J M AGRAWAL & CO.

Auditing

An annual audit event is more than a statutory obligation. It is also an opportunity to provide you with updated insight into your business and insight that could identify potential threats or opportunities that can factor into your plans. We make thoughtful recommendations allowing you to better manage your business. Audit quality is of fundamental importance for maintaining trust in the financial reporting process, in the integrity of financial information. The experience of audit teams, covering many industries and service sectors, enables them to focus on key areas of risk, adequacy of internal controls and potential areas of fraud and compliances.

All our audits begin with a full assessment and understanding of the client’s business and operations. This allows us to provide constructive suggestions for improving financial strategies, management information and controls. Our examinations are based on statutory requirements and recommended auditing practices and our procedures comply with the international standards on auditing.

Internal auditing is a profession and activity involved in advising organizations regarding how to better achieve their objectives. We provide businesses with risk management advice and support, drawing on the resources, expertise and experience.

Other compliance and attest functions that we provide are Compliance Forms and annual returns under The Companies Act (Registrar of Companies). Certificates required under RBI/FEMA Procedures and Regulations.

Indirect taxes

Indirect taxes pervade almost every area of a business. Planning and Assessing Tax impact on the material, product costs, cash flow and profitability is of key importance that helps to stay ahead in competition. Indirect taxes have a direct bearing on the costs, pricing policy, cash flow, profitability and ultimately on shareholders' value which shows the competitiveness of an organisation. Hence it becomes critical to evaluate the impact of various indirect taxes on any given transaction.

We provides comprehensive advice and assistance on various indirect taxes such as customs duties, Goods and Services Tax(GST). We carry out impact assessment studies of the GST on businesses and advise companies on the resultant changes in business models, supply chains, pricing and other optimisation opportunities.

Direct Taxes

Business decisions are backed by proper advice related to tax matters. In today's dynamic environment, corporate entities have realized the importance of taxation and its associated cost with efforts to reduce the tax incidence to enable them to provide the much-needed edge over competitors and meet challenges in global business environments. 

Tax advisory forms an integral part of the commercially viable business decisions, minimizing the cost burden. We adopt a "value addition approach" which is flexible and emphasizes delivery and value. The tax authorities keep abreast with the growing complexities and sophistication of business transactions and have increased the compliance burden with the advent of technological advancements in the last few years. Our team offers solutions involving efficient use of technology in a timely and effective manner, in order to help our clients, keep themselves in tune with the frequently changing compliances. We also help our clients to meet the challenges of today's complex business environment, by keeping a tab on the changes in tax environment. 

Our services includes tax planning, scrutiny & litigation, compliance, structuring of transactions, etc. to Corporate, Institutions, Individuals, HNIs etc.

 

IndAS/ IFRS Reporting and GAAP Conversion

Globalization has spurred an unprecedented surge of cross-border M&A over the past few decades and companies around the world consider cross -border M&A as a strategy in achieving globalization of their businesses. Such cross-border M&A often requires US GAAP or IFRS conversion of local GAAP financial information for various reporting purposes.

As business is moving towards globalisation, more and more countries around the world is adopting IFRS. Companies reporting in these countries have changed their reporting standards, making it necessary for their subsidiary or branch operations (in other countries as well) to convert to IFRS.

India has adopted IndAS (similar to IFRS), and now all listed companies and companies with Net-worth of more than INR 250 crore, including banking companies and NBFCs are following IndAS. Also ICAI is in process of revising old GAAP (i.e. old accounting standards) and making it more in line with the Global accounting standards.

We provide these GAAP conversion services, thus relieving Management from the hurdles faced in global dealings and facilitate comparison of the Financial Statements.

Book-keeping and Accounting

It is difficult to make sound business decisions without having timely, reliable and meaningful financial data. We can boost business success by making accounting systems work harder for the management on daily basis.

Quite a large number of businesses may not have access to the service of book keeping, whether it is due to shortage of resources or any other reason. Accounting records and book keeping are vital issues for all types of businesses to enable its owners, directors or management to be aware of all transactions conducted by the business and to be able to measure the degree of success of the business as a whole or of a particular aspect of it. In addition, maintaining adequate accounting records is essential for tax and compliance purposes.

Along with accounting we provide payroll processing services to clients. It seeks to ensure employers are ahead of the potential minefield of statutory requirements around the world and its employment experts are backed by tax and accounting specialists covering a wide range of employment issues. Confidentiality is ensured as staff records are held off-site and payroll details are only disclosed to designated personnel.

Services are tailored to meet client’s requirements all around the world. The right management decisions can then be made – whether the business perspective is global or local in nature.

 

We understand that the finance is the backbone of business activity. We strive to achieve best possible finance solutions to any organization. We offer a complete range of financial solutions to our clients including debt and equity funding, financial restructuring, stressed assets management etc. We possess a team of experts including qualified consultants who ensure to provide most feasible solution to our clients financial hitches.

Dedicated Team for Startups

• Guidance on a suitable form of entity
• Registration with various government authorities such as ROC, StartupIndia, GST, etc
• Setting up accounting and compliance system
• Ongoing periodical compliances
• Guidance on equity structure
• Business Valuation from Merchant Bankers

General queries that are asked by a Startup

• What should be the type of company we should register?
• Whether LLP or Pvt. Ltd or One Person Company?
• Do we need to have GST registration?
• Which bank account should we prefer?
• Do we need to have shares?
• Can employed people float a company?
• Can I have a company registered in family members account?
• What are the compliances to be followed on regular basis?
• How easy it is to close a company?
• Should we hire employees or should we go for contractors?
• What all expenses can we claim for Tax benefit?
• Are there govt schemes that can benefit our start-ups?