- Preparation of formal technical accounting memo on behalf of management of the company.
- Technical assistance in complex accounting issues and events such as mergers and acquisitions, consolidation, stock options, deferred tax, forward contract/ derivative accounting, implementation of hedge accounting etc.
- Assistance in compilation of information required for audit purposes and participation in discussion with auditors/ audit readiness support.
- Preparation of accounting manual
- Fixed assets recording and register maintenance.
- Financial statement preparation and compilation.
- Accounting retainership arrangements.
- End to end XBRL conversion services.
Consulting
LEGAL
Corporate Law
Company Law or Corporate Law is the law that is concerned with the creation and regulation of companies. A company is a group, here referred to a group of people which are legally treated as a person. The company can own property, sign contracts, sue, and can also be sued in it home. (corporations law, company law) deals with the formation and operations of corporations and is related to commercial and contract law. A corporation is a legal entity created under the laws of the state it’s incorporated within. State laws, which vary from state to state, regulate the creation, organization and dissolution of their corporations. A corporation creates a legal or “artificial person” or entity that has standing to sue and be sued, enter into contracts, and perform other duties necessary to maintain a business, separate from its stockholders.
Corporations are taxable entities, which shields the individual owners or shareholders from personal liability for the liabilities and debts of the corporation, with some limited exceptions – such as unpaid taxes.
Cyber Law
We are India’s expert Cyber Law/cyber-law/cyber crime Advocates & IPR Attorneys. We are best cyber lawyers & financial crime lawyers. We investigate and also help people & corporate lodge police complaints in cyber cell or cyber police station or courts in Mumbai & India for various cyber crimes. We do IT Act, 2000 Compliance for organizations and websites. We draft national & international notices, agreements, contracts, covenants with a flare.
More About Cyber Laws:
We handle high value financial ,credit card, online & telecom frauds. We take software piracy, data theft, eCommerce, facebook abuse, fraud related cases. We also provide Litigation Support and give Expert Opinion in Cyber Security Matters Internationally. We also register Trade Mark & Copyright.
Income Tax
We Provide PAN Card, Filing of Income tax, TDS Returns, Consultancy on Income Tax Matters, Tax Refunds, Tax Planning & Savings, Maintenance of Income Tax Records, Liaisoning with Income Tax Authorities, Tax deduction account numbers.
GST
GST India specialize in advising new GST System through Presentation, working and setting up business product code for GST regim ,System to take full input credit and refund
Our core commitment is meeting exact requirements of clients at affordable and easily accessible services .Our client receive a superior range of quality products and services unmatched in the Industry.Our vast experience, coupled with global experience yields a unique Confidence and market awareness which we use in serving our clients well.
Finmatrix brings under one roof full range of professional services related to Indirect Taxes in India and assist corporate and SME businesses to smooth transit from Old Regim to New GST Regim. A global professional service company having Reputed Multinational and True Global Indian Clients ,working with International standard professionals in All key locations in India.
Excise Duty
Key Features of Excise Duty
- First and second stage merchants (counting maker’s stops and shippers) wanting to issue Cenvatable receipts.
- Persons holding distribution centers for putting away non-obligation paid products.
- Persons who acquire excisable products for profiting end-use based exception.
- Exporter-producers under refund/security method; Export Oriented Units and EPZ units which have connection with the residential economy (through DTA deals or acquisition of obligation free inputs).
Documents Required
- Customs Registration No. (BIN No.)
- Directorate General Foreign Trade
- Import Export Code No.
- Central Sale Tax No.
- State Sale Tax No.
- Registrar of Companies Index No.
- PAN Card of the Applicant
- Photograph of the applicant
- Premises map
- Date of starting of business
- Estimated Value of Plant & Machinery
- Goods to be manufactured/ traded
- Bank Account details
- List of Directors
- Address Proof of All Directors
- Address Proof of authorized signatory
- Address Proof of factory
- Board Resolution in favour of Authorised Signatory
- MOA & AOA
- Customs Duty
Professional Tax
- Statutory Requirement.
- Avoid Penalty.
- Easy Compliance.
About Professional Tax Registration
Professional tax is usually a slab-amount based on the gross income of the professional. It is deducted from his income every month. Some of the state governments that have levied professional tax are Karnataka, West Bengal, Andhra Pradesh, Maharashtra, Tamil Nadu, Gujarat, Assam, Chhattisgarh, Kerala, Meghalaya, Orissa, Tripura and Madhya Pradesh. In case of salaried employees and wage earners, Employer is liable to deduct professional tax with the State Government. In case of other class of Individuals, this tax is liable to be paid by the person himself.
