Services

“Audit” may be statutory or discretionary, if planned properly; it is one of the most useful management tools. We follow the process of obtaining a comprehensive understanding of the client’s business, accounting system & intend controls & this enables us for a key area & make us more efficient compared the normal audit.

Our audit Approach is business oriented & we implement the latest method for maximizing audit efficiency through a rich based international audit approach. This has helped us in delivering value added advisory services to our clients in a timely manner.

Bhattacharjee S & Co. has a significant audit practice which it does not deviate from since its foundation in (1983). Over the years we have specialized in carrying out the internal management audits of various business liabilities. Our form has been to audit as per the statutory requirement & also help our clients with reporting on irregularities & weakness in the interval controls & systems for proper action & rectification.

Audit and assurance are processes used for the evaluation of the financial record of the company. They are hand in hand process.

Audit and assurance is the process of verifying the records available in the company’s accounting record as per accounting standard and principleS, and it also confirms that accounting record is accurate or not.

Assurance is the process of analyzing and is used in the assessment of accounting entries and financial records. An audit usually follows assurance.

Taxation 

Direct tax consultancy :-

The world is changing at a very fast rate and so are the rules & regulations in today’s complex financial & business world, everyone needs reliable, professional taxation help & consultancy for managing personal & business finances with well thought decisions .

It is not only necessary to ensure that all transactions are accounted for in compliance with the various statutory requirements, it is also important to make the most of every opportunity to maximize the income of every assessee & properly plan the taxing regimes  so as to maximize the tax liability by claiming the various exemptions & deductions. We offer our services in the following are as in Direct Taxation.

a) Corporate & personal tax compliance including Income-Tax Assessments, Appeals before the Commissioner (Appeals) and the appealing before Income Tax Appellate Tribunal.

b) Tax planning for corporate & individuals filing of Income Tax, Wealth tax return of residents & non-residents individuals, domestic & foreign companies & other entities.

c) Merger & Acquisition-Tax implications

d) Transfer pricing & International Taxation

e) Liasoning with senior Tax counsels for obtaining legal opinions, conducting tax litigations i.e. appeal court references & unit petitions etc.

Indirect Taxation:-

We offer services in the following areas:

• Indirect Tax advisory- advisory companies, firms & individuals on service planning
• Indirect tax management- attending to registration, records, periodic compliances.
• Appeals-Liaison with senior tax counsel for cases at tribunal & High Court opinions.

Secretarial & Compliances services 

Every Company incorporated in India is governed by the Companies Act, 1956 & is required to abide by the rules & provisions of the aforesaid Act. The services provided by us in this field are as follows:-

• Incorporation of companies with the Register of Companies.
• Registration of Liaison, Branch & Project Offices of Foreign Companies with the Register of Companies.
• Conducting Board Meetings & General Meetings & helping them in drafting minutes of the meetings.
• Maintaining records & registers for company Law, Shops & Establishment Act etc.
• Managing winding-up companies, striking off default companies from record of Register & other issues, managing bankruptcy proceedings & advising under such industries regulations.
• Assistance in approvals for Merger & Amalgamations & other matters.

Corporate Advisory Services

Corporate advisory services assume that business around the globe having their base in India get full assistance to get permissions, licenses and authorizations prescribed under different enactments. The services offered by us in this sector include:-

• Management Consulting
• Transactions & Restructuring
• Risk Consulting

Corporate Advisory Services is a business requires advisory services in a number of domains, Some entities have multi disciplinary teams that provide advisory services on issues that cut across domains, while others specialize in specific domains.
Corporate finance advisory means the advisory services that are provided to the various corporate bodies about the financial aspect of their operations.  These services may be provided by the advisory boards of the companies or by professional bodies who deal in such services
Accurate business valuation is one of the most important aspects of M&A as valuations like these will have a major impact on the price that a business will be sold for. • Most often this information is expressed in a Letter of Opinion of Value (LOV) when the business is being valuated for interest’s sake.
Corporate Finance in Planning of Business Services • These would involve financial planning, project appraisal etc
Corporate Finance in Generating Funds • These refer to activities for raising funds for the company, – debt funding, IPOs etc.

Business Advisory Services 

As the auditors of several companies, we are in a special position to provide business with constructive, ideas & in sights. We being outsiders to the client’s organization can be objective in presenting our observations & suggestions. Business advisory services are offered in the hope that they will establish a creative exchange of ideas, one which will result in meaningful actions enhance the company’s growth and profitability or to benefit and strengthen the organization while enhancing the depth and value of the professional relationship mutually, for client and the firm.

• SERVICES TO NON-GOVERNMENTAL ORGANISATIONS:-

  We offer our services in the following areas:-

1. Guidance on legal compliances such as Foreign contribution regulation act Registration and Returns Income Tax Registration and Returns
   80G Registration under Income Tax Act Compliance under sections Act, Indian Trust Act etc.
2. Designing and implementation of Accounting and procedures.

