Services

Audit And Assurance

With increasing regulatory norms, disclosure requirements and the need for greater transparency in operations and reporting, stakeholders require assurance beyond the traditional evaluation of numbers. Stakeholders have become more enlightened, sophisticated and demand greater transparency and consistency in the preparation and presentation of financial statements making auditing and assurance a prerequisite.

Broadly, Audit involves the following:
  • In depth 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/ Ind AS/ 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 the financial statements require an auditor to provide reasonable assurance that the accounts and financials have been prepared in accordance with the Generally Accepted Accounting Principles (GAAP) and Standards on Auditing (SAs), and that they are free from material misstatements, frauds and errors.

At Suresh Anchaliya & Co., we use a blend of customized systems and controls to obtain audit evidence ensuring compliance with the provisions of the Companies Act, 2013 across industries including publicly listed and privately held and those that are controlled by the government,. We also manage the statutory assurance functions for non-corporate entities based on the relevant statutes and laws applicable to them.

Apart from the statutory compliance, internal audits provide a number of important services to company management. These include detecting and preventing fraud, testing internal control, and monitoring compliance with company policy and government regulation. Companies today need experienced internal auditors to address concerns in risk management, enhance internal controls, execute business plans and meet governance responsibilities. The internal audit functions may be applicable to not only larger companies but also to relatively smaller companies. The risk and impact of any fraud, penalty or wastage may be massive in a smaller company.

Our seasoned audit professionals take a risk-based approach to internal audit with a view to help clients improve performance and operating efficiency.

Banking industry plays a critical role in driving the economic growth. It is closely regulated and supervised to channelize the growth in the desired direction and keep economy in proper shape. The sector helps in overall social good by facilitating the growth that reaches all strata of society. In fact, the sector is helping in the financial inclusion so that the fruits of growth are enjoyed by the economically weaker sections and their overall interests are protected.

The Government and the regulators require credible information from banks to be able to make informed decisions. In this context, statutory audits of banks' financial statements are highly crucial. For quality bank audits, it is essential that the statutory auditors are well equipped in terms of knowledge of the banking sector and keep themselves abreast with the latest developments.

Suresh Anchaliya & Co. have performed various bank audits over the years and strife to continue the same in the years to come.

  • Other types of Bank Audit:
  • Concurrent Audits.
  • Revenue Audit of Banks.
  • Branch Audits of Banks.

As per the provisions of section 44AB of the Income Tax, 1961, a Tax Audit in India involves an expression of the tax auditors' opinion on certain financial details, given by an assessee to enable an assessment of its tax, by the Income Tax Authorities. Our dedicated team of trained professionals conducts the tax audit applying the latest judicial pronouncements, amendments, circulars and notifications issued by the CBDT, may be as applicable for various organizations.

International tax issues have never been higher on the political agenda as they are today. The integration of national economies and markets has increased substantially in recent years.

The rising magnitude and diversity of inter-company transactions and transfer pricing regulations, accompanied by increased administration activities by Governments all over the world have made Transfer Pricing a leading risk management issue for global businesses. Transfer pricing has emerged as a critical success factor in corporate strategic planning and executive decision-making. Organizations focused on growth and leadership have acknowledged the crucial role transfer pricing can play in addressing the corporate tax burden, enhancing operational performance, reducing tax compliance and litigation and ultimately increasing cash flows of the business.

Our dedicated team of qualified professionals conducts the transfer pricing audit using the latest judicial pronouncements, amendments, circulars, notifications notified by the CBDT, as may be applicable for various organizations

Value Added Tax (VAT) Audit in India involves an expression of the auditors' opinion on certain financial details, given by a dealer registered with VAT authorities to comply with the provisions of the VAT Laws. As VAT in India is a state subject, the VAT audit compliance varies from state to state. Our devoted team of trained professionals conduct the VAT audits using the latest judicial pronouncements, amendments, circulars and notifications as may be applicable to a dealer registered under relevant VAT authorities.

Today the world is moving towards better systems and processes, to ensure an entity is strong enough to tackle the multitude changes of a changing environment. The world is coming closer due globalization and has made businesses' rethink their strategy with a fresh perspective not only on compliances with domestic laws but also with global procedures. A review of processes and systems becomes indispensable in such an environment.

We conduct a review of systems and process within organizations to critically review that the operations at various levels are flawlessly followed, ensuring effective controls and operating efficiency. We constantly re-engineer our review procedures to meet the increasing expectations of stakeholders and management by navigating the new risk landscape, providing deeper insights and foresight enabling them to cut through the clutter.

The results are reviewed and the key findings along with recommendations are presented to the management of organizations, advising them off continuous improvement strategies.

