Services Offered

Audit & Assurances

This audit is essential to regulate whether business entity is abiding by the rules and regulations. It consists of supervising as to whether the personnel are abiding by the rules prescribed by the organisation. This includes inspecting legal documents related to banks and other lenders in agreement with central bank and stock exchange directives or government directives. Essentially, the outcome of such audits is communicated to particular individuals and the higher authority who sought clarity in the matter at hand.

Banks (both public and governed under Banking Regulation Act), asset management firms, finance institutes and insurance organisations utilise the internal audit approach. Concurrent Audit is much the same as Internal Audit and is carried out at regular intervals. This is done to supervise the effectiveness in standard operations with statutory proclamations from time to time. Concurrent Audit usually acts as an appendage to the internal audit team, and assists it on a regular basis with factual findings.

Tax Audit is required u/s 44AB of the income tax act, 1961.Thsi section mandates that every person whose business turnover exceeds limit specified by ITD from time to time have their accounts audited by an independent chartered accountant. The Tax audit report is to be obtained within statutory due date after the end of previous fiscal year. Non compliance attracts interest & penalty.

Internal audit is conducted by the own management of the company. We can say internal audit is a preparation for other independent audits. But the main intention of internal audit is to check the status of finance and operational efficiency of the company. This audit can be conducted by an independent party or by a company’s own staff. The report of internal audit is to be submitted to management. This kind of audit is specifically designed to enhance a firms functioning. It assists an institution in achieving its goals by ushering a methodical system to inspect and better the efficiency of risk evaluation and management. It has a widened scope within an organisation and may incorporate spheres like effective functioning, accuracy of financial collaterals, inspecting and discouraging frauds, protecting assets, and productive usage of the company resources that is in agreement with the organisation's rules.

Statutory audits are conducted in order to report the state of a company’s finance and accounts to the government. The audit report of statutory audit is made in the form prescribed by the government agency. This audit is to be calculated by a qualified and independent auditor. The monetary statements of a firm for a given period of time are to be looked after by the external auditor. The role of the statutory auditor here is to report all the current affairs of the company. It is a crucial tool for stakeholders to gauge the substantiality of the firm with regard to their proceedings.

Financial institutions are expanding their credit to entities based on their stocks or book debts. This could either be done on the basis of overdraft, cash credit limit, etc. It then becomes crucial to have checks at regular intervals to establish the status of current assets, accurate attestation for statutory compliances and debt turnover scrutiny.

This kind of audit helps companies gain a non-discriminatory evaluation of the company’s program performance. We employ personalised and constructive review methods in order to gain an understanding of how to achieve outstanding performance results. Other advantages include a clear insight into the areas that require improvement and enhancing overall performance of the organisation.

This audit covers a periodic analysis of the administrative functions. It is done to ensure effectiveness of control, protection of asset of the business, and productive use of resources in agreement with the business procedures and policies.

A financial statement audit is conducted to determine whether the overall financial statements are stated in accordance with specified criteria such as Indian Accounting Standard (IAS) or GAAP (Generally Accepted Accounting Principles - is a collection of commonly-followed accounting rules and standards for financial reporting), International Financial Reporting Standards ( IFRS - is a set of accounting standards developed by an independent, not-for-profit organization called the International Accounting Standards Board (IASB). It becomes difficult for auditors to only concentrate on accounting affairs when the complexity in a business rises. We apply a holistic technique which involves a deep knowledge of the business that gradually inflate audit efficacy. We employ a risk based audit technique that is in complete agreement with the ISAs. Our technique is based on cycles and includes:

Follow up Audits: This is primarily regulated after the internal or external report has been submitted which is roughly after a period of 6 months. They are essentially created to plan corrective measures to be undertaken on the audit reports. The outcome of this may then be conveyed to the external auditors.

Integrated Audit: This involves an amalgamation of Application Controls Review, Department Review and Operational Unit. This kind of examination provides an in-depth understanding of a functional operation within an institution.

