBI, C&AG, etc.) and Ministry of Corporate Affairs (MCA).
We conduct company audit as per the requirements of the Companies Act, 2013 and other relevant statutory laws and provide our independent opinion on true and fair view of the financial position of the Company to the shareholders / regulatory bodies.
Internal Audit
We help clients to check their internal control systems and procedures, compliance with company's policies, correctness and orderliness of the accounting transactions, compliance with statutory regulations, etc and to ensure proper conduct of their business through internal audits.
Statutory Audit
Every Indian entity is bound by the Indian legal laws and accountability for their transactions done in India. The Indian legal system under various statues has prescribed mandatory audit of the accounts of the entities operating in India.
With a wide knowledge base on various industries, our firm has been one of the pioneer service provider on the Audit and Assurance services arena. Our firm has a wide clientele base which includes initial start up companies to Public listed companies in the Indian brouses.
Corporate Audits
Following are the few statutory Audit and Assurance functions handled by our firm:
Filing of Returns
Assisting in filing their income tax returns as per Indian Income Tax Act, 1961.
Assessments
The process of examination of return of income is called "Assessment". After filing return of income by the assessee, the return of income shall be processed by the department. During this process, the income-tax department may select the return of income for assessment and a notice would then be issued to the tax payer requiring him to furnish documents or information in support of the return filed. We assist clients in responding and furnishing the relevant details to the tax department.
Income Tax Appeals and Settlement of Tax disputes
Appeals before CIT(A)/DRP
In case a tax payer is aggrieved with an appealable assessment order, an appeal to the Commissioner of Income Tax (Appeals)/DRP, the first appellate authority, is often a direct recourse available. We assist the tax payer by drafting and filing an appeal to the CIT(A)/DRP and later represent the tax payer during the course of appeal to its logical conclusion.
Appeals before ITAT
Any person aggrieved with an appealable order may prefer to file an appeal before the Income Tax Appellate Tribunal (ITAT). Here, we analyse the case, identify additional grounds, if any, carry out legal research and prepare and file the appearl as well as the paperbook. We also represent the tax payer before the ITAT either on our own or in consultation with a senior counsel if required.
Settlement Commission
Income Tax Settlement Commission is a premier Alternative Dispute Resolution (ADR) body in India. The settlement mechanism allows taxpayers to disclose additional Income before it over and above what has already been disclosed before the Income tax Department. An assessee may make an application to Settlement Commission at any stage of the case.
The Commission has wide power of granting immunity from penalty and prosecution which are major sources of litigation. The orders passed by the Commission are final and conclusive. We assist in making the application to the Commission and representing the tax payer before it.
Corporate Taxation
Income tax law in India requires corporates having total sales, turnover or gross receipts exceeding Rs. 1 Crore to get their accounts audited under Section 44AB. Our expert tax advisory team provides solutions on availing possible tax benefits and tax shelters under the provisions of the Income Tax Act. The core value of the corporate tax services revolves around optimization of tax benefits to the entity.
The various services covered by our corporate tax team, includes:
Firms & Individuals Taxation
Income tax law in India requires assessees having total sales, turnover or gross receipts from business, exceeding Rs. 1 Crore (Rs. 2 crore and Rs. 50 lakh in case of person, who declares profit in accordance with the provisions of Section 44AD and 44 ADA of the Income Tax Act, respectively) to get their accounts audited under Section 44AB. Our expert tax advisory team also provides solutions on availing possible tax benefits and tax shelters as per the provisions of the Income Tax Act. The core value of the tax services for firms and individuals revolves around optimization of tax benefits to the taxpayers.
The various services covered by our corporate tax team, includes:
Indirect Taxation
India has an unique system of Indirect taxes applying across various industries. Indirect taxes such as Excise duty for concerns involved in the manufacture of goods, Customs duty on import of Capital goods or other merchandise, GST on sale of goods and service tax on select services has been the major areas of interest concerning the industries and the common public. Many of the provisions of these tax regulations have a high degree of technicality on practical applications.
Our clients are supported right from the initial identification of the applicability of these laws and their implementation.
Registration, Opinions and back office operations for compliance and filing of returns under:
NGO Taxation
NGO's operate under a different system which requires specilaised domain expertise to handle. With a large amount of social activities inflow of contributions and government involvement, NGO's are a special set of Clientele for us.
we bring in whole range of services including: