Services

Transfer Pricing Study: What is it, and what does it do?  A transfer pricing study aims to determine how businesses charge one another for services provided by two or more associated companies. The IRS and other tax authorities examine the transactions using a variety of test procedures to determine if they were carried out under market

What is Transfer Pricing Audit?  India has been developing rapidly recently, making it a popular destination for foreign companies. Having become a popular tourist destination due to liberalization, a growing middle class, and rising employment and wages, India has also become an attractive investment destination. However, there are many tax and regulatory hurdles to overcome

All tax laws beget uncertainties and the chances of different interpretations. Even GST would not be unfettered from such varied interpretations. These differences may ultimately result in a battle between the taxpayers and the department, driving to a surge in the legal proceedings. Goods and service tax is just a beginning. There are many grey

Facing a bitter dispute, discourse, or litigation may be the most challenging times for the organisation. During these tough times, it is crucial to have reliable experts whom you can trust. MAG helps organisations represent a wide range of actions, lawsuits, examinations, and regulatory issues at every level during the assessment and appeal process. At

Certification and attestation services in Delhi, One of the most meticulous & vital services of professional is the issuance of certificates to their clients needed for several purposes under different laws, rules & regulations. Broadly, businesses require certificates based upon nature of the entity, the events being pleased by them under the law, any financial

India has cheap human labour, land, water, electricity in abundance, which lures many foreign companies to establish their place of business in India also. Like other companies operating their businesses in India, foreign companies must comply with some rules and regulations. In this text, we have tried to cover how foreign companies start a business in

There exist multiple modes through which a company can end its existence. One out of them is striking off of its name from the register of company’s names. A company that is not working and wants to remove its name from the registrar’s records may opt for this method. Before going further on this topic,

Everything that you need to know about FC-GPR Recently, the Reserve Bank has rolled out an online application, i.e., FIRMS (Foreign Investment Reporting and Management System). It provides the reporting of the form FC-GPR. FC-GPR stands for Foreign Currency- Gross Provisional Return. To understand and learn more about this form, let’s dive into the filing procedure, the

For a Limited Liability Partnership (LLP), the returns shall be filed regularly for securing compliance and avoid the hefty penalties provided under the law for its non-compliances. An LLP has limited compliances to be ensured every year, which are immensely less as compared to the compliance obligations placed on the private limited companies. However, the

Running of private Limited or a public limited company was used to be a simple procedure under Companies Act, 1956 as enlistment registrar of companies (“ROC”) didn’t use to make any severe move against defaulters, But under new companies Act, 2013 there are stringent reformatory arrangements for resistance and if there is any occurrence of

In India, Limited Liability Partnerships became popular after the enactment of the Limited Liability Partnership Act in the year 2008. Many start-ups and small businesses chose this form of partnership over the traditional form of partnership and company as it offers the advantages of both the partnership and company. The leading edge of an LLP is one

In the dynamic business environment of a bustling metropolis like Delhi, numerous businesses are known as flagship or premium brands in their respective industries. If you are looking to start a new venture that can compete with the industry giants, or expand your business through a new wing, you may be considering registering your business

Any merger or acquisition transaction has to be meticulously designed, planned and executed; therefore, before closing a deal, the buyer conducts specific agreed-upon procedures to evaluate the agreement from commercial, financial, tax and legal standpoints. Due diligence relates to the process of research, investigation, inquiry, study and analysis that is done before an acquisition, investment

Management audits can provide us with the organization with numerous advantages and executive-level supervision. The variations are growing more frequent and more abrupt as the market is getting more dynamic. Thus, it is of utmost importance to periodically evaluate and assess the efficacy, performance, productivity, profitability and competitiveness of the concerned business. Management Audit services

What are Fixed Assets ? Fixed Assets are defined as the assets held to be used to produce or providing goods or services and are not held for sale in the ordinary course of business which is expected to be held in use for more than one accounting period Some of the examples are: Buildings

In general, a Stock audit means physical verification of the inventory/stock. It can involve the valuation of the stock as well, but it usually depends on the scope and terms of the term of the engagement letter of the assignment. When heading forward, it is very crucial to keep in consideration the sole purpose for

Internal Audit is defined as under: “Internal audit provides independent assurance on the effectiveness of the internal controls and risk management processes to enhance governance and achieve organisational objectives.” Internal Audit is an independent function established within an organisation to examine and evaluate its activities as a service to the organisation. It serves the organisation to accomplish