Social Audits is a process of evaluation and reporting which is similar, in some respects to a financial audit but focuses on social performance rather than financial performance. It is a tool for evaluating how satisfactorily an organization has discharged its social responsibility. Social Audit is a reform tool aimed at strengthening accountability and transparency in the implementation of projects and policies. It is a method for organization to plan the internal and external consequences of the organization's social and commercial operations. Social audits are further gaining importance amongst stakeholders due to compliance to be made by the corporate of their corporate social responsibility under the Indian Laws.

We conduct our audit in a way so as to fulfill both, financial reporting and social responsibility. Our audit not only focuses on financial records and their scrutiny but it is much more holistic which involves measuring, understanding, and improving the social performance of the organization as a whole. We ensure transparency, reduce leakages, force proper spending of funds, generate trust and peace, and create demand-led improvement in services.

We understand and co-relate the concept of corporate social responsibility with our audit engagement to establish a basis of credibility, confidence, and trust in the eyes of the stakeholders, management, and society.

  • Audit under other sections of the Income Tax Act, 1961 such as 80HHC, 80-IA, etc.
  • Audit of PF Trusts, Charitable Trusts, Schools, etc.
  • Audit of Co-operative Societies.
  • Information System Audit.
  • Socio Assurance
  • Management Assurance
  • Internal Controls and Compliance Audits

Direct Taxation

Managing tax complexity to maximize value is a key consideration of every major business decision. Tax experts at Suresh Anchaliya & Co. provide advice on direct and indirect tax liabilities arising out of domestic and international transactions with the emphasis on effectively optimizing taxation structures that are in sync with our clients business.

We undertake preparation and filing of Income Tax Returns with the Tax Authorities. Further, we assist our clients in making correct and timely payments of tax dues such as Advance Tax, Self Assessment Tax, TDS, etc.

Complicated direct tax litigation at all levels of the Income tax Authorities is our forte.

With the growing complexities and stringencies of the Income Taxes in India, no organization can rule out the wrath of litigation they may face by the Tax Authorities.

Tax litigation in India requires a comprehensive approach with the assistance of a sound legal team and skillful handling at various tax fora.

We possess the experience, acumen and the manpower to represent our clients through tax assessments before the tax department including the international tax department. We also represent clients in transfer pricing assessments before the Transfer Pricing Department and in appellate forums such as Commissioner of Income Tax (Appeals) and Income Tax Appellant Tribunal (ITAT). We help in mitigating hardship and offer intelligent tax advice in a result oriented manner.

The search and survey operations conducted by the Income tax department, commonly known as Income tax raids, has always been one of the worst nightmares of businessmen, high net worth assessees and corporates. The premise of this dread is generally the huge tax burden, massive penalty payments and even possible prosecution actions which may lead to a catastrophic effect on the business and mental tortures faced by the assessees.

Though surveys are not dreaded as much as search and seizure operations, often they are considered to be a step towards such operations. Most of the fears for such operations are valid and the negative impacts are generally unavoidable, though the impact can be much lesser if the assessee has reasonable knowledge about various aspects relating to the raids.

Suresh Anchaliya & Co. have a unique expertise and knowledge in handling search, seizure and prosecution cases and litigation. Our endeavor is to advise our clients through all the stages of the search and seizure operations in order to mitigate the hardship of tax burden and penalty payments by assisting them with the assessment and litigation and the related compliances.

Today, not only companies but other entities like individuals, Hindu Undivided Families (HUF), Partnership Firms, Limited Liability Partnerships (LLP), Association of Persons (AOP), etc. have realized the importance of taxation and its related costs with efforts to mitigate the tax incidence.

We adopt a "result oriented approach"which is flexible and focuses delivery and value as per the client's need. In order to help our clients keep themselves updated with the frequently changing compliances, we provide solutions in a timely and effective manner.

  • 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.

Hon'ble justice Mr. Kailas Nath Wanchoo headed a committee constituted by the Central Government (1971), which recommended setting up of Income Tax Settlement Commission, to serve as an alternative Dispute resolution body. On the basis of such recommendation The Income Tax Settlement Commission (ITSC) was set by Centeral Government up with effect from 1.4.1976.

The motive behind to setup commission is to provide alternative platform to unintended defaulters or onetime tax evaders because One 'Case' settled by the Commission, reduces litigation in respect of an applicant for several years relating to proceedings of various nature, such as assessment, penalty, prosecution, tax collection, etc. Also it reduce burden of Income Tax Department also because each such proceeding before an Assessing Officer of the Income Tax Department is appealable before Commissioner (Appeals) and later before the Income Tax Appellate Tribunal and where it involves question of law, even up to High Courts and the Supreme Court.

Our taxation advisory team is highly knowledgeable and well conversant with the tax laws to provide services relating to ITSC.

