Sri Lakshmi Audit Associates
What We Do
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- Sri Lakshmi Audit Associates
- About Us
- Tax Consultants Services
- Company Registration Services
- Auditing and Assurance Services
- Accounting Outsourcing Services
- Personal Taxation Services
- Non-Resident Indian Taxation Services
Tax Consultants
We provide our individual and business clients with the taxation expertise and knowledge that they desire throughout the year. Tax services offered include, but are not limited to:
- Tax planning and return preparation for individuals and corporate
- Advisory Services for Special Economic Zone (SEZ)
- Tax effects of buying, selling and start up a business
- Advisory Services for non residents under Foreign Exchange Management Act (FEMA)
Our Tax Advisory Services include the following
- Income Tax
- Tax Deducted At Source (TDS)
- Wealth Tax
- Corporate Tax
- Service Tax
- Value Added Tax (VAT)
- Excise and Custom Duty Tax
- Transaction Tax
Company Registration
Steps for company formation in India
Step 1 |
Obtaining Director Identification Number(DIN) |
Completed on Day 1 |
Step 2 |
Obtaining Digital Signature for one of the Directors of the Proposed Company |
Completed on Day 1 |
Step 3 |
Application for Name Availability & Obtaining the Name for the Proposed Company |
Completed on Day 4 |
Step 4 |
Drafting ,Stamping of Memorandum of Association & Articles of Association for the Company and filing with Registrar of Companies. |
Completed on Day 7 |
Step 5 |
Certificate of Incorporation obtained |
Completed on Day 7 |
Allotment of Director Identification Number (DIN)
Application in Form DIN-1 shall be made online and provisional DIN number of the person intending to become director of the Company shall be generated.
Acquiring Digital Signature certificate (DSC)
Digital Signature Certificate is acquired by submitting the application with prescribed fee to one of the registred vendors. On submission of documents, DSC is allotted in 24 hours.
Name Approval of the company
An application in Form No. 1A needs to be filed with the Registrar of Companies (ROC) online through Digital Signature of one of the proposed director. On submitting the application, the ROC scrutinizes the same and sends the approval / objections in about 2 business days to the applicant through e-mail.
Procedure for registration of the company
We are allowed 60 days after name approval of the company to complete the following documents. Upon submission of the following documents the company registration is usually granted within 3 working days.
An application for registration should be submitted to the Registrar of Companies with the following documents:
- Memorandum of Association;
- Articles of Association;
- A declaration in Form 1 by a person named in the articles of the proposed company as a director, manager, or secretary of the company,;
- Form 32 for appointment of Directors with their consent letters
- Form 18 providing information about the registered office
For any further information regarding Company Formation Services please feel free to contact us
Audit and Assurance Service
As one of the premier auditing and accounting services company in Chennai within India, our services include the following
Statutory Audit
Our services include Statutory Audit of Books of Accounts according to requirements of companies Act to ensure true and fair view of the accounts as well as compliance with special requirements under Sales Tax and Income Tax, Service Tax and Central Excise Acts
Internal Audit Services
Our emphasis is on ensuring strong internal control systems to minimize the risk of accidental or deliberate errors and omissions. Safeguarding of assets, adequate division of authority over key control areas and compliance with internal operating policies and guidelines are other focus areas of our procedures.
Management Audit Services
Productivity and efficiency of management are key determinants of an organization's success. Our procedures aim to maximize management performance by focusing on improving processes within the organization.
Operations and Efficiency Audit Services
Our objective is to ensure that resources of the organization are optimized to deliver maximum possible value. We focus on streamlining processes, minimizing waste and objective measurement of management and staff performance.
Special Investigative Audit Services
Despite designing and installing high quality control systems, organizations do face situations involving fraud and financial impropriety. We have assisted clients in unearthing such situations and taking remedial action.
Due Diligence Review
We assist clients in conducting financial, legal and accounting reviews in case of mergers, acquisitions and investments. A sound understanding of local laws, regulations and accounting practices enables us to vet all critical issues in detail.
Costing and Accounting System Design and Review
Accurately measuring and managing cost and accounting data is critical for management decision making and reporting. Our assistance in developing and installing these systems help management their decision making process.
Valuation Services
Assessing the company's net worth for purpose of amalgamation, mergers, de-mergers and equity investments.