Statutory audit is required to assess whether the company complies with the applicable laws, rules and regulations and standards and whether the financial statements reflect a true and fair view of the financial position of the company. It applies to all the companies registered in India under the erstwhile Companies Act, 1956 and Companies Act,

If you are a taxpayer and turnover of your business or total receipts from any profession exceeds limits as prescribed by The Income Tax Act, in any previous year then, you are obligated to get your books of accounts audited by an Independent Chartered Accountant. The Tax Audit report shall be prepared as per Section 44AB

CMA Report stands for Credit Monitoring Arrangement Report, a report prepared for banks. Businesses are growing rapidly, and banks contribute sizably to this growth. Not everyone has ancestral money, and not every business can fund its expansion through retained earnings. A business needs funding, either by way of equity or debt, at one point or

Introduction The success of the firm depends upon two significant factors. Hiring a quality team is one of the crucial pillars of the company, and at the same time, having an effective system to manage such a great team is another vital factor that plays an important role. Employers are required to maintain the data

Book-keeping is an art of identifying, approving, sorting and record-keeping company’s financial transactions in a manner that they can be retrieved and presented for the higher management reporting. It is the process of recording financial transactions of business daily. It is a part of accounting process that records the financial affairs of the company in

Tax in any country is driven by the residential status of an individual/entity. At the same time, the chargeability of any income is determined by both source and residency rules, varying from country to country. When in a situation where both these rules apply on the same income, double tax arises. Then comes into play DTAA

What forms 15CA and 15CB are all about? If you are alaw-abiding tax paying citizen, you may want to know what form 15CA and CB is. Form 15CA, in relation to tax remittances, is a declaration of remittance and is a tool for collecting information concerning payments in respect of incomes chargeable to tax in the

Meaning of Expatriate or Expat An expatriate is a person provisionally residing and employed in a different country while a remaining citizen of his native land. The taxation of such expat employees requires a slightly modified computation than the tax computed for a routine employee of an Indian organisation. Foreign Expat Working in India: For any foreign

Introduction The Double Tax Avoidance Agreement (DTAA) is fundamentally a bilateral agreement entered into by two countries. The primary motive is to encourage and foster economic trade and investment between two countries by avoidance of double taxation. It has adverse consequences on the trade and services and movement of capital and people. The taxation of

Non-Resident Indian (NRI) is an Indian citizen, migrated to a foreign country. In India, the tax is liable to be paid based on residential status and not on the nationality or domicile of the taxpayer. Due to globalisation, more and more people are relocating to different countries of the world. With the rapid and active growth of

With effect from 1stJuly 2017, GST was launched all over India, except in the state of Jammu & Kashmir. Subsequently, on 8thJuly 2017, Jammu & Kashmir also came under the purview of GST, and the entire nation was brought under a unified indirect tax system. GST applies to all traders, manufacturers and service providers. Various

GST is all about bringing a smooth flow of funds and compliances for ease of doing business in India. To facilitate such a steady stream, the Government must provide for a hassle-free refund processing system. The prevailing tax structure is cumbersome, and it takes months and seldom years to get refunds from the Government. GST

GST Audit at SARKK Our team can deliver following in GST Audit: Monthly comparison of Input Tax Credit between returns and books of accounts Finding mismatch or discrepancies in ITC Consultancy on eligibility, reversals or re-claim of ITC Monthly review of output tax liability Reconciliation of value of supply declared in annual returns with audited

Our strategic Goods and Services Tax (GST) Advisory services focus on our client’s overall tax performance, creating more significant opportunities to measure and gain efficiency, develop a more strategic approach to tax, and deliver prominent shareholder value. Through benchmarking regular performance, knowing best practices about companion and historical performance, and measuring the delta between substance

Introduction Whether your business needs tax registration help, return filing services or a custom-built GST compliance powerhouse that suits your company, Professional Services places the best expertise in your controls. Our team consists of GST domain experts, chartered accountants and lawyers who are dedicated to serving you in every sphere from tax analysis to specific

TCS and TDS are two of the most commonly used words when we talk about taxation. In the field of tax, TDS stands for Tax Deducted at Source while TCS stands for Tax Collected at Source. When they sound almost identical, you must be wondering how they actually differ. Also, when the Government works on

Are you somebody who runs a trust or intends to start one? Are you aware that the Income Tax Law provides you special rebates under sections 12A and 80G? Are you grabbing this opportunity, or you want to, but…don’t know how? The government introduced certain provisions in the Finance Act, 2020, making it compulsory for charitable/religious/educational