Globally, about 80 percent of companies are family-owned and are also to a large extent managed by members of the founding family. India is no exception.

The rapidly changing business backdrop has also made succession planning traditionally a difficult issue for family businesses more crucial than ever. Those Indian family run and managed enterprises that have been extremely successful in the past will do well to recognize the importance of market forces and proactively implement action plans to ensure the future survival and growth of their organizations.

We at Suresh Anchaliya & Co. understand this crucial need of traditional family owned businesses for succession planning ensuring tax efficiency.

The due diligence investigation is normally carried out with the knowledge and co-operation of the management of the entity being investigated.

The analysis of various taxes is one of the most complex areas that are encountered during an investigation. We provide expert tax advice through a highly qualified team which has in-depth knowledge, of the entity’s industry and of the tax nuances faced by it.

We also undertake assignments for investigations mandated by the departments like Service Tax Department, VAT department, Investigation Wing (Crime Police), etc.

  • 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.

Drafting & Conveyancing

At Suresh Anchaliya & Co., we also assist our clients in drafting/ conveyancing of various documents/ deeds. Our draftsmen are very skilled in understanding the client's requirements and converging them with appropriate legal language while drafting documents/ deeds. to any M.O.U, Joint Venture, Collaboration, Partnership Deeds, Lands, and Properties, Sale & Purchase etc., Registration of sale Deeds, Relinquishment Deed, Family Settlements & Power of Attorney etc.

We have proficiency in drafting commercial and non commercial agreements and pleadings such as special leave petitions, plaints, written statements, PIL memos, writ petitions, interim applications by way of notice of motions, chambers summons and other legal documents including:-

  • Memorandum of Understanding (MOU)
  • Joint Venture Agreement
  • Power of Attorney
  • Will & Trust Deed
  • Deed of Sale
  • Licensing Agreement
  • Partnership Agreement
  • Land/ Property Agreement
  • Sale/ Purchase Agreement
  • Registration on deeds/ agreements
  • Relinquishment deed
  • Family settlement

Services to NGOs/ Trust

A non-governmental organization (NGO) is a citizen-based association that operates independently of government, usually to deliver resources or serve some social or political purpose. The World Bank classifies NGOs as either operational NGOs, which are primarily concerned with development projects, or advocacy NGOs, which are primarily concerned with promoting a cause. Indian Non-governmental organizations (NGOs) can be set up under various Indian laws, and the different legal entities under which civil society organizations can register themselves such as a Society under the Societies Registration Act, 1860, Public Charitable Trust, Section 25 Company, etc. We assist in the registration procedures of Societies, Trusts and Section 25 Companies. We guide our clients through the modes and methods, procedural formalities and the process of documentation. We also counsel them regarding the benchmark required for registration. Our panels of accountants with their sound professional information help organizations to meet the requisite criteria to obtain and avail tax exemptions for noble causes. We provide all the services pertaining to NGOs, including incorporation, compliance related to applicable laws, audits, taxation and other routine compliances.

  • Designing and implementation of Accounting methodology, Policies and procedures.
  • To establish and monitor convergence and linkage of program activities and financial management of the NGO's.
  • To guide in Planning & Budgeting the proposal of any developmental activity.
  • Monitoring and Audit of financial records.
  • Project evaluation in association with the experts in the particular field including financial evaluation.
  • Cost analysis of the socio-economic project based on the financial data.

  • Foreign Contribution Regulation Act - Registration and Returns.
  • Income-tax Registration & Returns.
  • 80G Registration under Income-tax Act.
  • Compliance under the Societies Act, Indian Trust Act etc.

Internal Control and Risk Advisory

Every business organization is subject to some kind of risks depending upon several factors such as the products and services it sell, the market in which it functions, the sources through which it is financed, and the way it utilizes its resources. A good corporate internal control has now become an integral segment of risk management framework. The prime purpose of corporate internal control is to promote economical as well as efficient operations that go with the objectives of an organization. Since a good internal control system ensures that the resources are utilized only for their intended purposes, a great advantage is that it helps to overcome the risk associated with the misuse of organization's funds and other resources. Assessment of risk involves the analysis and establishment of plans in order to prevent the risks associated with the attainment of company's objectives

  • Process Design Evaluation
  • Business Process Redesign.
  • Mapping the key processes, intra-group and outsourced, of risks and controls.
  • Suggest ideas to improve and optimize the different levels of control.
  • Development of/ and or review of an Organisations Risk Management Strategy and Policy;
  • Review of an Organisations Risk Appetite and evaluation criteria including a review of or development of Qualitative and Quantitative Risk Evaluation and Assessment rating scales;
  • Risk Management Training.

Corporate Law Consultancy

Companies in India are governed by the provisions of the Companies Act, 2013 (previously known as Companies Act, 1956) and other allied laws. The Companies Act, 2013 has brought in many new challenges and compliances.

