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Business Process Solution

Businesses today are facing a rapidly evolving landscape such as regulatory and technology changes.

Businesses are looking for:

  • Visibility, transparency, and control of their critical business processes Flexibility to manage their mix of in-house and external resources.

  • Improvement of their financial framework without the introduction of significant risk.

  • Insights into their business processes that can be used for strategic decision making.

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Makhija & Co. can serve as a ‘one-stop-solution’ for all your business support needs by assisting in all support activities from accounting to the administration of finances and personnel. This comprises of:

  • Review of statutory compliances undertaken by organization and issuance of report on timeliness of compliances

  • Preparation of standard operating procedures (“SOP”) which shall be in synch with overall group’s policies

  • Performing check-ups around various compliances mandated by SOPs of organization and identifying gaps

  • Special purpose appointments such as deliberating on selection of accounting packages, switch over of accounting packages to align with parent company’s accounting packages

  • Preparation and implementation of internal control systems

  • General ledger and accounting

  • Bank and cash accounting

  • Accounts payable and receivable management

  • Withholding tax (WHT) & GST compliances

  • Fixed Assets record maintenance

  • Monthly and annual reporting to management

  • Payroll Processing

  • Labour law compliances such as Profession Tax/ PF/ ESIC

  • Need based deputation of Staff (loan staffing)

Direct Taxation

Proactively advising clients with respect to taking benefits of availing benefits, exemptions, reliefs, rebates and deductions to minimize the incidence of tax

  • Preparation and filing of Income tax returns for companies and other entities.

  • Conducting tax audits under Income Tax Act.

  • Advice regarding tax withholding compliances as per Income Tax Act to clients and providing assistance in implementing the same

  • Calculating, payment and filing TDS returns

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  • Computation of Advance Tax liability and payment thereof as per income tax Act

  • Assistance in obtaining various certificates from the Income Tax Authorities as required by statue. Taking proactive measures to for obtaining lower deducting certificate from department wherever required

  • Application for obtaining trust status for claiming trust exemptions

  • Analysis of Double Taxation Avoidance Agreements of various countries and advising on tax implications of the same

  • Obtaining refunds

  • Regular reminders for payment of taxes and filing of returns and forms

Transfer Pricing

Businesses today are facing a rapidly evolving landscape such as regulatory and technology changes.

Businesses are looking for:

  • Compliance with statutory framework including filing accountants report in Form 3CEB and guiding clients for necessary documentation as per Indian transfer pricing regulations

  • Performing business process analysis including, comprehending the process-flow of the business and articulating the functions performed, assets utilized and risks assumed (FAR analysis) by the Group entities and characterizing the entity

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  • Undertaking Country by Country report and Master file related compliances

  • Undertaking transfer pricing due diligence and assisting clients in determining possible tax outflow at the time of merger

  • Advising clients on arm’s length compensation on proposed various intercompany transactions with related parties including financial transaction such as loan, financial guarantee, performance guarantee, etc.

  • Review of supply chain of the international group and analyzing the transfer pricing policy pertaining to various intercompany transactions including intangibles and advising on potential risk areas along with remedy to mitigate the risk or suitable restructuring methodology

  • Conducting comparable search on Indian databases

  • Preparing transfer pricing documentation after taking into account Indian transfer pricing regulations and OECD TP guidelines

  • Preparing transfer pricing documentation of foreign counter parts as per transfer pricing regulations prevailing in respective country

  • Advising client on business modelling, holding structures, pricing policy and markup, and consideration of Tax Authoritiesg

  • Preparation and filing of unilateral APA applications, negotiating APA and assistance in concluding APA

Indirect taxation

Businesses today are facing a rapidly evolving landscape such as regulatory and technology changes.

Businesses are looking for:

  • Understanding the business structure and the product of the client. Analyzing the transaction so as advice on applicability of GST, classification of the product, its proper valuations, and the place of business

  • Analysis of input goods/service and capital goods/service for the purpose of availing the Input Tax Credit and utilization of the same so as to maximize the benefit of flow of credit

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  • Providing advisory service on applicability of GST under Reverse Charge Mechanism. So as to avoid any uncertain future liabilities

  • Preparation and assistance in preparation of GST returns and filing of the same as per GST Act

  • Filing the refund application and expediting the refund process

  • Representing the case before indirect tax authorities including anti-evasion divisions and audits initiated by indirect tax authorities

  • Assistance in filing letter of undertaking in case of export sale/services

  • Providing assistance in taxation in case of OIDAR services

Audit and Assurance

  • Carry out statutory auditing of Indian Companies in compliance with the Indian Corporate laws

  • Conducting audits and certifying the financial statements of persons engaged in Business / Profession, Co-operative societies and Charitable or religious trusts

  • Performing special audits/reviews in accordance with the request of the entity which includes management/operational audit, fixed assets audit, stock audit, debtors’ audit, creditors’ audit, limited review assignments

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  • Performing internal audit to review internal control system of the organization

  • Performing concurrent bank audits

  • Performing SOP audits

  • Organization health check for finding difference with respect to applicability of direct/indirect taxation and accounting system

Litigation Support

Representing or consultancy in representation before assessing authorities for expeditious and timely completion of assessments

  • Filing of appeal at various forums such as DRP, CIT (A), ITAT, High Court and Supreme court

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Accounting consultancy

Maintenance of books of accounts, providing various MIS reports to management which aids in real time decision making

  • Providing in house support/assistance for accounting, do review of work done by employees so as to avoid last stage rumpled and inaccuracy in work which may cause to huge interest, penalties and loss of tax credits

  • Installation/migration of numerous type of accounting packages for new/already established organizations

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  • Providing monthly/quarterly draft financial statement which may help in tax workings, achieving income targets and cap on expenses

  • Providing year end support in closing of books of accounts

Mergers, Amalgamations and Re-structuring of Business

Compliance of the Law of the land in word and spirit is paramount, and accordingly, our advice to managements in formulating and implementing restructuring strategies to be in compliance with the framework of the law, and at the same time to the satisfaction of the shareholders, creditors and other stakeholders is a precursor.

Our Services include:

  • Amalgamations / Mergers / Demerger of the entities

  • Performing Due diligence

  • Documentation for Reduction of Share Capital

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  • Buy-back of Share Capital

  • Liquidation / Winding-up of Companies

  • Documentation and representation services before the Tribunal and other Statutory Authorities concerned for all the above

  • Undertaking post M&A compliances

Corporate Law

Formation of Indian and offshore Companies/LLP’s, Setting up Liaison Offices, Branch Offices and Project Offices

  • Advising on various matters under the Companies Act, including appearance before the Company Law Board

  • Assistance in company /LLPs in conversions, winding up, etc.

  • Preparation and filing of statutory returns, forms, etc.

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  • Preparation of various documentation related to minutes and resolutions

  • Maintenance of statutory books such as assets register, shareholder register, etc

  • General advice on company law issues

  • Assistance in incorporation of Company which includes obtaining the name approval, drafting of the Memorandum and Articles of Association of the Company, liaising with the Registrar of Company for obtaining the Certificate of Incorporation etc.

Drafting of Legal Documents

  • Joint venture agreement

  • Joint development agreement

  • Share purchase agreement

  • Privacy and disclosure agreement

  • Memorandum of understanding

  • Family settlement and agreement deed

  • Gift deeds

  • Partnership agreement

  • Trust deed

  • Individual will

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Other financial services

  • Identifying and extracting the benefits of international trade provided by DGFT for exporters.

  • Preparation of Future projections which supports in financial requirement.

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