Professional Tax is a tax levied on professions and trades in India. It is a state-level tax and has to be compulsorily paid by every member of staff employed in private companies. The owner of a business is responsible to deduct professional tax from the salaries of his employees and pay the amount so collected to the appropriate government department.
ESI
Employees registered under the ESI enjoy a range of benefits under the scheme. Employee enjoy medical attendance and treatment for the person insured and their families including full range of medical, surgical and obstetric treatment, supply of all drugs, ambulance services, super-specialty consultation, etc., In addition, to the medical care, insured persons also enjoy sick pay benefits. Registration with ESI provides the employee with tremendous benefits and improves worker morale and retention.
Employee’s State Insurance(ESI) is a self-financing social security and health insurance scheme for Indian workers. For all employees earning INR 15000 or less per month as wages, the employer contributes 4.75 percentage and employee contributes 1.75 percentage, total share 6.5 percentage. This fund is managed by the ESI Corporation (ESI) according to rules and regulations stipulated therein the ESI Act 1948, which oversees the provision of medical and cash benefits to the employees and their family through its large network of branch offices, dispensaries and hospitals throughout India. ESI is an autonomous corporation under Ministry of Labour and Employment, Government of India. But most of the dispensaries and hospitals are run by concerned state governments.
Key Features of ESI Registration
- Medical and Sickness Benefits.
- Continued Compliance.
- ESI Payment Deadline.
PF
ESI consultants can provide a number of services like ESI registration, ESI return filing, ESI audit, ESI consultation, ESI hearing consultation and more. On obtaining ESI registration, a business would need to file periodical returns. ESI consultants provide all services relating to the ESI regulation in India. Talk to an IndiaFilings Business Expert to find an ESI consultant near you.
ESI or PF Consultants are professionals who are subject matter experts in the area of Employee State Insurance in India. ESI regulations are applicable for businesses having more than 10 employees in India. ESI is regulated by the Employee State Insurance Corporation, a body established through the Employees’ State Insurance Act, 1948. ESI provides a social security system that provides socio-economic protection to worker population and their dependents covered under the scheme. Medical care for self and dependents, compensation for loss of pay sustained due to sickness or injury and providing of monthly pensions for dependents of insured person who in an industrial accident sustained injury or death, are main benefits of the ESIC scheme.
Import & Export
- Importers Require IE Code
- Exporters Require IE Code.
- Lifetime – NO Renewal
- No Return Filing
IEC stands for Import Export Code.It is used in Importing and Exporting goods in India.No export shall be made by any person without and IEC number unless specifically exempted.
IE Code application must be made to the Directorate General of Foreign Trade along with the necessary supporting documents. Once, the application is submitted, DGFT will issue the IE Code for the entity in 15 – 20 working days or less.
Import Export (IE) Code is a registration required for persons importing or exporting goods and services from India. IE Code is issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industries, Government of India. IE Codes when issued can be used by the entity throughout its existence and doesn’t require any renewal or filing. Therefore, it is recommended for most organizations to obtain IE Code, irrespective of if they need it at the moment.