The changing environment has also brought Compliance to the forefront in India in recent times, with constant amendment to the statutes and the strictures of law, the adherence to the Companies Law, has been made more stringent.

In the face of these continuous changes, we at Suresh Anchaliya & Co. undertake advisory and compliance related services under the Companies Act, 2013 and the new intended legislation including documentation and registrations required with the Registrar of Companies

Our services in Corporate Law Matters are customized in accordance to client's specific requirements. We assist the client's from the very initial processes of company incorporation to company maintenance process, regulatory compliance, XBRL services, etc.

  • Assistance in incorporation of a Company / LLP
  • Assistance in conversion of existing companies / partnership firms into LLP and vice versa
  • E-filing of various documents and returns with regulatory authorities
  • Assistance in maintenance and filing of all statutory records
  • Secretarial compliance services
  • Consultancy in Corporate Law matters
  • Review of various documents from a regulatory standpoint
  • Appearance before central government, Company Law Board and other authorities
  • Convening and conduct of different meetings such as board of directors and shareholders meetings
  • Winding up / dissolution of companies and LLPs

Transaction Advisory Services

The emergence of a large number of professional Private Equity and Venture Capital firms, the increasing maturity of capital markets, in terms of the large number of institutional players and improved systems, has provided myriad opportunities in structuring innovative deals by raising debt or arranging equity financing for Corporates.

The ongoing liberalization schemes of the Government is also expected to gain momentum resulting in significant opportunities in the market for Mergers, Disinvestments, induction of strategic partners, Joint-ventures, spin-offs, etc.

We are well equipped to meet the fast changing and evolving requirements, so as to provide our clients with effective solutions that would exceed their shareholders' value creation expectations. We help organizations work smarter and grow faster.

Our valuation practice converges information by understanding the specific industry in which the client operates and provides proactive commercial and market-focused data.

Our professionals along with our expert associates provide independent advice to directors, shareholders, management and other stakeholders to:

  • Business Valuations - determine the right price to pay or accept for a business
  • Determine the value of equity to be issued to new shareholders or partners
  • Evaluate merger / swap ratios
  • Evaluate and defend an unwelcome and unsolicited takeover bid
  • ESOP Valuations
  • Valuations for Purchase Price Allocation in a Slump Sale

The Capital services offered by the us is through a wide network of Private Equity, Venture Capital, Institutional, Angel and High Net-worth Individual to understand what each investor brings to the table and what they look for in potential investees.

Once we understand a client's business and capital needs we will be able to find the right partner who brings more than just capital. We conduct a thorough analysis of the business, prepare the most relevant materials and run a systematic marketing process to find the best investor for our clients.

We also assist in, advising corporations, institutions and sovereign entities on the structure of new debt issues and the refinancing of existing obligations, provide advice on refinancing of acquisitions to replace short term finance with more efficient long - term solutions from the banking sector or the capital markets, help create and implement efficient financing, including both domestic and transnational leasing transactions and provide advice on refinancing of asset-based businesses and the design and financing of novel solutions in vendor financing.

Within the commercial framework of a deal, a wide range of financing and structuring options are possible.

We focus our approach on the most effective options in terms of cost and tax efficiency and provide advice on the alternatives available for all types of corporate transactions including mergers and acquisitions and leveraged buyouts.

The growth of the corporate sector in the recent years along with the liberalization and globalization of the Indian economy has made the subject of business restructuring and reorganization of great interest to businessmen and professionals. Various policy changes have made Indian managements review their business plans in the context of size, reach and global access. Businesses today need to not only to be in a position to survive but also to grow, diversify and consolidate their areas of best practices.

We provide corporate restructuring through a variety of mechanisms, including mergers, acquisitions, divestures, sales etc. assisting clients through its internally developed approaches and methodologies in the entire transaction process-ranging from providing indicative values to deal closure.

We help our clients at every stage of the restructuring exercise keeping in mind the future and the opportunities it brings, by providing competent financial advice.

Additionally, we provides the following services to its clients

  • Framing of Scheme.
  • Coordination with Corporate Lawyer.
  • Coordinate/ pursue the matter with various agencies involved.

Even before a deal has signed, there still remains a considerable chunk of work that needs to be completed. Effective time and resource management is critical to the successful completion of a transaction.

Our services include setting up and monitoring the timetable, taking each step forward towards completion and working closely with other professionals working on the transaction. We cutomize our services to the needs of our clients and provide them with regular progress reports.

