Taxation Services

With so much complexities in the taxation system in India, being updated with the latest tax laws is a challenge which is faced by many organisations. Focus on core competencies is a key growth driver for many organisations. As a result, outsourcing of tax related functions enables an organisation to direct its efforts to its core activities & at the same time get benefit of expert knowledge of taxation professionals. Thus, taxation as a practice area assumes significant importance. We offer services related to both Direct Taxes as well as Indirect Taxes. With the roll out of a full-fledged GST (Goods & Services Tax) looking increasingly likely, we, at V.V.Kale & Co., are seeing this as an opportunity & are gearing ourselves to offer all services relating to GST under one roof.

  • Consultancy Services

  • In any consultancy service that we render, the client is the starting point of the service delivery chain. We begin by obtaining a crystal clarity of the exact problem/requirement of our clients. Based on the same, we help our clients to understand the tax implications of various transactions that they propose to enter into & help them structure their transactions so as to reduce the tax consequences while adhering to the legal requirements at the same time. We offer consultancy services related to the following areas:

    • Taxation of non-residents in light of the Double Taxation Avoidance Agreements (DTAA’s)
    • Service Tax & other Indirect Taxes
    • Personal Taxation including tax implications on expatriates working in India
    • Corporate Taxation
  • Transfer Pricing

  • With the integration of the Indian economy with the global economy, the participation of global MNC’s in India has been on the rise. The tax department has been quick to introduce transfer pricing provisions to check the pricing of transactions between the foreign companies & their counterparts in India. As a legal requirement in India, Transfer Pricing assumes great significance more so considering the level of litigation in this area. We offer the following services in this respect:

    • Preparation of robust documentation to support the pricing of transactions between the associated enterprises
    • Filing of statutory required forms with the tax authorities
    • Assistance in determination of transfer prices for proposed transactions between associated enterprises
  • Filing Of Tax Related Returns/Forms

  • There are a lot of tax related returns/forms, which are required to be filed by an entity operating in India, the failure to file which can result in stringent penalties. Among others, we prepare & file the following tax related returns/forms for our clients:

    • Income Tax Return
    • Service Tax Return
    • VAT (Value added tax) return
    • Withholding tax (TDS) returns
    • Preparation & filing of FORM 15CA & 15CB which are mandatory for remitting funds to non-residents
    • Tax Audit reports
    • FORM-3CEB
  • Representation Before The Tax Authorities

  • In case of tax litigations, we help our clients to present their case before the tax authorities in an effective manner.

  • Other Value Added-Services:

    • Obtaining Permanent Account Number (PAN) for our clients which is a mandatory requirement to operate in India
    • Obtaining Tax deduction account number (TAN) for our clients which is a mandatory requirement in case the payments are liable to withholding tax requirements.

Secretarial Services

We, at V.V.Kale & Co., have a dedicated Corporate Secretary department for rendering secretarial services. Through our experienced & professional corporate secretaries, we render quality secretarial services. The services rendered by us under this practice area include:

  • Incorporation Services

    We help companies (especially foreign companies) to set-up their businesses in India. These businesses could be of the following forms

    • Branch Office
    • object Office
    • Liaison Office
    • Company under the Companies Act, 2013
    • Any other form of business

    These incorporation services essentially include a whole gamut of secretarial services including but not limited to making application to the relevant authorities to seek approval of name, checking whether the activity for which the business is to be set is allowed in terms of the Foreign Direct Investment Policy of India, preparation & filing of required statutory forms etc. Over the past few years, we have helped more than 100 foreign companies from different countries namely Spain, U.S.A, UK, France, MENA region to set up businesses in India.

  • Routine Secretarial Services

    As a part of our routine secretarial services, we offer the following services to our clients:

    • Filing of Annual Returns with the Ministry of Corporate Affairs (MCA)
    • Filing of returns with the Reserve Bank of India (RBI)
    • Drafting of minutes of Board Meetings, Annual General Meeting, preparation of Board resolution etc
    • Preparation & filing of required documents with the Reserve Bank of India at the time of receipt of inward remittance by our clients.
    • Replying to queries raised by the Ministry of Corporate Affairs (MCA) & the Reserve Bank of India from time to time
    • Applying to the Ministry of Corporate Affairs (MCA) for obtaining Director Identification Number (DIN)
    • Preparation & filing of statutory forms under the Companies Act, 2013 in case of following events:
      • Appointment/ removal of directors
      • Appointment of auditors
      • Alteration of share capital, registered office etc
      • Other Forms

Auditing

We, at V.V.Kale & Co., perform our audit engagements to the highest quality standards, adhering to the Standards on Auditing (SA’s) issued by the Institute of Chartered Accountants of India (ICAI) & complying with the relevant ethical requirements w.r.t confidentiality, technical expertise etc. We render Statutory Audit Services, Tax Audit Services as well as Internal Audit services. We have also successfully carried out the bank audits of some of the large banks of India.

Our clients, to whom we render auditing services, operate in different industries such as:

  • Infrastructure
  • Engineering
  • Agriproducts Manufacturing
  • FMCG Manufacturing
  • Welding Industry
  • IT enabled Services (ITeS)
  • Abrasives & Grinding wheels
  • Poultry & Poultry related services including vaccination
  • Shipping Logistics
  • Apparel
  • Footwear & Rubber
  • Travel Industry
  • Artificial Jewellery
  • Architecture
  • Trading
  • Automotive components

Apart from clients engaged in the above industries/sectors, we also render audit services to various trusts & other similar organisations who work for the benefit of the society.

Other Value Added Services

Among others, we render the following value added services:

  • Accounts Outsourcing

    Just like taxation, accounting is also outsourced by organisations to focus on their core activities. Over the years accounting has evolved from basic book keeping & now includes other activities such as preparation of management required reports. For this purpose, we have a separate accounts department in our firm. We prepare financial reports while adhering to the Indian GAAPs to ensure that the financial reports are legally compliant. The roadmap for implementation of IFRS based Ind-AS (Indian Accounting Standards) has been laid by the Ministry of Corporate Affairs (MCA). We, at V.V.Kale & Co, are gearing to grab this exciting professional opportunity & help organisations to successfully implement Ind-AS.

  • XBRL (Extensible Business Reporting Language) Report Generation:

    Several companies in India are required to file their financials with the Registrar of Companies (ROC) in the XBRL format. We help our clients to comply with this requirement.

  • Valuation:

    Valuation is an important area, which requires a high degree of expertise & accuracy to ensure that the correct business decisions are made. We, at V.V.Kale & Co., have valued shares of companies operating in different industries using internationally accepted valuation methodology. We offer valuation services in the following areas:

    • Valuation of net worth of companies
    • Valuation exercise at the request of the court for settlement of dispute
    • Valuation of shares for different purposes
  • Payroll Processing:
    As a value added service, we help our clients by managing their payroll function. While processing payroll’s on behalf of our clients, we:
    • Prepare months payroll slips
    • Determine contributions to be made towards social security benefits
    • Ensure compliance with withholding tax requirements on the salary disbursals by undertaking an analysis of the tax obligation of the employees of our clients
  • Other services such as setting up of gratuity trust, pension scheme etc

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