FINANCIAL
Business Planning
Business plans help companies to define the enterprise objectives and scope of operations, products and services, and operational strategies. They can also begin to analyze the competition, forecast the sales, profit, and cash flows. Since business plans are summaries of operations and give inputs on future performances, lenders and investors demand to see them as tools for evaluating requests for financing. We will collaborate you to sail through, by provisioning unique business planning solutions.We dissipate moments to bestow a synopsis of your business at microscopic level. This acts as a helping hand to get your dream off the ground. A business plan with Infocrest can guide you to project the expansion of your association, aids you in acquainting your loopholes and boost your confidence. Business Planning Bangalore – A good business plan is vital in setting up a successful business. A business plan creates a written outline of a new business venture, and evaluates all aspects of the economic viability of the business venture.Strategic Consulting
The country’s eased regulatory scenario and improved ease of doing are increasingly offering opportunities to businesses to grow. We are engaged by family-owned businesses, private equity and venture capital funded businesses, widely-held companies and other organisations to assist them in developing and delivering strategic direction to the business. We offer a bouquet of fully integrated strategic advisory services. Our extensive experience and in-depth knowledge combined with our collaborative approach helps dynamic businesses to grow. Some of our key business consulting services include: Strategy planning and implementation: These services are aimed at assisting the to management of an organisation in deciding the strategic direction and ensuring their functional heads buy into the vision of the organisation. We do this through the following: CEO Room: It includes a strategic workshop customized to the client’s current business, operating model, geographic coverage, financial performance and competition. The workshop effectively leads to the preparation of a strategy map for the client. Once the strategy map is developed, our team facilitates the buy-in of the functional heads of the organisation given that these people ‘deliver’ the top management’s vision. Strategy action plans: Basis the strategy map developed in the workshop, our team collaborates with each functional team over a series of sessions to develop their functional strategy. Market assessments and competition landscaping: We help businesses become more aware of their market, operating landscape, competition and own positioning. Our services typically include market size (volume and value), growth (historical and projected), demand-supply gap analysis, price point analysis, value chain, competitor analysis, drivers/challenges and trends, relevant models showing the business strengths and positioning, etc. Business planning: We develop comprehensive financial projections through detailed financial models covering a period of 3-5 years based on detailed assumptions and management discussions. The assumptions cover the detailed market scenario, operating model, regulatory aspects, pricing and margins basis competition, supply chain model, fixed and variable expenses, etc. Commercial due diligence: Companies preparing for a transaction or currently in an ongoing transaction need an analysis of the market and competition, supply chain and validation of the future projections of the business basis the management model, customer interviews, competition and market assessment. Along with these analysis, we also provide a reason ability assessment on the financial projections by the management along with a detailed report, which can be used by investors and financial institutions to formulate their view on the transaction. Annual operating plan (AOP) : Our specialist team assists companies in preparing detailed AOPs and budgets from a bottom-up perspective. It spans across departments and covers complex modelling and validation exercises across levels — plant and machinery level, sales and marketing, HR, IT, etc. It also includes detailed workshops to kick off and set common top-down and bottom-up objectives. These AOPs are backed by detailed bottom-up functional level strategy action plans. We also undertake quarterly monitoring against the AOPs developed. Working capital optimisation: Our team can assess the opportunity of potential savings in working capital by optimising structural and operational processes, directly impacting working capital. This results in medium to long term sustainable savings rather than focusing on tactical levers to meet short-term goals. Key coverage includes: Identification of areas for cash flow leakage optimization: Designing a diagnostic workshop to assess current processes, terms and compliance levels for accounts receivable, accounts payable, inventory and cash flow management Bench marking the working capital position of competitors Quantification and reasons for pressure on margins, revenue leakage, structuring, relevant ratios etc. Quantification of sustainable savings opportunity Working capital and cash flow planning: Developing an implementation road map to deliver the identified savingsInformation Technology
We will manage your end-to-end needs including application architecture, design and development, testing, implementation, hosting and maintenance. We provide quality services that are balanced and consistent—ensuring your applications are dependable, adaptable business assets. Application Development and System Integration Services offerings are industry-based solutions that maximize client value across the entire application life cycle. Our services combine proven processes, leading technologies, open standards, and the right people to move your company to the next level. Our objective: work with you to help you achieve your business goals by delivering custom software solutions. Application Development and System Integration ServicesWe deliver smart software applications to solve your organization’s challenges and build your business. With Application Development and System Integration Services, We can help you find the best balance of speed, cost, quality, and fit.Management Reporting
Accounting and monthly management reporting- Maintaining accounting records as per IGAAP
- Accounts payable and accounts receivable management
- Fixed assets accounting and maintaining a fixed assets register
- Employee expense reimbursements
- Preparation of MIS for local and global reporting as per the agreed formats/templates
- Preparation of annual statutory financial statements as per IGAAP, including tax audit
- Annual statutory and tax audit support
- Financial controller and accounting review services
- In charge of the overall existing accounting function and management reporting
- Supervision of the in-house accounting team
- Review of budgets versus actual reports and reporting to the management on exceptions
- Reviewing of MIS, monthly accrual report, revenue recognition to ensure accuracy and completeness and management reporting on financial performance
- Ensuring fair and accurate accounting of general ledger transactions
- Reviewing monthly closure of the sub-ledgers and general ledgers
- Reviewing cash flow projections and other reports to align with corporate projections
- Reviewing reconciliations including inter-company account reconciliation
- Suggest measures to improve overall efficiencies in the processes
- Payroll and related services
- Payroll compliance management
- Advanced web-based payroll platform to boost automation and error-free zone
- Secured system for transferring data to and fro without accessing emails
- Payroll platform with integration capability with the HR and accounting system
- Experienced, proficient team for payroll processing
- Systems for processing employees’ reimbursement
- A 24×7 dedicated employee self-service portal
- Mobile application for quick reference to the pay slip and filing of investment details
- Online leave management system
- Travel and expense management system
- A dedicated online helpdesk for employee-query management.
