Assignment For Tax or Audit Matters:
We provide you Retainer ship as well as Assignment Basis Professional Services of Qualified Professionals. In case of Taxation, we provide you services of in the area of Direct and Indirect Tax regarding
- Consultancy in the area of Tax,
- Filling of periodical Returns,
- Rectification of Errors,
- Various submission at Designated Authorities or Appearing before an authority in case of Appeal or Demand
- Issuance of Various Certificates
While in the area of Audit, we provide you services for
- Tax Audit
- Statutory Audit
- Internal Audit
- Stock Audit
- Due Diligence Report and Special Purpose Audit
- Audit of Form 15CB for Remittance.
Day to Day Accounting:
Accounting is the important part of the Business Process. Not only Business Entities but Every Organization is required to maintain Day to Day accounting to comply provisions of Law. Accounting helps to take various crucial decisions based on Product Costing, Administration Charges and other Non-cash expenses like Depreciation and Amortization.
We help you to manage your Day to day updated account as per your requirements based on the various accounting principles, Accounting Standards mandated by Law.
Payroll refers to List of Employees and workers contributing towards growth of Business, but in Management terms, Payroll refers to the Employee cost of an Organization. Employees are biggest asset to an organization, so managing the Payroll effectively is much required for satisfied Employee Base
We provide you all the Services related to regulation and Administration of Your Payroll. It includes Payroll services with compliance of various applicable laws like Professional Tax, Provident Fund, and Employee State Insurance Plan etc., Managing Attendance Records, Calculation of monthly salary based on the attendance and Issuance of Salary Slip etc as per your Business needs.
Financial Due Diligence:
The main objective of financial due diligence is to provide an investor with the insight of the operations of the target company, be it for the purpose of investment or for acquisition. Thus, helping the investor in making an informed decision, so that they are aware about the risks involved in the transaction.
It is detailed analysis of the Financial Results, Revenue Patterns, Cost Structures, Asset and Liability base, Employee Benefits, Intellectual Property, Legal Issues and Information Technology involved in the organization. We provide you the service of the Due Diligence for Financial decision with taking into consideration financial and non-financial parameters of analysis and other tools.
Strategies – Assignment:
Employee related laws in India need to structure considering various laws applicable for following types of employees:
- Permanent Employment for employees below certain threshold which are covered under many law compliances like Medical, Provident Fund, Bonus, Factory Law benefits
- Contractual Employment
- Key Employees / Leadership Positions
Other aspects are applicable salary, licenses, approvals, structuring for tax, budget to understand costing as per statutory compliances.
Drafting of Contracts:
Drafting of Employment related contracts require to consider various aspects like;
- Statutory law compliances
- Roles and responsibilities
- Business security
- Job rotation flexibility
- Remuneration details etc.
Vetting of HR Policies from Legal, Tax and Compliance side:
- Recruitment & Separation / Severance
- Prevention of Sexual Harassment as Workplace
- Contract Employees
- Agreements with Trade Unions
Our team of experienced lawyers for drafting of commercial and HR matters can advise and assist you for overall system process, documentation for pre and post interview, job offer, appointment letter contract with key management employees, contract for MD/CEO , severance contract, various HR Policies etc.
Compensation Package Duly Tax Compliant:
Our team of tax experts can advise and assist your organization to structure Employee compensation packages including monthly salary, perquisites, stock options, retirement benefits, severance package, golden hand-shake etc.
Periodical Compliance Support:
An incorporated company or LLP is mandatorily require to be managed within framework as per the Companies Act 2013 read with Rules and Secretarial Standards i.e. Board of Directors as Management Team and Shareholders as Owners. Each business has its own requirements for day to management depending on its business, size, number of employees, locations its has business, countries it has presence, type of shareholders (Indian / Foreigner), listed or unlisted, sector where regulator is appointed by Govt. of India like banking or insurance sector etc. Generally many events require regular support of a Company Secretarial support for overall advisory, drafting of documents, registry form filing, and need based approvals from Company Registry, liaison / co-ordination for other Govt authorities, few events are :-
- Open a Bank Account
- Appointment or Resignation of Director
- Issue of shares
- Bank Loan
- Buying/ Selling / Leasing of property
- Tax registrations / changes
- Appointment of key employees and delegation of powers
- Annual Budget
- Legal cases
- Signing of major contracts
- Merger, Demerger, Hive-off
Our team of experienced Company Secretaries can advise and assist you for overall compliance such events on assignment basis or monthly retainer ship basis.
