Our team provides end-to-end services covering:

• Consultancy, advisory, and planning. We also provide opinions on various matters after considering nuances of direct tax laws, various judicial pronouncements, as well as setting out any possible risks or pitfalls which an assessee should be aware of.
• Compilation/vetting of data required for the preparation of direct tax returns/appeals as well as providing representation services before tax and appellate authorities (litigation practice).
• Compliance Audits: We conduct compliance audits to ensure that organizations' management has requisite comfort that all statutory obligations under direct tax laws have been effectively discharged by personnel working for them. The Income Tax Act, inter alia, prescribes onerous obligations on businesses to deduct tax at source on a variety of business payments and remit the same to the government. Failure to deduct such tax will result in the business being held as an ‘assessee in default,’ inviting demands for tax, interest, and penalties. The relevant business expense may also be disallowed while computing the total income of the taxpayer. We also provide support in administering tax compliance by helping taxpayers fulfill their withholding tax obligations. Some of these consequences also apply to obligations related to tax collection at source on specified receipts.
• Transfer Pricing Analysis: In terms of Chapter X of the Income Tax Act, 1961, every taxpayer needs to substantiate that income arising from any international transactions (as defined) with its associated enterprises (as defined) and specified domestic transactions are computed having regard to the arm’s length price. The tax regulations also specify the precise methods to be followed to substantiate such arm’s length price, apart from prescribing elaborate documentation to be maintained. The regulations also require an accountant’s report by every person who has entered into international transactions/specified domestic transactions and furnish such a report to the tax authorities before the stipulated due date.
• Cross-border taxation and advice on double taxation treaties between India and other countries.
• Certification of tax to be deducted at source under section 195 of the Income Tax Act, 1961, on payments to non-residents and liable to tax under the same Act.

A direct tax compliance calendar is separately furnished for tracking events.

Here again, we provide end-to-end services in advisory, litigation, and compliance support, as well as carrying out compliance audits on all aspects of the administration by an entity of its obligation under the Goods and Services Act, 2017, and other indirect tax laws. Accordingly, the scope of our services includes the following:

• Consultancy, advisory, and planning. We provide opinions on various matters after considering nuances of indirect tax laws, various judicial pronouncements, as well as setting out any possible risks or pitfalls which a taxpayer should be aware of.
• Compilation/vetting of data required for the preparation of monthly/annual indirect tax returns, as well as representation before tax and appellate authorities (litigation practice).
• Compliance audits: We carry out compliance audits so that management of organizations has requisite comfort that all statutory obligations under indirect tax laws have been effectively discharged by personnel working for it. The indirect tax code, inter alia, prescribes onerous obligations on a business and stringent penalties for non-compliance. The scope of the audit includes a review of systems to ensure that input tax credit is claimed wherever eligible so that there is no loss to the business.

An indirect tax compliance calendar is separately furnished for tracking events.

Business organizations seek external advice on various facets of corporate law prevailing in India. Our team can provide comprehensive advice covering the following:

• Formation of business – company, branch/liaison office.
• Foreign direct approvals – advise on legal position, structure investment, and obtain regulatory approvals. The extant regulatory setup in India requires various approvals to be obtained by a foreign entity wanting to do business in India. Depending upon the sector in which it operates, the rules and regulations to be complied with by the proposed business are different. There are also regulations to be complied with under the Foreign Exchange Management Act and the rules framed thereunder.
• Foreign outbound investment- advise on legal position, structure investment, and obtain regulatory approvals.
• Secretarial compliance support.
• Advice on various facets of corporate law.
• CSR advisory

A corporate law event-driven compliance calendar is separately furnished for tracking compliance events.

Business organizations are outsourcing many of their activities in view of the increased complexity of such operations, the need for specialized attention in the matter, to retain business focus on core areas, to enhance regulatory compliance and fiduciary responsibility, as well as to have lower crystallized costs.

Bookkeeping and Accounting: We undertake end-to-end responsibility for all business processes relating to bill passing, payments control, bookkeeping, sales accounting, payroll and employee benefits administration, other employee reimbursements, tracking and monitoring of accounts payable and receivable, regulatory compliance, and management information systems, leaving the client’s CFO to focus on financial management, strategic and long-term planning, funds mobilization, and treasury management. Our processes are robust to ensure minimal errors and meet the exacting time schedules of today’s businesses.