Investigative audit: This audit is conducted when suspicious actions are observed on the behalf of a company, a person or at times of a loss in business. Investigative Audit surpasses standard procedures. This endeavour necessitates analytical methods, interrogating ability and monetary data reconstruction.

Management Audit: Major decisions regarding crucial business undertakings are taken by the highest authorities in the organisation. However, after a period of time, it is necessary to conduct an evaluation of their proficiency by an independent agency. This maintains optimum independence in analysing the concerned individuals’ skills and capabilities in managing his area of operations. These audits require and mandate that a person has great inert-personal skills and maturity level.

Operational Audit: An Operational Audit is conducted to examine the effectiveness of any organisation. At the end of such an audit, recommendations are suggested for enhancing business productivity. It can be conducted in various spheres. This can range from inspecting the proficiency of payroll transactions to the more complicated procedure of courier service. We can help you increase your functional proficiency with our operational audits designed to suit your specific needs.

Payroll Audit: Salaries & Wages are always major overheads in an organisation and requires for analytical examinations. Different frameworks are taken into consideration while regulating a Payroll Audit; such as authentication details of employees, updated information about the personnel, time worked and salary scale of employees, etc. Additionally, an introspection of the amount to be reimbursed is also a major criterion that falls under payroll audit.

System Audit: System means collection or unification of activities, instruments, material, and people to achieve a specific goal. For e.g. Information system is collection of hardware and software acting together to serve a common purpose of providing information. When we talk about a system audit we most specifically refer to management system audit. A system audit is an audit of system/subsystem against system requirement. The main purpose of this audit is to check whether the system/subsystem is working according to the prescribed requirement or not.

This involves helping a business institution enhance their performance, by analyzing the current problems and creating a strategy for development. Organizations may require the services of management consultants for varied reasons. This may include procuring external guidance as well as gaining insight into the consultants’ proficiency. Because of their exposure to and relationships with numerous organizations, our team is aware of the “best practices”, of the industry. However, interchangeability of such practices from one institution to another may be limited by the precise nature of the situation under consideration.

Business plans may target changes in perception and branding by the customer, client, taxpayer, or larger community. When the existing business is to assume a major change or when planning a new venture, a 3 to 5 year business plan is required, since investors will look for their investment return in that timeframe. Every planning process goes through a series of stages. Essentially, the aim is to analyse the external environment, internal environment, setting corporate goals and formulation of strategies. We assist our clients in planning the entire business in general or a separate segment in particular. Effective business planning helps in appraising the current position of operations, which further help in determining the direction of the firm.

This service is helpful to relieve your business house of the task of hiring and retaining an in-house staff. Additionally, we offer services that cater to bookkeeping, year-end financial reporting, consolidation and management accounting. Moreover, we aid with invoicing of sales, receivable accounts, administration of payroll and suppliers’ ledger management. Our services are flexible, and we quickly adapt to our client’s needs.

A business plan is essential to run and grow a business. A well thought out business strategy is beneficial to raise capital for a new venture. Moreover, it assists is sanctioning of equity funding, loan capital or even trade capital for an ongoing enterprise. We help you create a concrete plan that will display your business capacity and stand the dissection of your audience. We add lot of worth to the process of corporate strategy preparation through a bilateral approach that includes our clients. Additionally, it allows for an assessment of the existing or intended position of the firm and the setting in which it operates. Such an approach enables the company to develop a range of strategic options designed to achieve its objectives. We place particular emphasis on the strategic review, marketing, and operational aspects in the preparation of the business plan.

A proficient evaluation requires the knowledge of an expert who is well acquainted with the assessment procedure as well as its application. Where on one hand the theoretical propositions tend to be the same for different types of companies, the process with which they are implemented differs largely. In the same manner, the objective of the assessment can affect the modus operandi, level of merit and other such constituents. We impart an impartial outlook that is based on sound rationale and credible premises.

