We at Sky Exim Solutions focus on helping clients design and build Tomorrow’s organisation. We provide real world solutions to complex business issues through audit and assurance functions, taxation-international and domestic, startup in India, company formation in India and valuation of business etc.
1. Direct Taxation:
Direct Tax ConsultancyDirect 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.
Assessment (audit by tax authorities) and appealsThe assessment and appeals procedure under the Act involves the following:
Every assessee, before submitting a tax return, is required to make a self-assessment of income and after taking into account the amount of tax already paid by way of TDS and advance tax, pays the balance tax (self-assessment tax) due on the income. Further, along with the tax, any interest arising on account of delay in furnishing of tax return or any default /deferment in payment of advance tax, is also required to be paid.
Assessment by Tax authorities
Assessment in income tax law is also done by tax authorities. Tax authority send notice to assessee under various section of income tax act. We offer complete solution to manage these kind of assessment in best possible manner.
WITHHOLDING TAXWithholding taxes on payments other than salaries
Under the Act, a person making certain specified payments such as salary, contractual payments, rent, interest, professional or technical fees, commission, payments to non-residents, etc. is required to withhold tax at source from such payments and comply with the associated requirements in respect of deposit of taxes in the Government treasury in the prescribed manner, issue of tax credit cerficates and filing withholding tax returns. The rationale of withholding tax is to provide a mechanism for tax authorities to collect tax at the source of income, and also to expand the tax base
Failure to comply with the prescribed withholding requirements could result in the levy of penal interest, penalty and prosecution under the Act, in addition to the liability to make up for the taxes not withheld/deposited.
The following chart depicts the withholding tax provisions prescribed under the act
Some of the direct tax services provided by us include
INCOME TAX & WITHHOLDING TAXES
- Advising on Income Tax Planning of Corporates.
- Advising & reviewing of all necessary tax withholding responsibilities.
- Advising all financial subjects which are of your interest and keeping you updated on the new amendments, circulars, notifications & judgments.
- Verification of all payments to vendors for the purposes of determination of correct application of rates and category for deduction of withholding taxes.
- Computation of monthly TDS on the basis of above.
- Monthly tax reconciliation of the TDS due and deducted.
- Preparation and deposit of Monthly challans on or before the statutory due dates.
- Filing of quarterly E-TDS Returns.
- Filing annual Income Tax return.
- Issuance of Chartered Accountant certificates u/s 195 required for the Overseas Remittances purposes from time to time.
2. Indirect TaxationGST is a huge reform for indirect taxation in India, the likes of which the country has not seen post Independence. GST will simplify indirect taxation, reduce complexities, and remove the cascading effect. Experts believe that it will have a huge impact on businesses both big and small, and change the way the economy functions. Here is an indicative glimpse of services we offer, in light of a dynamic and evolving regulatory environment surrounding Goods & Services Tax:
- Registration under GST law
- Return filling and book keeping under GST law
- Implementation of GST
- Different kind of audit under GST Law
- Determining taxability and ITC
- Refund process
- Consultancy and others
3. Audit & AssuranceWith dynamic changes in global economies & markets and increase in business & statutory complexities and requirements, the necessity for risk assurance has intensified. Clients require assurance beyond the conventional assessment of numbers. We believe that the audit process should add value to the business and assist its management in control, compliance, strategic and operational decision making to enhance their growth prospects. Our Audit & Assurance vertical offers a wide range of services that are tailored to suit the specifications of each organization, drawing on our extensive experience across industries as well as our deep knowledge of Indian laws. This quality led approach means our professionals provide an insightful audit to all our clients.
Audit & Assurance Services
- Statutory Audit
- Tax Audit
- International Financial Reporting Standards (IFRS)
- Indian Accounting Standards (Ind-AS) compliance services
- International Group Reporting and related compliances
- Internal Audit
- Risk Assessments
- Process Review
- Internal Financial Control Documentation and Testing
- Standard Operating Procedure Development :
4. Transaction Advisory ServicesOur Transaction Advisory services provide a complete solution from target identification, opportunity evaluation, valuations, due diligence, deal negotiations, transaction structuring, transaction documentation through to post-investment business planning and design and development of management information systems for effective decision making.
Our Regulatory Advisory Services (FEMA, RBI, and Companies Act-advisory and compliance) add strengths to our Transaction Advisory team that together bring transaction process efficiencies for our clients.