Payroll and Administration of Retirement Benefits: We offer end-to-end services for payroll and benefits administration throughout the complete life cycle of an employee’s service and retirement benefits. We use cloud-based, software with strong backup and recovery mechanisms, covering every aspect of the activities involved. These software solutions automate substantially all the nuances of the Income Tax Act, 1961, to ensure proper and timely deduction of income tax at source for salaries and benefits. With separate teams for payroll processing and handling retirement benefits, clients can seamlessly focus on their business.

Internal/Management Audits: Section 138 of the Companies Act, 2013, requires certain classes of companies to appoint an internal auditor, who shall be a Chartered Accountant, Cost Accountant, or such other professional as decided by the Board, to conduct an internal audit of the functions and activities of the company.

The Companies (Auditor’s Report) Order, 2020, requires the statutory auditor of certain companies to comment on whether they have an internal audit system commensurate with the size and nature of their business and whether the reports of the internal auditors for the period under audit were considered by the statutory auditor in his report on the company’s annual financial statements to its shareholders.

Leaving aside the regulatory aspect, all enlightened managements need proactive and periodic internal audits of their books of account, records and processes to ensure their integrity, build mechanisms to ensure that fraud and irregularities do not remain undetected for long periods, and create early warning mechanisms to identify deficiencies, failures, and shortcomings in internal control systems, regulatory compliance, and areas of revenue leakage.

At times, management may want special audits carried out in specific areas to address known or anticipated problems or shortcomings. Our audit program and techniques are customized to client requirements. The scope of the audit is defined, keeping in mind extant internal controls, and is carried out with specific emphasis on improving operational efficiency.

Project Audits: Project audits are carried out in a phased manner, from planning to execution, where each milestone is assessed and reviewed for inputs (cost, material, etc.), and the outcome of each phase is audited within the budgeted amount.

Special Audits: In today’s complex environment, business management requires an impartial and independent agency to conduct special audits to analyse, audit, assess, and report on specific areas of business, functions, or departments to ensure that they are being managed as per expectations while adhering to applicable laws. At times, these special audits arise from whistleblower complaints or suspected wrongdoing by employees, vendors, customers, or associates. This category of audits often requires investigative techniques and forensic audit tools and processes. Our teams carry out such assignments based on specific mandates provided by management.

Risk Assessment/Reviews: Risk analyses are conducted during every phase of a business process, and the consequential risk factors are duly studied, documented, and analysed. Different risk mitigation steps are evaluated, and the suggested course of action is recommended.

IndAS Financial Statements: All companies whose equity or debt securities are listed, unlisted companies with a net worth exceeding Rs. 250 crores, and holding, subsidiary, joint venture, or associate companies of those referred to earlier shall prepare their financial statements in accordance with the Indian Accounting Standards specified in the Companies (Indian Accounting Standards) Rules, 2015 (IndAS), as opposed to the Accounting Standards (AS) specified for all other companies and entities carrying on business.

IndAS standards are closely aligned with and follow the International Financial Reporting Standards (IFRS) adopted by entities in many countries around the world, subject to certain prescribed carve-outs. This was part of India’s endeavour to make its financial statements understandable to global investors operating outside India and compatible with the accounting frameworks prevailing in advanced countries.

IndAS envisages a paradigm shift in the recognition and measurement of certain items of income, expenses, assets, and liabilities, particularly in the accounting of business combinations, leases, investments, financial instruments, and derivatives. The first-time implementation of such standards requires considerable thought and care in selecting appropriate accounting policies wherever options are provided, assessing and understanding their implications, and training personnel on the nuances of these standards. Additionally, it involves advising management on the necessary changes in processes, automation systems, internal and external reporting, and employee reward schemes due to the transition to this new accounting framework.

Our team will assist in all the above activities and guide management at every stage of transition, including drafting financial statements under this new framework with all required disclosures.