It is an investigation or audit of a potential investment or product to confirm all facts, such as reviewing all financial records, plus anything else deemed material. It refers to the care a reasonable person should take before entering into an agreement or a financial transaction with another party. It is used to inspect and analyse a business possibility. The term implies a universal responsibility to exercise vigilance in the firm’s proceedings. It looks into the past, present as well as the probable future of the enterprise. We offer an in-depth due diligence assistance to firms preliminary to any investments. Our approach involves professionalism, creativity and an all-inclusive concept. We work towards utmost transparency and offer our clients succinct yet an all-encompassing service.

The term Corporate Restructuring is used to imply significant changes within a company that usually affect basic business practices, major decisions or how certain parts of its business plan are approached. We help our clients to take a systematic approach towards their restructuring as well as their future policies and advise them in substantiating their decisions on a sound strategic rationale and principles of value creation. This procedure equips our clients with a connected as well as an organised approach to attain their defined targets. Additionally, this assists them with an enhanced and sound strategy as well as an increased shareholder value.

We can provide comprehensive SOPs according to customer specifications, Industry standards, various regulations, etc. SOPs can be implemented in diverse sectors like payroll, production, quality testing, etc. Our SOP development procedure concerns the composition of a development plan in agreement with the client interest and the creation of process maps. It greatly benefits the firm in eliminating the current thought process and reach sizeable competence.

Strategic control is a term used to describe the process used by organizations to control the formation and execution of strategic plans; it is a specialized form of management control, and differs from other forms of management control inspects of its need to handle uncertainty and ambiguity at various points in the control process.

Start-Up Business Services (SUBS) is a collaborative approach to business advice, services, and support for start-ups and small businesses.

Income Tax Compliance

Direct Taxation:

Direct Tax Consultancy together with innovative tax efficient strategies, provided by us form an integral part of viable business decisions. These help our clients attain the desired goals. We adopt a “result oriented approach” which is flexible and emphasizes delivery and value. It enhances the effect of commercially viable decisions and minimizes the tax burden. Direct Tax is the tax that is paid directly to the government by the persons on whom it is imposed. It cannot be shifted onto others. The best examples of direct taxes are income tax and property tax. Direct tax is often accompanied by a tax return filing by the taxpayer.

Advise on major developments in taxation regimes occurring periodically and their effect on business. We also provide the effective processes to improve your day-to-day reporting thereby reducing attribution errors, reducing costs and ensuring your taxes are handled correctly.

Under Direct Taxation we provide tax consultancy services in the following areas:

  • Direct Tax Services
  • Double Taxation Avoidance Agreements
  • International Taxation
  • Tax consultancy services for Corporate Clients: With complete functional know how of ERP undertake Direct Tax services for corporate clients. Our tax services for corporate clients include: Day-to-day tax matters that include replying to various tax notices and providing necessary tax support on regular tax matters, TDS compliance and filing of returns, Compilation of tax details for audit and support to the auditors. We provide support in the areas of PAN, TAN and online tax credits view also. Compilation of Various details for Tax Assessment purposes such as Scrutiny and Appellate level for Income tax.
  • Personal Tax consultancy services: We offer personal taxation consultancy services like personal tax planning, personal tax consultancy services, tax compliance and advisory services that cover the following:
    * Personal Tax Consulting.
    * Personal Tax Services Compliances that includes compiling and filing of Tax returns.
    * We provide review and assistance in advance tax computations.
    * Representation before the Tax authorities related to tax assessments, refunds or other matters.
    * We guide in getting various tax registrations that includes Permanent Account Number (PAN).
    * Management of tax records in Soft and Hard forms.
    * Advisory on tax issues like capital gains/ loans/ tax Investments etc.
  • Tax compliance: We undertake Regulatory compliances such as statutory returns and documents preparations, compilations and e-filings with the revenue authorities that include the following:
    * Tax Audits as per the provisions of the Indian Income tax Laws.
    * We help in the preparation and review of corporate tax returns to ensure the compliances with the Income Tax Act, 1961 and the various judicial pronouncements.
    * We guide for the preparation and review of the withholding tax (TDS) returns as per the provisions of the Income Tax Act, 1961.
    * Seeking Advance Rulings.
  • Tax representation: We undertake tax representations before the Revenue authorities for Tax Assessments of Income tax and transfer pricing cases and any other such tax matters.
  • Foreign remittance certificate: We also undertake consultancy and certification services required for making foreign remittances according to the provisions of section 195 of the Income tax Act, 1961 or as per Double Taxation Avoidance agreements (DTAA) as per the guidelines of Reserve Bank of India (RBI). The services of this category broadly include:
    * We offer expert suggestions on the applicability of withholding tax on various foreign remittances as per Indian Income tax Act / DTAA.
    * We guide in matters of issuing Foreign Remittance Certificates under the various provisions of the Income Tax Act, 1961.
    * We guide in the Royalty and Technical know-how workings as per Reserve Bank of India (RBI) guidelines and formats and withholding the tax certification on such remittances.
    * We help in seeking of certificates from the International taxation department for non/lower deduction of tax at source (TDS).
    * Representations before International taxation authorities regarding matters arising out of withholding tax on foreign remittances.
    * We also help in other documentation and remittance support and dealing with authorized dealers regarding foreign remittances.