The Transaction Advisory Services vertical provides financial advisory and support services to Businesses and High Net Worth individuals in and outside India pertaining to their investments, divestments and dilutions across asset class. The TAS vertical has had the privilege of advising leading multi-billion Dollar Single Family Offices, Private Equity Funds, Non-Banking Financial Companies and Corporates across the globe across service offerings.
Our services include:-
- Enterprise and Equity Valuations as per globally accepted methodology (including for prescribed regulatory compliances under Income Tax Act, FEMA, et. al)
- Pre- Investment Financial Due Diligence.
- Post Investment Due Diligence to assess financial discrepancies.
- Planning, Strategizing and Documenting Information Memorandums and Pitch Books for prospective divestment or dilution from core or non-core assets.
- Planning, Strategizing and Documenting detailed Business Plans or feasibility studies for businesses including those at inception, growth phase or under reconstruction.
- Assisting in reviewing and analyzing historical data of a business to extrapolate Financial Projections to assess financial viability and sustainability of a business.
5. Company LawOur services under this vertical include
- Setting up of Companies, Joint Ventures, Branch Offices, Project Offices and Liaison offices;
- Conversion of unregistered entities into Private/Public Companies under provisions of Companies Act 2013;
- Preparation of detailed Diagnostic/Action Taken Report, based on implications of the Companies Act, 2013 for Corporate Houses/Companies;
- Regular Compliance Services and Advisory services
- Conducting Comprehensive Secretarial Audits of Public & Private Companies;,
- Representations and appearances before the regulatory and statutory authorities like Jurisdictional National Company Law Tribunal, SEBI, Registrar of Companies, Regional Director or other authority relating to compliance of various company law and related requirements, government approvals, statutory filings, etc;
- Litigation support
- Setting up LLP, Conversion of partnership firms/private companies into LLP, winding of LLP`s, restructuring within the LLP & ongoing compliances thereto;
6. Accounting & Book KeepingWhether you are launching a start-up in need of small business bookkeeping services or already run an established business, we can offer you a convenient bookkeeping solution. We provide you with easy access to qualified, seasoned bookkeepers and accounting professionals - without you ever having to hire them. Even if you own an established business and your in-house bookkeeper is not sufficiently qualified or is unable to keep pace with the work flow, we can provide the most efficient bookkeeping solutions at cost-effective rates. Our online bookkeeping services will help you reduce costs and manage your books efficiently.
Our bookkeeping services include the following :
- Accounts Payable Management (Vendor Bills and Payments)
- Accounts Receivable Management (Customer Invoices and Collections)
- Bank Reconciliations (Checking and Credit Cards)
- Electronic Document Management
- Inventory Management
- Recording and Reconciling Payroll Transactions
- Revenue Reconciliation with Bank Deposits
7. Labour LawsWe provides expert, technical, reliable & field support consultancy in various kind of labour laws like ESI Act., EPF Act., Factories Act., Bonus Act., Gratuity Act., CLRA Act., etc. and all allied Labour Matters. We are dedicated professionals in the field to maintain labour records. We are a team of very focused and dedicated professionals well versed and efficient to execute the jobs. We also have good & healthy relations in these fields. We always dedicated to accomplishment of our client satisfaction.
Our services under this vertical include:-
- Registration under EPF, ESI & others Laws.
- Monthly & routine compliance under labour laws like
- • Monthly Return filling for ESI and EPF
- • Submission of various kind forms
- • Admission and exit of member from ESI and EPF
- • Completing KYC, time to time, of employer and employee
8. Consultancy & Other ServicesWe also offer our expert consultancy and opinion regarding various matters as required by client, such as:-
- Taxability of any products/services under GST Law
- Taxability of any receipts under income tax law
- Opinion on any matter or issue
- Consultancy regarding withhold tax
- In the matter of international taxation
Our other services include: -
- Registration under
- • Partnership Act
- • Trust Act
- • Society Act
- • IEC (Export Import Code)
- • TAN/PAN
- • Shop & Establishment Act
- • Trade Mark / Patent / Copyright
- • FSSAI (Food Safety Licence)
- • ISO certificates
- • CA Certificate as required
- • Working capital requirement
- • Term Loan
- • Loan against property
- • Project funding