Drawing Up Operating Manuals/Standard Operating Procedures: Many business organizations seek external assistance to establish systems and procedures for personnel across various functions, departments, and activities. These manuals outline detailed processes that employees must follow to carry out business activities efficiently while ensuring sufficient checks and balances at every stage. This helps minimize fraud, errors, or irregularities.

Defining responsibility for every activity is imperative to achieving organizational goals and ensuring accountability in case of discrepancies. Our team carefully analyses the nuances of each business activity and its interfaces with other functions before drafting operating manuals and standard operating procedures. Additionally, we define operating powers and design management information systems to meet the complex information needs of management operating in a challenging and competitive environment.

Mergers and Acquisitions: Mergers, acquisitions, or business combinations of every kind require a host of professional services, including valuation, structuring, tax advisory, evaluation of alternatives, assistance in obtaining regulatory approvals, and due diligence studies. In many cases, the devil is in the details—overlooking critical aspects may prove costly in the long run, and in some cases, difficult to rectify. A poor due diligence study of a target can derail otherwise sound strategies.

Our team is equipped to provide comprehensive services in the following areas:

• Conducting valuation exercises for businesses, shares, and intangibles
• Structuring business combinations
• Advising on tax treatment and evaluating alternatives
• Taking end-to-end responsibility for obtaining regulatory approvals
• Conducting due diligence studies (operations, legal, and tax)
• Drafting shareholder and joint venture agreements

Advising on the Structuring of Transactions: Our cross-functional teams assist management in assessing the impact of complex laws across corporate law, direct and indirect taxation, foreign exchange management, labour laws, accounting frameworks, and debt/investor agreements. We help structure transactions in a way that seeks to meet business needs, provides the required flexibility in today’s ever-changing landscape, ensures compliance with applicable laws, and optimizes tax outlays.

Such structuring is particularly complex and specialized in cases of joint development agreements, joint ventures, and cross-border transactions.

We provide the following services:

• Providing support in first-time automation or changes in business processes required due to migration from a legacy system to a new system. This includes understanding the data required in new systems to facilitate its capture, migration from legacy systems, defining controls and validations, establishing business rules, identifying necessary interfaces, and preparing test cases with expected results.
• Conducting post-implementation reviews after the adoption of new systems to ensure the proper functioning of all modules as envisaged. This includes verifying data consistency across modules and tables, ensuring proper adoption of business rules and tax provisions, validating all envisioned controls, assessing the seamless functioning of interfaces, and verifying the authenticity of reports and MIS generated.
• Assisting in defining IT security rules and regulations, password policies, access control matrices, change control procedures, processes for backend changes, measures for business continuity and disaster recovery, identification of critical software components ("crown jewels"), required security measures, escrow management, etc.
• Conducting periodic audits to review the workings and efficacy of each of the above areas.
• Reviewing the adequacy and contents of audit/edit logs available in each software, including both application-level and direct database (backend) changes that might affect financial statements and the financial reporting framework. This also includes verifying whether such logs have been tampered with during the year and ensuring their retention for the period stipulated under the Companies Act, 2013, and the Companies (Accounts) Rules, 2014.

For start-ups and small & medium-sized businesses, handling finance and accounts, payroll, HR, corporate law, tax administration, and regulatory compliances can be overwhelming. We offer one-stop services for all these requirements. Our team endeavours to ensure all compliances are met and that MIS submitted to investors is timely and reliable.

As an entrepreneur, your time and energy should be focused on building your vision and expanding your range of products/services. We can assist you in structuring capital and entity structures, ESOPs, investor interactions, conducting board meetings, and more. We also deal with aspects such as valuation, matters arising from investor funding, compliance with shareholder agreement terms and covenants, share allotment, and keeping shareholders informed at every stage.

For high-net-worth individuals (HNIs), we provide financial, tax, and advisory management solutions tailored to help them manage, grow, and protect their wealth. These include:

• Tax planning and compliance
• Estate and succession planning
• Drafting of wills and setting up of trusts
• Executorship services
• Regulatory and legal compliance

We also advise on regulatory issues involved in cross-border investments, such as the payment of inheritance/gift tax in certain countries and the need for establishing separate wills for assets held outside India.