Given the tendency of taxpayers to evade taxes, Income Tax provisions provide for the collection of tax from the very source of income. Under this system, the person liable to make the payment (payer) is responsible for deducting tax before making the payment to the recipient at the rates specified by the revenue department. Such

The Section 143(3A) / (3B) / (3C) of Income Tax Act, 1961 vest power in Central Government to make a scheme by notification to assess to impart greater efficiency, transparency and accountability. This Scheme can cover the assessment of Income Tax under Section 143(3) or Section 144 of the Income Tax Act, 1961. Section 143(3A) of the

Income Tax Return services and income tax consultants in delhi. Income tax Return is a form in which a person files information on his income earned during a financial year and its tax thereon to the Income Tax Department. Under Income Tax, a person can be an individual, HUF, Firm or LLP, company, NGO, Society, Trust etc. The

Taxation – An Overview In India, our tax structure is divided into two parts Direct Tax and Indirect Tax. It is very crucial to understand the overview of Direct and Indirect Tax. While direct taxes are levied on incomes earned by individuals and corporate entities, the burden to pay taxes is on the taxpayers themselves. On the other

A corporate tax is a levy on a company’s profit by the government. The money collected in the form of corporate taxes is used as a country’s source of income. A company’s operating income is calculated by deducting expenses, including the cost of goods sold or services procured and depreciation from revenues. Next, applicable tax

Companies dislike the term ‘turnaround consulting’ because it represents failure. The truth is that turnaround consulting represents success.

Bonds and commodities are much more stable than stocks and trades. We allow our clients to invest in the right bonds & commodities.

Audit and assurance is all about meticulous data analysis. Everything needs to be checked, double checked, and triple checked.

This allows us to specialize in all dimensions of trades and stocks, because we have a specialist within the team for every scenario.

We work with our clients and do a deep analysis of their business. We help prepare possible outcomes to different decisions.

This stops companies from taking drastic measures like downsizing or closing down sites; those things happen only with no or bad financial projections.

We allow you to enter international waters without having to worry about making a mistake, as we use our international experience.

Execution is the single most important part of the whole process, poor execution can result in a lot of lost time and money.

Transfer Pricing Study: What is it, and what does it do?  A transfer pricing study aims to determine how businesses charge one another for services provided by two or more associated companies. The IRS and other tax authorities examine the transactions using a variety of test procedures to determine if they were carried out under market

What is Transfer Pricing Audit?  India has been developing rapidly recently, making it a popular destination for foreign companies. Having become a popular tourist destination due to liberalization, a growing middle class, and rising employment and wages, India has also become an attractive investment destination. However, there are many tax and regulatory hurdles to overcome

All tax laws beget uncertainties and the chances of different interpretations. Even GST would not be unfettered from such varied interpretations. These differences may ultimately result in a battle between the taxpayers and the department, driving to a surge in the legal proceedings. Goods and service tax is just a beginning. There are many grey

Facing a bitter dispute, discourse, or litigation may be the most challenging times for the organisation. During these tough times, it is crucial to have reliable experts whom you can trust. MAG helps organisations represent a wide range of actions, lawsuits, examinations, and regulatory issues at every level during the assessment and appeal process. At

Certification and attestation services in Delhi, One of the most meticulous & vital services of professional is the issuance of certificates to their clients needed for several purposes under different laws, rules & regulations. Broadly, businesses require certificates based upon nature of the entity, the events being pleased by them under the law, any financial

India has cheap human labour, land, water, electricity in abundance, which lures many foreign companies to establish their place of business in India also. Like other companies operating their businesses in India, foreign companies must comply with some rules and regulations. In this text, we have tried to cover how foreign companies start a business in

There exist multiple modes through which a company can end its existence. One out of them is striking off of its name from the register of company’s names. A company that is not working and wants to remove its name from the registrar’s records may opt for this method. Before going further on this topic,

Everything that you need to know about FC-GPR Recently, the Reserve Bank has rolled out an online application, i.e., FIRMS (Foreign Investment Reporting and Management System). It provides the reporting of the form FC-GPR. FC-GPR stands for Foreign Currency- Gross Provisional Return. To understand and learn more about this form, let’s dive into the filing procedure, the

For a Limited Liability Partnership (LLP), the returns shall be filed regularly for securing compliance and avoid the hefty penalties provided under the law for its non-compliances. An LLP has limited compliances to be ensured every year, which are immensely less as compared to the compliance obligations placed on the private limited companies. However, the