Our services include

  • Discussing the valuation
  • Negotiation of financial terms
  • Outlining preferable terms
  • Briefly describing tax and accounting consequences of each proposal
  • Suggesting counter proposal alternatives
  • Communicating with interested parties
  • Reporting potential problems
  • Attending and assisting in all negotiating sessions leading to a transaction
  • Helps manage the negotiation process and achieve successful implementation without undue delay

We establish price expectations and realistic valuation parameters taking into account taxation and other industry norms to ensure the most beneficial structure for sale.

We also identify and assess prospective purchasers, nationally and internationally. We design the process to maximize proceeds for the vendor whether by competitive bidding or other methodologies.

Our approach involves our strength to nurture the core capabilities with a view to attain and sustain a leadership position in the market, aim at specialization, which may involve divesting from non-core investments and concentrating on the core competencies. We help our clients at every stage of the exercise keeping in mind the future and the opportunities it brings, by providing competent financial advice.

The term due diligence describes a general duty to exercise care in any transaction. It spans investigation into all relevant aspects of the past, present, and predictable future of the business of a company. The main purpose behind conducting due diligence usually is

Confirmation that the business is what it appears to be;
Identify potential "deal killer" defects in the target and avoid a bad business transaction;
Gain information that will be useful for valuing assets, defining representations and warranties, and/or negotiating price concessions;

At Suresh Anchaliya & Co., we believe that effective due diligence depends on identifying and managing significant transaction issues, anticipating and identifying potentially important risk and negotiation issues. Our approach is to save time, money and effort as well as to help in influencing the price at the outset of the deal.

Foreign Exchange Management Act (FEMA)

The Foreign Exchange Management Act (FEMA) is the legislation that governs the foreign currency in India with the objective of facilitating external trade, balance of payments and promoting the orderly development and maintenance of the foreign exchange market in India.

We provide services to investors to facilitate their investments into India, including advising on investment strategy, consultation for doing business outside India, obtaining permissions for setting up office including assistance for Joint Ventures (JV) and handling other routine compliances including obtaining permissions from RBI under FEMA.

  • Compliance of the procedure including Chartered Accountants Certification for repatriation on Income/Assets from India.
  • Making applications to Reserve Bank of India for Purchases/ Sale of Shares, Debentures & Securities and directly to and from Residents and Non Residents in India and outside India.
  • Making application to Reserve Bank of India for Purchase/Sale of Residential and Commercial Property including renting out of property.
  • Any specific advice required in relation to FEMA/ RBI matters.
  • Consultancy On implications of various provisions of the Foreign Exchange Management Act, 1999.
  • Planning the matters/ transactions/ projects/ agreements involving FEMA
  • Collaborations In/ Outside India related compliances
  • Investments Outside India (Overseas Investments) related compliances
  • Investments By Foreign Enterprises, Foreign Residents in India (FDI) related compliances
  • Non Resident Indians (NRI)/Persons of Indian origin (PIO) - Privileges and obligations under FEMA
  • Professional services in the field of obtaining Foreign Investment Promotion Board (FIPB) approval for FDI
  • External commercial Borrowings( ECB) - Law Procedures and Compliance
  • Investment in Real Estate Sector through FDI and investment by NRI/ PIO in Real Estate sector - Law procedure and compliance
  • Residential status of Individuals - Law, procedure and compliance
  • Reserve bank Of India - Professional services in the field of obtaining permission under various provisions of FEMA, Filing of Intimations, Statutory Forms & Returns
  • Statutory Compliances - As per Requirements of FEMA and their compliance
  • Taxation - Of foreign enterprises, opinion, consultancy and compliance
  • International Transactions covered under FEMA - Implications of Transfer pricing law and Double Taxation Agreements(DTA)
  • Professional services for obtaining Import - Export Code ( IEC ) from DGFT

Certification Services

We provide various certificates including certification required under the Income-tax Act like
  • Remittance certificate for foreign remittances to be made from India like payment to foreign technology collaborator, remittance on account of sale of investment or property etc.
  • Minimum Alternate Tax (MAT) certificate to be made for the purpose of ascertainment of the book profits
  • Certification required under exchange control regulation for imports, exports related incentive schemes, duty drawback etc.
  • Income Tax
  • FEMA
  • Company Law

Payroll services

  • 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.

Project Finance

We arrange project loans for Greenfield as well as expansion projects. The scope of work ranges from negotiations with the lending agencies to obtaining the final loan sanctions.

We use our relationship network with all the banks and Institutions to tie up working capital facilities for our clients. The scope of arranging such limits extends from preparation of the CMA till the final sanction of limits. The limits would be arranged either through the multiple banking route or through the consortium route, depending upon the size of the facility.

Spire has considerable expertise in Project Finance. We advise our clients right from the project conception stage followed by preparation of the project report with optimal financial structuring.