For firms, the final frontier isn’t financial reporting, but instead, business advisory. With advanced financial knowledge, and an insight into your clients’ business strategy, providing that advice is the obvious next step.
But providing clients with strategic business planning services is not as time-consuming or complicated as it sounds.

It’s a whole new world, and it’s shining, shimmering, strategic.

• Invest in Tech:-

This technology is not the modern world gone nuts, but instead a continuation of accountancy’s centuries-long relationship with technology.
Keeping up to date with all things technology is now the difference between keeping clients and losing them. In fact, firms that use technology will grow an average of 11% more over a ten-year period than firms that don’t.

• Become the Trusted Advisor:-

Modern technology plays a vital role in incorporating advisory services into your firm. But the ability to have a frank conversation with your customers is worth its weight in gold.
Increased reliance on technology can make it easy to forget one of the pillars of good practice: communication. Remembering that your clients neither have your experience, nor your knowledge, is vital to maintaining a strong relationship.
For those without a background in finance, accounting jargon can be the equivalent of speaking in tongues. Keep it simple, and your clients will thank you for it.

• Overcoming Client Objections:-

With open communication, and integration with value-add technology, you can begin to provide essential strategic services. But for some clients, moving to tech-solutions can be daunting
It’s our job as the trusted advisor to walk you through the transition. After all, we’ve probably been there yourself.
Integrating essential technology to deliver advisory services to your clients is rapidly becoming part of what it is to be an accountant. But allowing yourself to be a trusted advisor takes more than just using the software available.
Asking the right questions, listening to the answers, and providing advice, will set you on your way to becoming invaluable.

Post Incorporation Compliance:- 

• Board Meeting:-

  First Board Meeting is required to be held within 30 days after Incorporation. there should be Four board meetings conducted in one calendar year. 1/3rd of the total number of directors or minimum 2 whichever is greater should be present at the meeting. The gap between two Board Meetings should not be more than 120 days.

• Annual General Meeting (AGM):-

  It is mandatory that one Annual General Meeting be held every year. The gap between two AGMs should not be more then 15 months.

• Statutory Compliance:-

  It is mandatory to maintain statutory registers, Minutes of Board Meeting books, Minutes of AGM books. Company can maintain e- Statutory Register rather then physical Statutory Book.

• Audit Under Income Tax Act (Tax Audit):-

          A taxpayer is required to have a tax audit carried out if the sales, turnover or gross receipts of business exceed Rs 1 crore and Profession exceeds Rs. 50  n             Lakhs in the financial year. Section 44AB of the income tax act, 1961 lays down certain conditions for applicability of tax audit in the provisions of Sec                     44AB(a); Sec 44AB(b); Sec 44AB( c) & Sec44AB(d).

• Filling of Direct Tax Returns (Income Tax):-

Income Tax is levied by the Income Tax Department of India, a government institution.In case of direct taxes, entities need to directly pay their                                incomreturns to the IT Department; while in case of Indirect Taxes, an entity collates the tax on behalf of another and pays it to the IT Department.

• Filling of Indirect Tax Returns (GST):-

  Indirect tax is defined as the tax imposed by the government on a taxpayer for goods and services rendered. Unlike direct taxes, indirect tax is not levied on the income, revenue or profit of the taxpayer and can be passed on from one individual to another.

GST is imposed at every point of supply. Also, State GST and Central GST are applicable when intra-state sales take place. However, in the case of inter-state sales, an Integrated GST is applicable.

Also, with GST being more of a technology-driven process, the need for a physical interface has been brought down considerably. An online GST portal which allows registration, GST return filing, application for refund ensure a smooth and transparent GST filing process.

• Here are some of the advantages of GST:-

1. Lower cost of compliance
2. Simplified online process for GST
3. Removal of the cascading effect of tax (tax on tax effect)
4. Improves efficiency in logistics
5. Regulation of the unorganised sector
6. Composition scheme for small businesses
7. Allows a higher number for registration

• With Holding Taxes (TDS):-

Withholding tax is an amount of which deduction takes place directly from the earning of an employee by the employer. It is paid to the government as a part of the tax liability of an individual.
The central Government of India is liable for this tax collection. In India, the Central Government is empowered to levy and collect taxes. Based on the income of the person, the tax is being charged.

• Payroll Compliance:-

Payroll compliance or statutory compliance in India refers to the legal framework which companies or organizations must adhere with regard to the treatment of their workers or employees.
Payroll is just one of several essential aspects when it comes to HR for your small business. However, like many procedures involved in your business operations, payroll in itself is multifaceted.
Overall, payroll means paying your employees—and yet—it also means choosing a payroll schedule, calculating employee checks and taxes, and making sure everything is done accurately and on time. With all of these factors involved in running payroll, it can be easy to glance over your compliance responsibilities, those parts of payroll that are governed by federal and state law.