Running of private Limited or a public limited company was used to be a simple procedure under Companies Act, 1956 as enlistment registrar of companies (“ROC”) didn’t use to make any severe move against defaulters, But under new companies Act, 2013 there are stringent reformatory arrangements for resistance and if there is any occurrence of

In India, Limited Liability Partnerships became popular after the enactment of the Limited Liability Partnership Act in the year 2008. Many start-ups and small businesses chose this form of partnership over the traditional form of partnership and company as it offers the advantages of both the partnership and company. The leading edge of an LLP is one

In the dynamic business environment of a bustling metropolis like Delhi, numerous businesses are known as flagship or premium brands in their respective industries. If you are looking to start a new venture that can compete with the industry giants, or expand your business through a new wing, you may be considering registering your business

Any merger or acquisition transaction has to be meticulously designed, planned and executed; therefore, before closing a deal, the buyer conducts specific agreed-upon procedures to evaluate the agreement from commercial, financial, tax and legal standpoints. Due diligence relates to the process of research, investigation, inquiry, study and analysis that is done before an acquisition, investment

Management audits can provide us with the organization with numerous advantages and executive-level supervision. The variations are growing more frequent and more abrupt as the market is getting more dynamic. Thus, it is of utmost importance to periodically evaluate and assess the efficacy, performance, productivity, profitability and competitiveness of the concerned business. Management Audit services

What are Fixed Assets ? Fixed Assets are defined as the assets held to be used to produce or providing goods or services and are not held for sale in the ordinary course of business which is expected to be held in use for more than one accounting period Some of the examples are: Buildings

In general, a Stock audit means physical verification of the inventory/stock. It can involve the valuation of the stock as well, but it usually depends on the scope and terms of the term of the engagement letter of the assignment. When heading forward, it is very crucial to keep in consideration the sole purpose for

Internal Audit is defined as under: “Internal audit provides independent assurance on the effectiveness of the internal controls and risk management processes to enhance governance and achieve organisational objectives.” Internal Audit is an independent function established within an organisation to examine and evaluate its activities as a service to the organisation. It serves the organisation to accomplish

Statutory audit is required to assess whether the company complies with the applicable laws, rules and regulations and standards and whether the financial statements reflect a true and fair view of the financial position of the company. It applies to all the companies registered in India under the erstwhile Companies Act, 1956 and Companies Act,

If you are a taxpayer and turnover of your business or total receipts from any profession exceeds limits as prescribed by The Income Tax Act, in any previous year then, you are obligated to get your books of accounts audited by an Independent Chartered Accountant. The Tax Audit report shall be prepared as per Section 44AB

CMA Report stands for Credit Monitoring Arrangement Report, a report prepared for banks. Businesses are growing rapidly, and banks contribute sizably to this growth. Not everyone has ancestral money, and not every business can fund its expansion through retained earnings. A business needs funding, either by way of equity or debt, at one point or

Introduction The success of the firm depends upon two significant factors. Hiring a quality team is one of the crucial pillars of the company, and at the same time, having an effective system to manage such a great team is another vital factor that plays an important role. Employers are required to maintain the data

Book-keeping is an art of identifying, approving, sorting and record-keeping company’s financial transactions in a manner that they can be retrieved and presented for the higher management reporting. It is the process of recording financial transactions of business daily. It is a part of accounting process that records the financial affairs of the company in

Tax in any country is driven by the residential status of an individual/entity. At the same time, the chargeability of any income is determined by both source and residency rules, varying from country to country. When in a situation where both these rules apply on the same income, double tax arises. Then comes into play DTAA

What forms 15CA and 15CB are all about? If you are alaw-abiding tax paying citizen, you may want to know what form 15CA and CB is. Form 15CA, in relation to tax remittances, is a declaration of remittance and is a tool for collecting information concerning payments in respect of incomes chargeable to tax in the

Meaning of Expatriate or Expat An expatriate is a person provisionally residing and employed in a different country while a remaining citizen of his native land. The taxation of such expat employees requires a slightly modified computation than the tax computed for a routine employee of an Indian organisation. Foreign Expat Working in India: For any foreign

Introduction The Double Tax Avoidance Agreement (DTAA) is fundamentally a bilateral agreement entered into by two countries. The primary motive is to encourage and foster economic trade and investment between two countries by avoidance of double taxation. It has adverse consequences on the trade and services and movement of capital and people. The taxation of