- A dedicated team for other personalised services like CTC restructuring, expat, etc.
- Issuance of a standard employee handbook comprising all the work conditions, employee benefits, office rules, code of conduct, and various related regulations Drafting policies as recommended and required
- Drafting policies as recommended and required
- Providing draft offer letters for new hires
- Employee induction/on boarding support
- Organisation structuring
- Roles and responsibility articulation
- Performance management
- Rewards and recognition
- Career progression
- Conducting training sessions
- Global mobility services
- Compensation structuring, inbound and outbound employee assignment structuring and compliance
- Employee tax compliance assistance
- Assistance in setting up ESOP schemes and other employee remuneration structures
- Incorporation of an entity, company, LLP, etc.
- Drafting charter documents like memorandum and articles of association
- Obtaining approvals from Company Law authorities
- Applying for digital signature for directors and director identification number
- Assisting in obtaining tax registrations like PAN,TAN, IEC, GST, etc.
- Opening of bank account
- Corporate secretarial compliance services
- Making and monitoring a customised company law compliance calendar
- Drafting of notices, resolutions and minutes for committee, board and member meetings
- Assisting in company law compliance with respect to equity management and share stamping-related compliance
- Assisting in all types of annual compliance including returns and reports
- Assisting in all event-based compliance’s including any changes like reconstitution of board, shifting of registered office, approvals, etc.
- Other event-based compliance’s like inter-company loans, buy-back of shares, investments, guarantees, and providing of securities etc.
- Foreign Direct Investment (FDI) related compliances
- Filing of intimation to RBI on receipt of remittance from non-resident for share purchase
- Coordinating for share valuation certificate connected with the filing of Form SMF from a Chartered Accountant
- Preparation and filing of documents along with Form SMF with the RBI
- Preparation and filing of FLA return
- Overseas Direct Investment (ODI) related compliances
- External Commercial Borrowing (ECB) related compliance
- Annual and event-based compliances of FCRA registered entities
- Preparation and filing of annual corporate tax return
- Assistance in advance income-tax computation (quarterly)
- Tax reviews including diagnostic reviews, setting up tax compliance reporting systems, etc.
- Statutory compliance support on coordinating and reviewing tax withholding certificates on foreign vendor payment
- On call advisory services on direct tax matter
- Regular GST compliance assistance for each GSTN registration
- Computation of tax liability as per GST provisions
- Preparation and filing of GST returns
- Review of TDS rates and assistance in preparation of TDS returns under GST, if applicable
- Review of ISD return for one ISD registration under GST, based on the data provided
- GST audit
- Functional analysis
- Comparability analysis
- Industry and business
- Shared service centre
- Compliance management solution
- GAAP conversion services
- Assistance in conversion into iXBRL and
- XML reports for statutory filing
Financial Reporting
ASSURANCE
Risk Advisory
We help our clients in managing their risks and achieving their business objectives, so all our Risk services are connected with this expectation.
- To safeguard the future of companies’ risk, it is vital to manage the risks companies face:
- Define what their key risks are
- Assess and weigh their probability and impact on business drivers.
- Define priorities and actions to mitigate them
We can help you achieve a high-functioning, integrated risk and control environment that will:
- Help you decrease complexity and cost.
- Improve performance.
- Protect your existing assets.
Internal Control
Key Features of Internal Control
- Designing of Internal Financial Controls and identifying opportunities for process optimization and building efficiency.
- Testing of Internal Financial Controls for implementation and operating effectiveness of controls.
- Attestation of Internal Controls over financial reporting for SOX 404 requirements or IFC reporting requirements as per the Companies Act of 2013.
- Using analytics to monitor key transactional data controls, identify & validate risk relationships, data visualization of multidimensional risk universe, employing inductive discovery techniques to validate risk criteria, and validation on the population data.
- Using analytical techniques to evaluate management override of controls and assess fraud consideration, e.g., analyze journal entries to detect characteristics of audit interest and employ a risk-based sampling approach to identify journal entries for further testing.