Corporate Finance is a long-term business strategy, characterised by extensive lead-time before deals are finalised. Locating the time and cost effective sources of finance for your project is our strength. Be it Equipment Finance, Short or Long Term Funds, Trade Finance, Structured Finance or any other product, our team studies the options available, then sources the most beneficial route for our clients.

Our Services include:

  • 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)

Wealth Management

Wealth Management is an investment advisory discipline that incorporates financial planning, investment management, insurance and risk management, tax planning, retirement planning, estate planning and a number of aggregated financial services.

We use holistic approach in providing Wealth Management Consulting encompassing Wealth Protection, Wealth Accumulation and Wealth Utilization and includes Past, Present and Future Wealth Management. We provide end-to-end services to NRIs - from opening bank account; to getting PAN and KYC compliance; to risk profiling; to financial planning and investment management; to monitoring, reviewing, and analyzing investments; to changing investment directions based on numerous factors; to tax return filing in India; to supporting tax compliance of respective country, etc.

  • One stop for Investments, Indian Taxes and International Regulatory Compliances.
  • Provide access to privileged services as we have established long term relationships with banks, financial and other institutions for quick service, speedy processing, and better forex and FD rates.
  • Provide income tax, gift tax, and other compliance (SEBI, RBI, etc) related guidance as well as file tax returns in India.
  • Support tax return preparation and filing in the respective countries using DTAA provisions (e.g. for US based clients, support in filing Form 1040, Form 8938, FBAR etc.).
  • Currently providing services to clients from India, US, Europe, Middle East, Africa, and Australia.

Corporate governance

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.

  • 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.

Services to Non Residents

As MNCs look for better ways to participate in the global market, cross-border transactions between associated enterprises are increasing in volume and complications. There has been a remarkable rise in litigation worldwide as more and more Governments attempt to enforce their transfer pricing rules vigorously.

In India, there are considerable Transfer pricing regulations in place according to which an arm's length standard is the criteria for judgment.

Transfer pricing is simply the act of pricing of goods and services or intangibles when the same is given for use or consumption to a related party. It can be either Market-based, i.e. equivalent to what is being charged in the outside market for similar goods, or it can be non-market based. Importantly, two-thirds of the managers say their transfer pricing is non-market based.

The Indian landscape is also witnessing change, with safe harbor rules and advance pricing arrangements on the cards and MAP evolving as an alternate dispute resolution mechanism. The Transfer pricing Regulations were introduced in India vide the Finance Act, 2001 by substitution of the existing 92 and introduction of new sections 92A to 92F in the Income Tax Act and relevant rules 10A to 10E in the Income Tax Rules, 1962.

Suresh Anchaliya & Co. shall help you with the following services:

  • Advise on drafting of transfer pricing arrangements between group entities.
  • Analysis of the transactions between group entities from arm's length point of view.
  • Transfer Pricing Documentations.
  • Transfer pricing audit and submission of Form 3CEB to Transfer pricing officer.

The Central Government of India has entered into agreements with various Governments of countries outside India for avoidance of double tax effect levied on an assessee's income in both countries. The Double Tax Avoidance Agreement (DTAA) encourages and emphasizes the need for transparent cross border transactions. Ergo, DTAA has become very important to prevent and reduce undue hardship that can be faced by assessees by having to pay taxes in more than one jurisdiction of the world.

Our endeavor is to advise our clients through all the stages of the cross border transactions to mitigate the hardship of double taxation by advising on the incidence of tax based on the nature of the income and expenditure incurred keeping as per the provisions of the Indian Tax laws and the provisions of the double tax avoidance agreements, withholding tax issues and the related compliances.

Indirect Taxation

Indirect taxes are spread through in every area of an entity's business. Their impact on material and production costs, cash flow, profitability and, ultimately, on shareholder value is an important element to stay ahead in competition

The current Indirect tax regime in India is still in a state of evolution, despite the various reforms in recent years. The system is quite complex, with multi-layered levies both at the Central and State level. The Central Government levies tax on goods at the point of import (Customs duty), manufacture (Excise duty), inter-state sales (Central sales tax or CST), and on provision of services (Service tax). The states, on the other hand, have been vested with powers to levy tax on sale of goods within the state (Value Added Tax or VAT), and on the entry of goods into the state (Entry tax), under the respective state laws.

Further, as India is committed to move towards uniform Goods and Services Tax (GST) regime, this needs to be factored in any significant tax approach developed at present.

We provide advisory services in respect of the state level VAT and Sales tax related matters. Our services would include the following:

  • Getting Sales Tax Registration under Central Sales Tax Act and VAT.
  • Consultancy on matters related to Sales Tax including Tax planning.
  • Preparation of VAT returns.
  • Filing of Electronic/ Manual VAT returns
  • Help in obtaining statutory forms.
  • Representation
  • Advisory services
  • MVAT audit
  • Setting up of accounting system and training
  • VAT Planning
  • Liaison with VAT authorities Getting Sales Tax Assessments done.
  • Filing and pleading appeals wherever necessary.