Non-Resident Indian (NRI) is an Indian citizen, migrated to a foreign country. In India, the tax is liable to be paid based on residential status and not on the nationality or domicile of the taxpayer. Due to globalisation, more and more people are relocating to different countries of the world. With the rapid and active growth of

With effect from 1stJuly 2017, GST was launched all over India, except in the state of Jammu & Kashmir. Subsequently, on 8thJuly 2017, Jammu & Kashmir also came under the purview of GST, and the entire nation was brought under a unified indirect tax system. GST applies to all traders, manufacturers and service providers. Various

GST is all about bringing a smooth flow of funds and compliances for ease of doing business in India. To facilitate such a steady stream, the Government must provide for a hassle-free refund processing system. The prevailing tax structure is cumbersome, and it takes months and seldom years to get refunds from the Government. GST

GST Audit at SARKK Our team can deliver following in GST Audit: Monthly comparison of Input Tax Credit between returns and books of accounts Finding mismatch or discrepancies in ITC Consultancy on eligibility, reversals or re-claim of ITC Monthly review of output tax liability Reconciliation of value of supply declared in annual returns with audited

Our strategic Goods and Services Tax (GST) Advisory services focus on our client’s overall tax performance, creating more significant opportunities to measure and gain efficiency, develop a more strategic approach to tax, and deliver prominent shareholder value. Through benchmarking regular performance, knowing best practices about companion and historical performance, and measuring the delta between substance

Introduction Whether your business needs tax registration help, return filing services or a custom-built GST compliance powerhouse that suits your company, Professional Services places the best expertise in your controls. Our team consists of GST domain experts, chartered accountants and lawyers who are dedicated to serving you in every sphere from tax analysis to specific

TCS and TDS are two of the most commonly used words when we talk about taxation. In the field of tax, TDS stands for Tax Deducted at Source while TCS stands for Tax Collected at Source. When they sound almost identical, you must be wondering how they actually differ. Also, when the Government works on

Are you somebody who runs a trust or intends to start one? Are you aware that the Income Tax Law provides you special rebates under sections 12A and 80G? Are you grabbing this opportunity, or you want to, but…don’t know how? The government introduced certain provisions in the Finance Act, 2020, making it compulsory for charitable/religious/educational

Given the tendency of taxpayers to evade taxes, Income Tax provisions provide for the collection of tax from the very source of income. Under this system, the person liable to make the payment (payer) is responsible for deducting tax before making the payment to the recipient at the rates specified by the revenue department. Such

The Section 143(3A) / (3B) / (3C) of Income Tax Act, 1961 vest power in Central Government to make a scheme by notification to assess to impart greater efficiency, transparency and accountability. This Scheme can cover the assessment of Income Tax under Section 143(3) or Section 144 of the Income Tax Act, 1961. Section 143(3A) of the

Income Tax Return services and income tax consultants in delhi. Income tax Return is a form in which a person files information on his income earned during a financial year and its tax thereon to the Income Tax Department. Under Income Tax, a person can be an individual, HUF, Firm or LLP, company, NGO, Society, Trust etc. The

Taxation – An Overview In India, our tax structure is divided into two parts Direct Tax and Indirect Tax. It is very crucial to understand the overview of Direct and Indirect Tax. While direct taxes are levied on incomes earned by individuals and corporate entities, the burden to pay taxes is on the taxpayers themselves. On the other

A corporate tax is a levy on a company’s profit by the government. The money collected in the form of corporate taxes is used as a country’s source of income. A company’s operating income is calculated by deducting expenses, including the cost of goods sold or services procured and depreciation from revenues. Next, applicable tax

Companies dislike the term ‘turnaround consulting’ because it represents failure. The truth is that turnaround consulting represents success.

Bonds and commodities are much more stable than stocks and trades. We allow our clients to invest in the right bonds & commodities.

Audit and assurance is all about meticulous data analysis. Everything needs to be checked, double checked, and triple checked.

This allows us to specialize in all dimensions of trades and stocks, because we have a specialist within the team for every scenario.

We work with our clients and do a deep analysis of their business. We help prepare possible outcomes to different decisions.

This stops companies from taking drastic measures like downsizing or closing down sites; those things happen only with no or bad financial projections.

We allow you to enter international waters without having to worry about making a mistake, as we use our international experience.

Execution is the single most important part of the whole process, poor execution can result in a lot of lost time and money.