G S T Compliance

Goods & Service Tax: Despite the various reforms carried out in the past years, the prevailing Indirect tax regime in India is still in the state of evolution. It comprises plethora of laws, rules and regulations at the central and the state level. At its present structure, it poses unique challenges to business organisation and often has significant impacts – on cash flow, absolute costs and risk exposures. The Government is striving continuous changes in the Indirect Tax Laws to make it more consumers friendly. Implementation of GST is an active step to integrate all indirect tax laws (Central Excise Duty, Customs Duty, Central Sales Tax, Value Added Tax (VAT) and Service Tax) under one law. In this direction, major step has been taken by introducing Negative List based Service Tax Regime which is being considered as significant move towards smooth transition to GST. We, P N Muralidharan & Co., have dedicated team of experts providing multidimensional professional services in various Indirect Tax Laws. Our team gives you the perspective and support to manage indirect taxes more effectively and efficiently.

  • Registration
  • Filing of Monthly return
  • G S T Audit
  • Appeal & Representation: We help you during tax audit by revenue authorities. We provide corporate tax litigation assistance including representation service before various revenue and appellate authorities. We answer tricky questions from taxman at different stages.
  • Strategic Consulting: Start up and expansion of business requires planning and structuring of transactions to optimise overall Indirect Tax incidence. Proper planning assists in reducing compliance cost and overall tax burden. Our experts with their wide experience and in-depth knowledge provide assistance in identifying potential risk areas and sustainable planning opportunities in the overall business scenario. We offer strategic consultancy involving structuring of transactions, designing of contracts and review of documentations. We also assist in designing overall system and preparing Standard Operating Procedures (SOPs) incorporating implications arising under various Indirect Tax laws.

Corporate Governance

The framework of rules and practices by which a board of directors ensures accountability, fairness, and transparency in a company's relationship with its all stakeholders (financiers, customers, management, employees, government, and the community). The corporate governance framework consists of (1) explicit and implicit contracts between the company and the stakeholders for distribution of responsibilities, rights, and rewards, (2) procedures for reconciling the sometimes conflicting interests of stakeholders in accordance with their duties, privileges, and roles, and (3) procedures for proper supervision, control, and information-flows to serve as a system of checks-and-balances.

Corporate governance is the system of rules, practices and processes by which a company is directed and controlled. Corporate governance essentially involves balancing the interests of a company's many stakeholders, such as shareholders, management, customers, suppliers, financiers, government and the community.