The role of service sector in the Indian economy is quite significant.. By the Finance Act, 2012, the Central Government has amended the taxation of services, from adopting "Selective approach" (where only specified services were taxed) to a "Comprehensive approach" (under which all services would be taxable unless any of the services is specifically excluded/ exempted).

We have a team of specialized professionals who take a risk-based approach to service tax audit with a view to help clients to comply with the service tax laws. We go beyond traditional fundamentals and add tangible value. We also provide advisory services and a full spectrum of highly efficient outsourcing and co-sourcing solutions for service tax. Broadly, our services would include the following:

  • Registration under Service tax.
  • Preparation and filing Returns.
  • 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.
  • Representation
  • Advisory services
  • Setting up of system for accounting of service tax and training
  • Assistance in availment of notified Abatements.
  • Utilization and availment of service tax credit
  • Computation of Service tax payable.
  • Getting assessments done
  • Service Tax planning

The Goods and Services Tax (GST), the biggest reform in India's indirect tax structure since the economy began to be opened up 25 years ago, at last looks set to become reality. GST is one indirect tax for the whole nation, which will make India one unified common market.

GST is a single tax on the supply of goods and services, right from the manufacturer to the consumer. Credits of input taxes paid at each stage will be available in the subsequent stage of value addition, which makes GST essentially a tax only on value addition at each stage.

The final consumer will thus bear only the GST charged by the last dealer in the supply chain, with set-off benefits at all the previous stages. Most of the indirect taxes applicable throughout the country would now be a taxed as GST (i.e. subsumed).

At the Central level, the following taxes are being subsumed:

  • Central Excise Duty,
  • Additional Excise Duty,
  • Service Tax,
  • Additional Customs Duty commonly known as Countervailing Duty, and
  • Special Additional Duty of Customs.

At the State level, the following taxes are being subsumed

  • Subsuming of State Value Added Tax/Sales Tax,
  • Entertainment Tax (other than the tax levied by the local bodies),
  • Central Sales Tax,
  • Octroi and Entry tax,
  • Purchase Tax,
  • Luxury tax, and
  • Taxes on lottery, betting and gambling.

Advocacy

The mapping of 'as is' scenario and GST impact assessment will bring to light critical areas which could be of a concern to the Company in the new regime vis-a-vis the old regime. The illustrative examples in this connection are outlined below:

Rate under GST regime vis-a-vis concessional rate / exemption enjoyed in the erstwhile regime
Impact of additional 1% IGST on interstate movement of goods
Continuation of tax incentives (Excise, VAT) under the proposed new regime
Inverted duty structure
Transitional issues to ensure complete availability of balance credit for offset in the proposed new regime

Our professional services by indirect tax experts would be vital to help the Company to identify such issues, devise strategies to mitigate exposures and, if required, represent the concerns before the appropriate authority.

Re-modelling Business Structures

With the introduction of GST, the present indirect tax rate structure has been overhauled. The GST rates finalized by the GST council in their meeting on 3.11.2016 is 0%, 4%, 5%, 12%, 18% and 28% depending on the type of goods or services. Further, the credit mechanism has also been revamped. The IGST credit shall be completely fungible vis-a-vis IGST, CGST and SGST, whereas there would be no cross utilization of credit between CGST and SGST.

GST is proposed to be levied on supply vis-a-vis sale/ manufacture. Companies would, therefore, have to necessarily evaluate their supply pattern (and its frequency thereof) since the supply to warehouse or for job work basis would fall within the purview of GST. Supply chains will therefore see a radical change and the existing supply chains will need to be re-looked and re-structured.

Ergo, all the existing models would be required to be re-looked into, to fashion the most efficient business model. Our team of Indirect Tax professionals shall assist clients in evaluation and streamlining logistics supply chain, largely from a tax perspective.

Accounting and IT infrastructure

Today's businesses involve rampant use of software (ERP, SAP, Tally) both by the industry and service providing tax professionals. With the advent of GST, drastic revamping of existing IT infrastructure would be required. Further, the entire current accounting codes / treatment may undergo a change under the new legislation. With the knowledge of GST, our indirect tax professionals would be best suited to aid technicians in designing the software modules tailor made as per the client's organization.

Tax planning

With a new law, comes a new set of tax/ procedural issues and hence the professionals also need to evolve and devise new tax planning strategies. Our experienced team of professionals possess the capability to foresee the issues faced by the client before the industry faces them and accordingly carve out strategies to avoid the bottlenecks. Our focus would be on framing strategies which mitigates tax cost, within the legal framework.