We work with our clients to transition or transform the internal controls environment from a critical action oriented to meet the baseline requirements to a strategic and optimized risk management framework. FSICA professionals work according to professional and regulatory standards when reviewing and reporting on our clients’ financial information and controls and are dedicated to audit quality. We strive to bring insight to our engagements and provide assurance to our external audit and advisory clients along with enhanced value.
Finmatrix provide specialized services towards our external audit and advisory clients which includes review of internal controls covering financial and operational areas and analytics aimed to provide value to client and audit, and efficiency.
Corporate Due-diligence
Organizations world wide have realized that a strong, transparent and accountable mechanism is a prerequisite to analyze the progress of any programmatic intervention. One of the most imperative process to assess the success of any programme is a strong regularized monitoring and evaluation process.
Due diligence is especially critical when dealing with businesses or governmental organizations in developing markets. In this environment it is essential that businesses become completely familiar with the operations of international clients, business partners, distributors, agents, consultants and individuals before conducting offshore transactions, establishing formal corporate partnerships or committing to international investments.
Due diligence” can be defined as “the care that a reasonable person or organization exercises under specific circumstances to avoid harm to themselves or others.” People and organizations are usually expected or required to perform necessary and appropriate due diligence before undertaking expensive and/or critical efforts. Said another way, due diligence is a risk aversion, and/or risk mitigation strategy.
Business process re-engineering
With growing competition, many organisations are trying to explore possibilities to boost their revenue stream and stay ahead of their competitors. Organisations also have to deal with dynamic markets, ever changing compliance and regulatory issues. Though clients may have a defined BPM mechanism which helps ease their complex business processes, many of them are unstructured and lack a proper management system.
Finmatrix helps clients document, analyse, improve and automate their business processes. We leverage the business process modeling framework to improve the capture of business requirements and key process metrics.
Business Restructuring
With growing competition, many organisations are trying to explore possibilities to boost their revenue stream and stay ahead of their competitors. Organisations also have to deal with dynamic markets, ever changing compliance and regulatory issues. Though clients may have a defined BPM mechanism which helps ease their complex business processes, many of them are unstructured and lack a proper management system.
Finmatrix helps clients document, analyse, improve and automate their business processes. We leverage the business process modeling framework to improve the capture of business requirements and key process metrics.
Valuation
Companies seek business valuations for corporate governance or regulatory reasons, or management review for critical input for decision making process. In these instances the company is at a critical moment in its life. It may be planning a major acquisition, resolving a shareholder, or joint venture dispute, seeking to reduce the gap between intrinsic and market value.
- A fairness opinion on a transaction is to satisfy regulatory requirements or corporate governance concerns.
- Independent and objective advice, to determine the right price to pay or accept for a business.
- Valuations of unlisted companies, businesses, shareholdings, goodwill, know-how, brands and other intangible assets.
- Advice for Joint Ventures / Alliances on equity splits at formation or exit in an independent or advocate role.
- Support for litigation or arbitration, particularly expert witness and adjudication work in business valuation disputes.
- Valuation opinions for unquoted debt or equity instruments.
- Valuations of intangible assets or intellectual property such as brands, know-how, trademarks, customer lists, intellectual property rights (IPR) and goodwill for commercial, tax or regulatory (IFRS / US GAAP ) reasons.
- Valuations for regulatory purposes e.g. Takeover Code, the Companies Act.
- Purchase Price Allocation for IFRS & US GAAP.
- Impairment review of assets for IFRS & US GAAP.
- Complex valuations including highly-leveraged businesses and international projects.
- Investment decision analysis.
- Maximizing tax benefits for individuals and organizations.
Compliance Audit
The Companies Act, 2013 has put lot of responsibilities on the companies and its directors. Therefore it has become necessity for the companies and its directors to be on toes when it comes to be compliances under various acts applicable to their business. A regular compliances audit helps the organization to have check on the compliances mandated under the laws and regulations.
We undertake compliances audit covering more than 60 business laws which are applicable to the business entities. Our consulting professionals combine industry knowledge, experience, leading methodologies, and a performance focus helps to undertake compliance audits covering applicable business laws to the entity. Our compliance audit report gives all the stake holders a snap shot report on the status of the compliances on all the business laws which are applicable to the enterprise.
A compliance audit is a comprehensive review of an organization’s adherence to regulatory guidelines. The extent of the compliance audit is also be dependent on whether an organization is public or private. Compliance Audit is undertaken to confirm regulatory compliances which are applicable to any entity. It promotes good governance both by identifying weaknesses and deviations from laws and regulations.