Audit of both public and private companies, Banks, Financial Institutions, Business Entities, and Charities. The clientele is represented by different segments. We place emphasis on quality audit procedures and objective reporting. We also render advisory services on all aspects of corporate management.


Statutory Audits

Reviewing compliance with accounting procedures, provisions of company law, tax laws and other related laws, standards and guidelines as recommended by the Institute of Chartered Accountants for India in line with international accounting norms. Besides we analyse and report on the performance of the company to the board of directors through meaningful ratios, cash flows and other analysis tools.


Tax Audits

Auditing the accounts of the organisation in accordance with the specified provisions of the Income tax laws of India and providing disclosures of relevant information in specified formats.


Special Audits

Management Audits: Audit requeseted by the Board of Directors from time to time viz. for audit of poliies and decision Operational Audits: Analysis of transaction flows in business operations viz. inventory, finance, receivables, etc. Internal Control Reviews: Reviews conducted in order to provide assurance to the management on the error free running of the business systems by evaluating existing controls of an organisation and suggesting improvement Investigation Audits: Audits carried out at the request of the management to investigate issues like suspected fraud, misappropriation, etc. Compliance Audit of stock brokers, Mutual Funds and depositories Post restructuring monitoring of industrial units on behalf of CDR cell of IDBI

Bank Audits

Statutory Audit Concurrent Audit Revenue Audit Stock Audit Valuation of Current Assets Service Tax Audit System Audit Due Diligence Audit KYC  Audit

System Audits

The System Audit will cover, besides the requirement specified in respect to system audit under CISA or any other professional code of conduct, compliance of system with the rules, regulations, bylaws of Exchange, circulars / instructions /undertaking pertaining to CTCL and internet based trading system issued by SEBI and the stock Exchange from time to time. The audit shall be conducted for the purpose of and with an objective of identifying the system inadequacies/ deficiencies, if any, based on compliance requirement and the implication of such inadequacies. The Audit shall broadly cover the following areas/aspects:

Statutory Audit Concurrent Audit Revenue Audit Stock Audit Valuation of Current Assets Service Tax Audit Existing features and system parameters implemented in the trading system. Identify the adequacy of input, processing and output controls. Identify the adequacy of the application security so that it commensurate to the size and nature of application Event Logging and system monitoring. User Management Password Policy / Management Test of adherence Policies Network management and controls Change Management and version controls Backup system and procedure Business continuity and disaster recovery plan Documentation for system processes Security features such as access control network firewall and virus protection measures. Any other area/aspect which may be material for inclusion in the audit certificate and which may be specified by the Exchange from time to time

 

Accounting

Centralised Accounting for corporate entities Preparation of accounts for foreign companies for their liaison, project or site offices Pay Rolls, Assets Registers, Financial Statements from incomplete records, accounts and financial statements for professionals Welfare Funds (such as Provident Fund etc.) Liquidations and Bankruptcies

 

Taxation

Tax Planning, Tax Management Procedures and Development of tax strategies Representing before tax authorities including Tax Appellate Tribunals for assessment proceedings, appeal and petitions. Representation for Search and Seizure cases., representation before the Ministry of Finance for approvals/exemptions under Tax Act Evolving scheme for settlement of cases and representing before the Settlement Commission Advising business entitles on tax implications consequent to acquisition or succession Designing of tax strategies for reconstruction of entities, acquisitions, amalgamations, liquidation and mergers Making applications to Specified Authorities for tax rebate under Income Tax Act or amalgamations Providing expert opinions on Indirect Taxes such as: Customs Duties, Excise Duties, Service Tax, Sales Tax, VAT and works contract Tax

Delhi Sales Tax Services

For traders and manufacturers in Delhi, SPMC provides following services:

How to get registration under Delhi sales tax act? Exempted Sales Know your Ward/Assessing officer Rate of Sales tax under Delhi sales tax act Statutory Forms and how to get these forms Taxability of sale of fixed assets Summary assessment Regular assessment Appeal, revision and rectification of order Amendment in registration certificate Refund of tax

Above mentioned services also provide for sales tax on works contracts.


Service Tax

The concept of service tax was first introduced in India in 1994; its scope has gradually increased, in view of the revenue earning potentials. The service tax, that is indirect tax, has become a buzzword in the taxation laws and envisaged as the tax of the future.

Applicability of the service tax: The service tax is payable on all the taxable service rendered in India (except Jammu & Kashmir), whether to an Indian or foreign client. However services rendered abroad shall not attract service tax levies, as it extends only to services provided within India. The rate of service tax is 10% ad valorem with effect from 08.09.2004.

SPMC provide following service tax services for their service tax clients:

Registration Record to be maintained and invoice Payment of service tax Classification of services Adjustment of excess service tax paid Credit of service tax paid Interest and penalty Notice and visit by departmental officer Assessment Revision and appeal Refund of tax

VAT - Value Added Tax

Assistance with Value Added Taxation registration Advice on VAT planning and administration Use of the most appropriate scheme VAT control and reconciliation Help with completing VAT returns Conducting Sales Tax Audits

 

Corporate Advisory

Corporate Laws

Incorporation of companies, Drafting of Memorandum and Articles of Association Advisory services for public issues, bonus issues, Due Diligence of Prospectus, shares and security valuations Reconstructions, Amalgamations, Acquisitions, Mergers and takeovers Evolving schemes for amalgamations Approvals under Companies Act and the Income Tax Act, Pre-acquisition business investigations and due diligence and valuations In-depth review of past operations and future trend projections Preparation of schemes for rehabilitation of sick industries under the Sick Industrial Companies (Special Provisions) Act, (SICA), and representation before the Board for Industrial & Financial Reconstruction (BIFR) Preparation and filing of statutory return and petitions Preparation of all documentation related to minutes and resolutions Advice on Company law matters Formation of Multi cooperative societies

 

Financial Services

Portfolio Management Preparation of Project Report Project Feasibility Report Loan Syndication Bank Guarantee Arrangement for Working Capital Arrangement for C.C.Limits Arrangement for Overdraft Infrastructure Funding Infra Structure Real Estate

 

Investment Planning

SPMC provides services related to Investment Planning for Indian residents:

Portfolio Management To help for Investment in Life Insurance (Selection of suitable policy according your income or for maximum benefit) Infrastructure Bonds RBI Bonds Company Deposits Mutual Funds Shares Investment of Capital Gain money

 

Human Resources

Training programme for middle level staff of stock brokers Orientation programmes for Branches of stock brokers as regard to compliance to SEBI, NSE, BSE, NCDEX, MCX, NSDL, CDSL and Taxation Rules