Corporate Investment & Finance: Our Corporate Finance and Restructuring practice, a trusted partner to companies, boards of directors, investors, lenders and creditors around the world, is focused on delivering restructuring and business transformation solutions. Committed to our clients' success, our professionals address the full spectrum of financial, operational and transactional risks and opportunities. Among our core strengths is providing expertise in guiding companies through the value creation lifecycle. Our targeted offerings include restructuring, insolvency, litigation support, interim management, capital market advisory, post-acquisition integration, valuation, tax advisory as well as financial management and performance improvement solutions. Our clients demand our industry expertise, which includes emphasis in the energy, healthcare, real estate, retail and consumer products, and telecom, media and technology sectors.

Business Formation

There are various modes / structures in which an entity abroad can register a business in India. The choice of the entity is a strategic decision. A structure may be favourable for one entity and may not be favourable for the other depending upon the nature of the entity. A graphical representation of the various modes / structures that can be used to Register a Business Name in India are given below, you can click on them to get more information:

* Formation and Registration
* Statutory Audit
* Internal Audit
* Management Audit / Services
* MIS Designing & Reporting
* Special Audit
* Tax Audit u/s 44 AB of the Income Tax Act 1961
* Handling of Assessments and Appeals / Compliance with E-TDS
* Indirect Taxation - Service Tax, VAT, CST and Sales Tax
* Certification
* Preparation of Minutes and other Secretarial Services

* Formation and Registration
* Statutory Audit
* Internal Audit
* Management Audit / Services
* MIS Designing & Reporting
* Special Audit
* Tax Audit u/s 44 AB of the Income Tax Act 1961
* Handling of Assessments and Appeals / Compliance with E-TDS
* Indirect Taxation - Service Tax, VAT, CST and Sales Tax
* Certification
* Preparation of Minutes and other Secretarial Services

* Formation and Registration
* Statutory Audit
* Internal Audit
* Management Audit / Services
* MIS Designing & Reporting
* Special Audit
* Tax Audit u/s 44 AB of the Income Tax Act 1961
* Handling of Assessments and Appeals / Compliance with E-TDS
* Indirect Taxation - Service Tax, VAT, CST and Sales Tax
* Certification
* Preparation of Minutes and other Secretarial Services

* Formation and Registration
* Statutory Audit
* Internal Audit
* Management Audit / Services
* Special Audit
* Certification
* Preparation of Minutes and other Secretarial Services

* Formation and Registration
* Tax Consultation
* Tax audit u/s 44AB of Income Tax Act
* Handling of Assessments and Appeals of Income Tax
* Registration under Indirect Tax Act (Service Tax, Sales Tax, VAT)
* Handling of return filing complaints of Indirect Taxes
* Handling of Assessment and procedures of Indirect Taxes

Formation of NGO / NPO

NGO Formation India

A Non Governmental Organization is an association of persons or a body of individuals. An association of persons with non-profit motive may be registered under any of the following Indian Acts:

  • As a Charitable Trust
  • As a Society registered under the Societies Registration Act
  • As a Company licensed under section 8 of the Companies Act, 2013

"Trust" is defined as an obligation annexed to the ownership of property, and arising out of a confidence reposed in and accepted by the owner or declared and accepted by him for the benefit of another, or of another and the owner. A Trust may be created by any language sufficient to know the intention and no technical words are necessary. A trust deed, generally, incorporates the following:

  1. The name(s) of the author(s)/settlor(s) of the trust;
  2. The name(s) of the trustee(s);
  3. The name(s) if any, of the beneficiary/ies or whether it shall be the public at large;
  4. The name by which the trust shall be known;
  5. The name where its principal and/or other offices shall be situate;
  6. The property that shall devolve upon the trustee(s) under the trust for the benefit of the beneficiary/ies;
  7. An intention to divest the trust property upon the trustee(s);
  8. The objects of the trust;
  9. The procedure for appointment, removal or replacement of a trustee.
  10. Their rights, duties and powers etc;
  11. The rights and duties of the beneficiary/ies;
  12. The mode and method of determination of the trust.
  13. A charitable trust is not required to obtain registration under the Indian Registration Act.

