India Specific Services
Though setting up a business in India has become easier and quicker than earlier, certain documentation and processes are still complicated. Ensuring compliance with central, state and union laws is essential from day one. We provide comprehensive solutions, and our services include registration of the company, documentation, licensing, taxation, etc.
Transfer Pricing law was introduced in India in 2001. It deals with curbing tax avoidance by laying down norms for computation of income arising from international transactions or specified domestic transactions (“SDTs”) having regard to the “arm’s length price”. Our Transfer Pricing services offer effective solutions to companies which undertake international transactions or specified domestic transactions with its associated enterprise or group companies which are as follows:
● Transfer Pricing Analysis
● Selection of the appropriate method
● Benchmarking Analysis
● Assistance in preparation of Transfer Pricing documentation
● Issuance of Transfer Pricing Certificate
● Representing Transfer Pricing Cases before Transfer Pricing Officer/ Appellate Authorities
A CSR audit is an evaluation of an organization’s progress toward implementing socially responsible and responsive programs.
The process of evaluating a firm’s various operating code of conduct, procedures other factors to determine its effect on a society.
A review of a company’s social responsibility is an audit that looks at factors such as a company’s record of charitable giving, volunteer activity, energy use, transparency, work environment and worker pay and benefits to evaluate what kind of social and environmental impact a company is having in the locations where it operates.
FAM is an accounting process to keep a track on companies Fixed Asset for the purpose of financial accounting ,asset maintenance and theft prevention
● FAM aims to track the location, quantity, condition, maintenance and depreciation status of their fixed assets
● FAM consists of two activities namely –
Fixed Assets Verification (FAV)
Fixed Assets Register (FAR)
Activities performed under FAV/ FAR
Achieve regulatory compliance applicable to the organization
Identification of any ghost assets in the books of accounts
Assistance in performing dynamic inventory verification
Ensure accurate depreciation calculation for reporting purposes
Assistance in movement and disposal of asset in a proper manner
Ascertainment of variance between books and physical verification
Bar Coding of individual asset tags will significantly reduce the effort necessary for verification of inventories
Enables multiple concurrent inventories with centralized reconciliation
Ascertain fair value of the fixed assets that may reduce insurance and tax costs
Tracks origin and destination of transferred assets. Lists transfer date, acquired values
TRC expertise lies in FAM and our vast knowledge in this activity helps to provide ready solutions to our elite clientele in all sectors. Our PAN India presence, helps us to provide seamless quality service across India .
Income Computation and Disclosure Standards (ICDS), introduced with effect from 1st April, 2015, constitute one of the significant amendments introduced in the Indian Income-tax legislation. ICDS are applicable for computation of income taxable as ‘Business income’ or ‘Other’ Sources income. These standards provide for some significant departure from Indian Accounting Standards and may lead to material tax implications for taxpayers. In this regard, we provide assistance in examining ICDS having regard to nature of business & transactions of the taxpayers and advising on relevant tax implications.
Virtual CFO is a seasoned finance professional who helps you in running your finance function with his expert advice and hands on involvement. As a virtual CFO, we engage a dedicated resource who shall perform the following activities on regular basis –
● Monitor the compliance of pre-agreed budgets and operating business plan of the Company;
● Reviewing the costs/expenses above the pre-decided threshold level before the payment is made by the Company
● Supervising the accounts team and Reviewing and presentation of MIS to the equity investors on a periodical basis
● Assisting in budgeting and forecasting including sensitivity analysis under different market scenarios
● Assisting on implementing financial processes and controls in conjunction with the client team
● Reviewing the compliance of direct and indirect tax, companies act matters, ROC filings, etc. in conjunction with the tax consultants and company secretary of the Company
Virtual CFO is a seasoned finance professional who helps you in running your finance function with his expert advice and hands on involvement. As a virtual CFO, we engage a dedicated resource who shall perform the following activities on regular basis –
● Monitor the compliance of pre-agreed budgets and operating business plan of the Company;
● Reviewing the costs/expenses above the pre-decided threshold level before the payment is made by the Company
● Supervising the accounts team and Reviewing and presentation of MIS to the equity investors on a periodical basis
● Assisting in budgeting and forecasting including sensitivity analysis under different market scenarios
● Assisting on implementing financial processes and controls in conjunction with the client team
● Reviewing the compliance of direct and indirect tax, companies act matters, ROC filings, etc. in conjunction with the tax consultants and company secretary of the Company