Accounting Outsourcing Services
In today's scenario of globalization and technology convergence, the process of doing business has been redefined. Outsourcing the right business processes makes a lot of business sense. Most businesses and large companies are outsourcing their accounting, financial reporting and payroll processes for driving efficiency and cost savings to the business
Our services are always structured to suit an individual client's needs and requirements. Some of the accounts outsourcing services offered by us are as under:
Book keeping and General Accounting Outsourcing Services
Our accounts outsourcing services team is able to deliver complete finance and accounting solutions to companies located anywhere in the world.
Functioning as outsourced partners we take complete responsibility of the client’s routine processes allowing your management the liberty to focus on the more important strategic needs of your business
The range of our accounting services include
Book Keeping
Our trained staff efficiently uses technology to process transactions on a daily bases. This methodical process of recording all financial transactions leaves little room for any glitches in the accounting process.
Financial Statement preparation
Our team takes care of all financial statement preparation such as balance sheet, income statement or profit and loss statement, statement of retained earnings and cash flows.
Management accounts
We prepare management accounts making available essential information for company executives
Payroll Outsourcing
- Preparation of the monthly payroll based on the inputs received from organization. This would include all statutory and other relevant deductions.
- Ensure deductions of all relevant amounts and as per applicable statutory laws like Income Tax, provident Fund and Professional Tax etc.
- Checking Form 16 for the Employees and file Qtly. returns for e-TDS with Income Tax authorities.
- Deposit TDS & provide proof of deposit.
- Ensure redressal of any issues.
- Reconciliation of payments/statutory deductions etc. with books of accounts on quarterly basis.
Tax Planning & Returns
The service involves helping the clients make necessary periodic income tax, sales tax and other returns. It also includes helping the client make the right investment decisions and helping them avail various rebates and deductions.
Cash Forecasting
The service involves analyzing the cash requirements of the business and making cash forecasts for planning the future.
Personal Tax Consulting
The constantly changing tax legislation and complex domicile status issues have made it essential for high net worth individuals, owner-managers of businesses, corporate directors and executives to seek expert personal tax advice in respect of personal tax planning tax compliance and advisory services to abide by the law properly. Among others we provide following services to individual tax payers.
- Personal Tax Consulting- Tax planning, TDS advise, response of notice.
- Personal Tax Compliance – Tax computation, payment of advance tax and filing of Tax returns and response of notice from department.
- Review and assistance in advance tax computations.
- Representation before Tax authorities in connection with tax assessments, refunds or other matters.
- Support in getting various tax registrations including Permanent Account Number (PAN), view you tax credit online etc. .
- Management of tax records in Soft and Hard forms.
Non-Resident Indian Taxation and FEMA
This is another specialized area within our Direct tax practice.
The firm provides advisory and compliance services covering the entire gamut of Foreign exchange law and Taxation law applicable to Non-Residents including the following areas:
- Tax Advisory Services and filing of e-Tax returns
- Setting up a Branch office/ Liaison office/ Project office in India
- Banking and Remittances
- Investment advisory support
We offer specialized and customizable services to NRI's and PIO's settled abroad. Some of the services offered are:
Non-Resident Indian Taxation Services
Permanent Account Number (PAN) Filing
Professional support in filing Applications for Allotment of Permanent Account Number (PAN)
Filing of Return of Income and Wealth
- The tax returns can be compiled based on the input provided by the client.
- After the preparation of tax return, it can be filed electronically or physically.
- We provide tax representations before tax authorities, if required, for tax refunds or any other clarifications.
- We also offer tax support services on regular taxtion matters.
Capital Gains Advise
- Advisory support services in relation to Capital gains arising from the transfer of a capital asset such as shares or debentures of an Indian company, gold, Immovable property and any other capital asset
- Advise on Deposit of applicable taxes in India
- Support in deposit of tax and repatriation of money
FEMA / RBI Related Services
- Compliance of the procedure for repatriation of income / assets from India
- Applications to Reserve Bank of India for purchase / sale of shares, debentures & security, directly and indirectly from Residents/Non Residents in or outside India
- Application to Reserve Bank of India for purchase / sale of residential and commercial properties including renting out of properties
- Any specific advice required in relation to FEMA/RBI matters
Need Our Expertise Assistance Feel free. Get in Touch