A society may be defined as a company or an association of persons united together by mutual consent to deliberate, determine and act jointly for same common purpose. Minimum seven persons, eligible to enter into a contract, can form society. When an NGO is constituted as a society, it is required to be registered under the Societies Registration Act, 1860. The chief advantage of forming a society are that it gives a corporate appearance to the organization, and provides greater flexibility as it is easier to amend the memorandum and bye laws of the society than in case of trust, terms of which are strictly manifested in the trust deed. However, formation of a society requires more procedural formalities than in case of a trust. A Society for its inception requires:- I. Memorandum of Association, and II. Rules and Regulations

For the purpose of registration, following documents are required to be filed with the registrar of Societies:

1. Covering letter requesting for registration stating in the body of the letter various documents annexed to it. The letter is to be signed by all the subscribers to the memorandum or by a person duly authorised by all of them to sign on their behalf.
2. Memorandum of Association, in duplicate neatly typed and pages serially numbered.
3. Rules and Regulations/Bye-Laws, in duplicate, certified by at least three members of the governing body.
4. An affidavit of the president/Secretary of the society, on a non-judicial stamp paper of prescribed value, stating the relationship between the subscribers, duly attested by an oath commissioner, notary public or 1st class magistrate.
5. Documentary proof such as house tax receipt, rent receipt in respect of premises shown as registered office of the society or no objection certificate from the landlord of the premises.
6. An authority duly signed by all members of the managing committee.
7. A declaration by the members of the managing committee that the funds of the society shall be used only for the purpose of furthering the aims and objects of the society.

An NGO can be formed under Section 8 of the company’s act, an association must fulfill the following: As per section 8 of Companies Act 2013,where it is proved to the satisfaction of the Central Government that a person or an association of persons want to register themselves under section 8 as a limited company for the furtherance of above mentioned objects, the Central Government may, by licence issued in prescribed manner allow that person or association of persons to be registered as a limited company under this section without the addition to its name of the word "Limited", or as the case may be, the words “Private Limited” , and thereupon the Registrar shall, on application, in the prescribed form, register such person or association of persons as a company under this section.

Procedure for registration of Non-Profit making Company

Procedure for getting License under section 8 for new companies with charitable objects is given in rule 19 of Companies (Incorporation) Rules, 2014. Please find below the process for registration of non-profit making Company under Companies Act, 2013:
1. Obtain Digital Signatures
Nowadays various document prescribed under the Companies Act, 2013, are required to be filed with the digital signature of the Managing Director or Director or Manager or Secretary of the Company, therefore, it is compulsorily required to Obtain a Class II Digital Signature Certificate from authorized DSC issuing Company for at least one director to sign the E-forms related to incorporate like form INC.1 and other documents.
2. Obtain Director Identification Number [Section 153]
As per 153 of the Companies Act, 2013, every individual intending to be appointed as director of a company shall make an application for allotment of Director Identification Number in form DIR.3 to the Central Government in such form and manner and along with such fees as may be prescribed. Therefore, before submission of e-Form INC.1 for availability of name, all the directors of the proposed company must ensure that they are having DIN and if they are not having DIN, it should be first obtained.
3. Name availability for proposed company
As per section 4(4) read with Rule-9 of Companies (Incorporation) Rules, 2014, application for the reservation/availability of name shall be in Form no. INC.1 along with prescribed fee of Rs. 1,000/-. In selection of Company name should be in accordance with name guidelines given in Rule-8 of Companies (Incorporation) Rules, 2014. The name will be valid for a period of 60 Days from the date on which the application for Reservation was made.After approval of name ROC will issue a Name availability letter w.r.t. approval for availability of name for a proposed company. Note: MCA has prescribed certain rules for name availability so it is advisable to check guidelines for the same before applying for name. Refer Rule-8 of Companies (Incorporation) Rules, 2014.
4. Preparation of the Memorandum of Association (MOA) and Articles of Association (AOA)
Drafting of the MOA and AOA is generally a step subsequent to the availability of name made by the Registrar. It should be noted that the main objects should match with the objects shown in e-Form INC.1. These two documents are basically the charter and internal rules and regulations of the company. Therefore, it must be drafted with utmost care and with the advice of the experts and the other object clause should be drafted in a very broader sense.The memorandum of association of the proposed company shall be inForm No.INC.13.
5. License under section 8 for new companies with charitable objects
A person or an association of persons desirous of incorporating a company with limited liability under sub-section (1) of section 8 without the addition to its name of the word “Limited”, or as the case may be, the words “Private Limited”, shall make an application in Form No.INC.12,along with the prescribed fee, to the Registrar for a license under sub-section (1) of section 8.

