NEWS & EVENTS

UNION BUDGET HIGHLIGHTS 2015-16:

  • Proposal to reduce corporate tax from 30% to 25% over the next four years, starting from next financial year.
  • No change in rate of personal tax slabs. Surcharge increased to 12% in case income exceeds Rs.1 Crore. 3% Cess to continue.
  • Deduction for Contribution to Pension Fund- Limit increased to Rs. 1.50 lakh. Health insurance premium (80D) increased from Rs.15000 to Rs.25000 , for senior citizens it is increased from Rs.20000 to Rs.30000, Transport allowance increased from Rs.800 to 1600 per month. Additional deduction of Rs.25000/- for differently abled persons.
  • Non disclosure / Evasion of tax in relation to foreign assets to have punishment of rigorous Imprisonment upto 10 yrs , penalty 300% & noncompoundable offence. Non-filing of returns/filing of returns with inadequate disclosure – 7 yrs imprisonment. property raised from Rs.1.5 lakh to Rs.2 lakh.
  • Voluntary Disclosure Scheme expected in 3 months time for disclosure of foreign Assets
  • Additional investment allowance (15%) & Additional Depreciation (35%) for new units in AP& Telengana.
  • Rate of Income tax on Royalty & fees for technical services paid to non residents reduced to 10% from 25%.
  • Domestic Transfer pricing limit increased to Rs.20 Cr from 5 Cr.
  • As promised, GST to come into effect from 01.04.2016. Service Tax Rates Increased to 14% from 12.36% (No more Education Cess & SHE Cess).Time limit for taking CENVAT Credit on inputs and input services is being increased from six months to one year. Online Central Excise/Service Tax Registration within two working days.

 

Services

Income Tax:

  • Assistance in obtaining PAN, TAN, TIN etc
  • Advisory services for compliance with Income Tax laws and rules
  • Advisory services for tax planning
  • Audit under Income tax laws
  • Representation before authorities and tax tribunals

Service Tax:

  • Assistance in service tax registration
  • Advisory services for compliance with Service tax laws and rules and management of records
  • Advisory services for tax planning
  • Assistance in preparation of returns, vetting of returns prior to filing
  • Representation before authorities and tax tribunals

Central Excise:

  • Advisory services for compliance with Central Excise laws and rules
  • Assistance in management of records as required under Central Excise laws, rules and notifications
  • Representation before authorities

VAT:

  • Assistance in obtaining registrations
  • Advisory services for compliance with VAT laws and rules and maintenance of records
  • Audit under VAT laws and preparation and vetting of returns/reports prior to filing.
  • Representation before authorities and tax tribunals

Audit and Assurance:

  • Assistance in incorporation of companies and related issues
  • Conducting statutory audit under Company Law and other statutes
  • Conducting internal audits and concurrent audits under various corporate laws
  • Advisory services for compliance with corporate laws like Companies Act, FEMA etc.
  • Advisory services for issues relating to EPF, ESIC, Labour laws and related matters

Business management and Financial Services:

  • Preparation of project reports and financial projections
  • Valuation of shares
  • Due diligence in financial matters

Drafting and Conveyancing:

  • MOU
  • Joint venture agreements
  • Partnership deeds
  • Rules and bye-laws
  • AoA and MoA
  • Trust deeds
  • Commercial and legal contracts 

Other services:

  • Audit, Assurance and Advisory services relating to LLPs, partnerships, trusts etc
  • Personal tax planning for individuals
  • Assistance in filing of returns for individuals
  • Investments advisory services for individuals and enterprises
  • Compliance advisory services and tax services for non resident Indians
  • Assistance in FEMA and RBI related matters

Our Differentiator:

  • Ability to provide single-window, personalized and expert services in all aspects of accounting and auditing
  • Assisting in development and implementation of strategies on optimizing financial resource utilization
  • Timely updates on financial issues, compliances and other useful information