Advisory services

The businesses would require regular services in areas such as determining place of supply, determining what is goods and what is services, availability of credits, maintenance of records, etc. We shall provide advisory services for dealing with unique issues such as inter-state supply of services, inter-state supply of intangibles and valuation of branch transfers. Further, we shall also assist in preparing the Standard Operating Procedures for business under the new regime.

Registration and procedural compliances

The clients would immediately require assistance in terms of registration under the new law, details and mechanics of records to be maintained. Needless to say regular services such as payment of taxes, filing of returns and audit-related services would continue.

Litigation support

As the new regime kicks in, litigation support would increasingly be required by the industry. Be it appearance before the Departmental officers, drafting (Replies, Appeals, and Petitions) or appearance before higher forums. We possess the experience, acumen and the manpower to represent our clients through assessments before the tax department including at the appellate levels.

Training

Introduction of GST will lead to rise in training requirements for our clients. Training would be required in first educating the owners and higher management of the organization on the likely impact of GST on their business and thereafter updating the company personnel with nuances of GST along with regular update sessions.

Professional Tax The firm renders the following services for Maharashtra Professional Tax:
  • Registration
    • The firm takes up the responsibility of registering the client's organization under the Professional Tax umbrella.
  • Filing of Returns
    • The firm provides advisory services and guides the clients in preparing and filing the Professional Tax returns.
  • Representation
    • The firm undertakes preparation of written submissions and appearing before the tax authorities.
  • Advisory Services
    • The firm gives advisory services and consultancy as per the requirements of the client.

Accounting Services

Modern day business faces myriad complex accounting issues related to acquisitions, consolidations, debt / equity offerings, restatements, treasury, hedging and more. These are major challenges and may disrupt an entity's day-to-day operations.

We help companies maximize value during these moments of exceptional change. With a network of trusted advisors, we support companies with their accounting, financial reporting and valuation needs. Our practitioners combine accounting, valuation and tax expertise to help our clients preserve the value of their business. We customize solutions to the client's needs, allowing clients to concentrate on business operations leaving the worries of accounting and compliances on our trusted team.

We offer highly efficient accounting services catering towards our local, national and international clients.
  • Design, implementation and review of accounting manual
  • Advice on various accounting issues including those related to Indian GAAPs, International GAAPs, US GAAPs and IFRS
  • Comprehensive book-keeping & accounts processing
  • Periodic review and finalization of accounts and financial statements
  • Monthly management accounts
  • Payroll processing
  • Transaction processing services
  • Financial Accounting.
  • Budgeting.
  • Financial Reporting.
  • MIS Reports.
  • Financial Analysis.
  • Asset Accounting Management.
  • Depreciation and Amortization Schedules.

International Taxation And Transfer Pricing

As MNCs look for better ways to participate in the global market, cross-border transactions between associated enterprises are increasing in volume and complications. There has been a remarkable rise in litigation worldwide as more and more Governments attempt to enforce their transfer pricing rules vigorously.

In India, there are considerable Transfer pricing regulations in place according to which an arm's length standard is the criteria for judgment.

Transfer pricing is simply the act of pricing of goods and services or intangibles when the same is given for use or consumption to a related party. It can be either Market-based, i.e. equivalent to what is being charged in the outside market for similar goods, or it can be non-market based. Importantly, two-thirds of the managers say their transfer pricing is non-market based.

The Indian landscape is also witnessing change, with safe harbor rules and advance pricing arrangements on the cards and MAP evolving as an alternate dispute resolution mechanism. The Transfer pricing Regulations were introduced in India vide the Finance Act, 2001 by substitution of the existing 92 and introduction of new sections 92A to 92F in the Income Tax Act and relevant rules 10A to 10E in the Income Tax Rules, 1962.

Suresh Anchaliya & Co. shall help you with the following services:

  • Advise on drafting of transfer pricing arrangements between group entities.
  • Analysis of the transactions between group entities from arm's length point of view.
  • Transfer Pricing Documentations.
  • Transfer pricing audit and submission of Form 3CEB to Transfer pricing officer.

The Central Government of India has entered into agreements with various Governments of countries outside India for avoidance of double tax effect levied on an assessee's income in both countries. The Double Tax Avoidance Agreement (DTAA) encourages and emphasizes the need for transparent cross border transactions. Ergo, DTAA has become very important to prevent and reduce undue hardship that can be faced by assessees by having to pay taxes in more than one jurisdiction of the world.

Our endeavor is to advise our clients through all the stages of the cross border transactions to mitigate the hardship of double taxation by advising on the incidence of tax based on the nature of the income and expenditure incurred keeping as per the provisions of the Indian Tax laws and the provisions of the double tax avoidance agreements, withholding tax issues and the related compliances.

 
     
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