Main attachments of Form INC.12 would be as follows:

(a) The draft Memorandum of Association as per form no. INC.13 of the proposed company.
(b) The draft Articles of Association of the proposed company.
(c) The declaration in Form No.INC.14 by an Advocate, a Chartered Accountant, Cost Accountant or Company Secretary in practice, that the draft memorandum and articles of association have been drawn up in conformity with the provisions of section 8 and rules made thereunder and that all the requirements of the Act and the rules made thereunder relating to registration of the company under section 8 and matters incidental or supplemental thereto have been complied with;
(d) The declaration by each of the persons making the application in Form No. INC.15.
(e) An estimate of the future annual income and expenditure of the company for next three years, specifying the sources of the income and the objects of the expenditure;
There are few other attachments for form INC.12 but they are not compulsory. However the above 5 attachments are compulsory to incorporate a Non-profit making company.


If after filling the Requisite forms for incorporation with the Registrar of Companies along with fees, ROC is satisfied with the contents of the documents filed, ROC will issue the Licence in form No. INC.16 under section 8(1) read with rule 19 of Companies (Incorporation) Rules, 2014. Such company registered under section 8 shall enjoy all the privileges and be subject to all the obligations of limited companies.

Other statutory provisions related to Non-Profit making Company

1. Firm as a member of Non-Profit making Company: As per section 8(3) a partnership firm may become a member of the non-profit making company registered under section 8. Membership of such firm shall cease upon dissolution of the firm. However, partners of the dissolved firm may continue to be the members of such company in their individual capacity.
2. License for existing companies under Section 8:There is also a provision for conversion of existing Companies into a Non-profit making company under section 8 read with Rule 20 of Companies (Incorporation) Rules, 2014. Likewise a Non-profit making company can also be converted into any other Company by following the procedure given in Rule 21 and 22 of Companies (Incorporation) Rules, 2014. We shall discuss these procedures in some other article.
3. No Change in AOA and MOA: A company registered under this section shall not alter the provisions of its memorandum or articles except with the previous approval of the Central Government.
4. Revocation of Licence by Central Government: As per section 8(6), the Central Government may, by order, after giving the company a reasonable opportunity of being heard, revoke the licence granted to a company registered under this section if the company contravenes any of the requirements of this section or any of the conditions subject to which a licence is issued or the affairs of the company are conducted fraudulently or in a manner violative of the objects of the company or prejudicial to public interest,and direct the company to convert its status and change its name to add the word “Limited” or the words “Private Limited”, as the case may be, to its name and thereupon the Registrar shall, without prejudice to any action that may be taken under sub-section (7), on application, in the prescribed form, register the company accordingly.
5. Winding up of Company: As per section 8(7), where a licence is revoked under sub-section (6), the Central Government may, by order, after giving the company a reasonable opportunity of being heard, if it is satisfied that it is essential in the public interest, direct that the company be wound up under this Act or amalgamated with another company registered under this section.
6. Penalty for violation of Section 8: If a company makes any default in complying with any of the requirements laid down in section 8, the company shall, without prejudice to any other action under the provisions of this section, be punishable with fine which shall not be less than ten lakh (10,00,000) rupees but which may extend to one crore (1,00,00,000) rupees and the directors and every officer of the company who is in default shall be punishable with imprisonment for a term which may extend to three years or with fine which shall not be less than twenty-five (25,000) thousand rupees but which may extend to twenty-five (25,00,000) lakh rupees, or with both.