Drafting Of Resolutions And Minutes:
Company being an artificial person but legal entity need to take many decisions for day-to-day management of business which happens by its Board of Directors or management team and for major structural decision which is taken by Shareholders / Owners. Those decisions either by Board of Directors or by Shareholders should be in compliance of Companies Act 2013 read with Rules and Secretarial Standards by way of resolution passed by appropriate majority at the valid meeting of Board of Directors or Shareholders, as may be applicable. All decisions at valid meetings of Board of Directors or Shareholders are formally recorded as Minutes for a legal evidence about decisions by a ‘Company’.
Periodical Filings with Registry:
Company Management requires various event based and annual intimation in the form of Returns / Forms to be made to Company Registry, few are:
- Change of Registered Office
- Increase of Authorized or Paid-up Capital
- Change in Directors
- Creation of Charge on assets of company for borrowing
- Issue of shares
- Increase of capital
- Changes in Memorandum or Articles of Association
- Annual Filings – Audited Accounts
- Annual Filings – Details of Shareholders and Directors in Annual Return
Maintenance Of Registers:
As per compliance and audit requirements purpose following statutory registers are to be maintained by all companies:
- Register of Members
- Register of Directors
- Index of Members
- Register of Charges
- Register of Contracts in which Directors or their relatives are Interested
- Attendance Register for Board Meetings and Shareholders Meetings
- Minutes Book for Board and Shareholders Meetings
Every company is require to file annual filings with Company Registry which includes following documents:
- Audited Balance Sheet with Schedules
- Directors Report
- Auditors Report
- Annual Return
- List of Shareholders
- Consolidation of Accounts
Company Law Due Diligence:
Objectives like take over company, merger, amalgamation, demerger, winding-up etc. requires an in-depth study of all past records, transactions, documents, registers to understand few important matters including:
- Proper ownership records
- Proper Board of Directors records
- Creation of Charge are properly reflecting in Registry
- Annual Filings are done properly
- Meetings of Board are called properly and minutes are maintained properly
- Meeting of Shareholders called properly and minutes are maintained properly
- Statutory Registers are proper
- Company law compliance’s for loans, investments, audit, directors, shareholders are properly complied
Transfer of Share under FEMA laws include “sale, purchase, acquisition, mortgage, pledge, gift, loan or any other form of transfer of right, possession or lien”. FEMA law requires approvals and compliances for few matters as per Reserve Bank of India guidelines.
The following share transfers are allowed without the prior approval of the Reserve Bank of India:
- Transfer by way of sale or gift between a person resident outside India (not being a NRI or an OCB) and any person resident outside India; however prior Government approval shall be obtained for any transfer in case the company is engaged in a sector which requires Government approval.
- Transfer of shares by way of sale or gift by a NRI to any NRI; however prior prior Government approval shall be obtained for any transfer in case the company is engaged in a sector which requires Government approval
- Transfer by way of gift by a person resident outside India to a resident;
- Transfer by way of sale on a recognized stock exchange by a person resident outside India;
- Transfer by way of sale or gift by a resident to a person outside India subject to conditions prescribed in Regulation 10 of FEMA 20;
The following share transfers require Prior Approval of Reserve Bank of India
- Transfer of Shares by Resident which requires Government approval
- Transfer of shares of companies engaged in sector falling under the Government Route.
- Transfer of shares resulting in foreign investments in the Indian company, breaching the sectoral cap applicable.
- Transfer of shares requiring prior permission of the Reserve Bank
- A person resident in India, who intends to transfer any security, by way of gift to a person resident outside India, has to obtain prior approval from the Reserve Bank.
- Any other case not covered by General Permission.
Compliance For Each Remittance:
All remittances in India of Capital nature i.e. Share Capital under automatic route need to comply FEMA provisions which is as under:
- Intimation of receipt within of foreign remittances of capital nature receipts like share capital, share application money should be done though an Authorised Dealer (Bank) within 30 days of receipt of funds
- Filing of Form FC GPR within 30 days of allotment of shares along with Valuation Report and other documents