Services

Indian tax law requires a tactical approach and a range of strategies so that you are well positioned for tax savings. Our services include the following:

1. Tax Implication on each Transaction which involve Income element
2. Personal Tax Compliances - Compiling and filing of Tax return
3. Advance tax calculations and deposit on quarterly basis and deposit of self-assessment tax and tax on regular assessments etc.
4. Replying to various Income Tax Notices, getting wrongly raised demand deleted and getting refunds, if any.

We 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). We also provide the services obtaining Lower TDS Certificate from the Income Tax Department.
The services of this category broadly include:

1. Opinion on Applicability of withholding tax on various foreign remittances as per Indian Income tax Act / DTAA.
2. Issuing Foreign Remittance Certificates under the various provisions of the Income Tax Act, 1961.
3. We help in seeking of certificates from the income tax department for non/lower deduction of tax at source (TDS).
4. Representations before International taxation authorities regarding matters arising out of withholding tax on foreign remittances.

Efficient maintenance of accounting records, unfettered payroll delivery and timely statutory compliances reduce risks, enable effective financial monitoring and control, and increase efficiency.
The Tax Compliances & Reporting Services we offer are:-

1. Tax Audits as per the provisions of the Indian Income tax Laws
2. Preparation and Review of corporate tax returns to ensure compliances with the Income Tax Act, 1961.
3. Payment of Tax On Employment
4. Monthly compiling of TDS from client records, timely deposit of taxes, filing of Quarterly E-TDS returns & issuance of Annual Certificated to Vendors. etc.
5. Help during tax audit by revenue authorities
6. Obtaining PAN/TAN

Every NRI i.e. Non-Resident Indian who has earned income in India is required to pay taxes on such income. The income may be Rental Income of Immovable Property or rendering some services or on sale of some assets located in India or Capital Gains of Sale of Equity Shares or Dividend Income on such shares. TDS is deducted on major transactions and gets deposited against your PAN (Permanent Account Number). Any excess TDS that may have been deducted can be claimed as refund only if assesses files return within due date. We have expertise in the area of Non Resident Taxation and helping around more than 400 clients on an annual basis.
The services of this category broadly include:

1. ITR (Income Tax Return) Filing of NRI’s.
2. Obtaining Lower Tax Deduction Certificate of NRI’s in case of Sale of Immovable Property.
3. Capital Gain Advisory and Consultation.
4. Handling complexities of taxation in multiple countries, availing double taxation avoidance agreements (DTAA).
5. Foreign Remittance consulting
6. Obtaining PAN/TAN

Our Assurance, Audit and Attestation services are aimed at assisting stakeholders who could either be money lenders or investors. Moreover, these facilities aid the organisations seeking to expand to international financial markets. Bohara Shah & Co offers a panoptic range of services inclusive of compilations, audits and reviews. Such services facilitate an organisation with a deep understanding of the core of business growth.

This type of audit is essential to regulate whether a company is abiding by the set rules and regulations. It consists of supervising as to whether the personnel are abiding by the rules prescribed by the company. 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.

Most organisations such as banks, asset management firms, finance institutes and insurance organizations 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.

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 or IFRS or US GAAP. 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.

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 company's rules.

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.

The monetary statements of a firm for a given period of time are to be looked after by the Statutory Auditor. The role of the 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.