Grants for NGO & NPO

  • Application procedure with Central Ministry, Government of India
  • FCRA registration to accept foreign donations: We provide consultancy services to NGOs or NPO registered under Societies Act or Trust Act for registration under FCRA. Also provide service for filing yearly audited return with Central Ministry. We also help our clients to register under Societies and Trust Act, 12AA and 80G registrations required under The Income Tax Act, 1961.
  • Utilization and relevant certification

NRI Services

Tax Consultation
  • NRI/Non residents Tax consulting.
  • NRI/Non residents Tax return in India and Income Tax Planning.
  • NRI Tax clearance certificates from Income tax department in India.
  • 15 CB Certificates for tax compliances for remittances out of India.
Investment Consultation
  • NRI Portfolio management services.
  • Investment advisory for NRI funds in movable and immovable properties in India.
  • Settling in India of Returning NRI\'s and advising on Business opportunities.
  • RBI Regulations
  • Foreign Exchange Management Act (FEMA) consultation
Estate Management Consultation
  • Provide liquidation/lease of property through a top-notch property consultant.
  • Provide repatriation of sale proceeds of investment and property.
  • Provide repatriation of income from investments and rent from the property let out.
  • Complete banking and other regulatory formalities.

Legal Services

Drafting of legal Agreements
  • Gift deed
  • Settlement deed
  • Will
  • Sale deed
  • Arbitration Agreement
  • Lease & Licensing
  • Partnership deed
  • Partition
  • Memorandum of Understanding (MoU)
  • Affidavit
  • Declaration
  • Indemnity
  • Power of Attorney
Permission for foreign contribution under FC(R)Act, 1976

This is required by a NGO to get the funds from Foreign donors into India. This can be done in either of the two ways:
  * Normal Permission
  * Prior Permission
It normally takes around 6 months to get FCRA permission.

Documents required for Normal Permission Requirements

  1. Form FC-8 duly filled up in triplicate
  2. Copy of Certificate of Registration issued by Registrar of Societies/Trust Deed
  3. Copy of Memorandum of Association and Rules and Regulations of society
  4. Copy of Certificates of Exemption or Recognition issued to the society under Sections
  5. 80G, 12A, of Income Tax Act, 1961
  6. Copy of any earlier permission granted to the society, if any.
  7. The Trust/Society must be in existence for at least 3 years.
  8. Report on the activities of the association during last three years.
  9. Audit Report and Balance Sheet of Accounts of the association for the past three years.
  10. Copy of resolution of Governing Body of association authorising obtaining of Registration under FCRA.
  11. Copy of Power of Attorney/Resolution of Governing Body by which chief functionary has been authorised to submit Form FC-8.
  12. List of present members of the Governing Body of the society and of office bearers.
  13. It normally takes 6 months for application to be approved.

Back Office Services

Following are few of the accounts outsourcing services that we undertake:

Accounting Outsourcing Services
  • Cash Flow Management
  • Budgeting
  • Cash Disbursement
  • Fixed Assets, Depreciation and Amortization Schedule
Bookkeeping Outsourcing Services
  • Accounts Payable Processing
  • Accounts Receivable Processing
  • Accounts Reconciliation
  • Bank Reconciliation
Advantages of Hiring Accounting Outsourcing
  • Time saving
  • Cost Saving
  • Client can put more emphasis on Core business activities
  • Analyzing the potential risks in advance
  • Collection, summarization, and accurate analysis of financial data
  • Optimization of business resources and processes
Project Reports
  • Project Planning
  • Preparation of Project Report
e-filing of Income Tax returns
e-filing of TDS returns
e-filing of VAT returns
e-filing of Service Tax returns