MMD ASSOCIATES

PROPOSAL FOR TAX

PREPRATION AND
ACCOUNTING SERVICES
FINANCE AND TAXATION
MR R.P.PAL (B.COM., M.COM., LLB)
GST & TAX PRACTITIONERS
28/11/2019

MMD ASSOCIATES
ADDRESS: H.NO. 1631 NIC MANIMAJRA CHANDIGARH ,
FLAT NO. 13-C NEW TOWN HAIBATPUR ROAD DERA BASSI MOHALI ,
MOBILE NO. 7973365397,9478794263 ,
Email ID : chandigarhtaxconsultant@gmail.com
 Finance & Accounting

-Book Keeping & Accounting

-Taxation (Direct & indirect)
-Fixed Assets Management
-Reconciliation – parties, banks and inter unit
-MIS & Budgeting
-Vendor Management
-Cash flow & Fund flow
-Preparing their annual accounts
-Maintaining accounting records in all platforms including Tally, Marg, CA Max etc.
-Fund & Cash management

How can we help

In today’s competitive and complex world every business wants to use its skills or
resource according its core competence and to the maximum benefit of the organisation.
In order to achieve that they outsource their book keeping and accounting function to
experts like us so that correct recording and reporting of transactions happen as needed
under different statutes.

Bookkeeping & Accounting is the process of recording, in chronological order, daily

transactions of a business entity. It forms part of the accounting information system. On
the other hand, accounting is an information system– includes process of recording,
classifying, summarizing, reporting, analyzing and interpreting the financial condition and
performance of a business – in order to communicate it to stakeholders for business
decision making.

-We provide both on site and off site permanent/ temporary accountants
-Assist in audits and preparation & compilation of Annual accounts and financial
statements
-Prepare management reports as needed to help quickly identify and react to any
financial opportunities or threats to their business
-Book keeping in desired software /platform including Tally, Busy, Oracle, SAP, Quick
books etc.
-Advisory to client to understand the business needs / gaps and its resolution
-Budgeting and budgetary controls analysis
-Cash flow and Fund flow management
-Accounts receivable & Accounts Payable management services
-Preparing Aging reports and summary and Reconciliations of Accounts, Bank, Credit
cards, GST etc.
-Invoicing Processing services
 Payroll Processing

Human resource is an important asset of every organisation. It needs to be well take

care and correct payroll processing and disbursement is an essential component of it.
We undertake payroll processing services and it includes

-Input Analysing activities

-Analysing Organisation payroll policy
-Input validation
-Payroll Calculation
-Reporting process
-Statutory compliances like PF, ESI, TDS, etc.
-Payout
-Reporting and Accounting
-Bank Transfer Letter

 Goods and Service Tax

With the implementation of Goods and Services Tax (GST) from 1st July 2017, there has
been a paradigm shift in indirect tax structure in India from origin based tax to
destination based tax.

GST will enable businesses to move into different geographies seamlessly GST is a
welcome change and in principle looks attractive and simplify the tax regime. GST shall
provide the much needed stimulant for economic growth in India by ensuring the free
flow of goods and services within the economy and also eliminating the cascading effect
of different taxation.

We undertake following GST services

-GST Registrations
-Filing of GST Returns (Regular Dealer, Composition Dealer, ISD, Non-Resident, E-
Commerce, etc)
-GST Annual returns
-GST Consultancy/Advisory on various issues of GST
-Impact Analysis on Business Segments
-GST Audits as per GST Act, 2017
-GST Implementation
-Compilation of Data of Input Tax Credit
-Maintenance of Records for Compliance
-Strategic Business Planning under GST Regime
-Supplier/Buyer Management
-HSN Code Finder
 Audit & Assurance

The global economies & markets are ever changing which increases the business &
statutory complexities and requirements resulting in risk assurance. Clients require
audit & assurance beyond the conventional assessment of numbers.

We engage with our clients on a continuous basis to understand the client and its
business needs before chalking out an audit programme. We ensure adherence to
statutory and regulatory requirements, including disclosures and provide
constructive, value-added delivery.

Our Audit & Assurance vertical offers a wide range of services that are customised to
suit the specifications of each client based on our two decade experience across
companies and our deep knowledge of Indian laws. This quality led approach means
our professionals provide an insightful audit to all our clients.

Statutory Audits

Audit Process is an integral part for adding value to the business and assisting the
management in taking various strategic decisions for growing the business. We
provide quality Audit & Assurance services to deliver the expected results.

The principal of a statutory audit is to ensure that the financial statements prepared
by the management give a true and fair view. We review the compliances with
accounting procedures, provisions of various law, standards and guidelines in
accordance with the Indian GAAP to ensure that financial statements are free of any
misstatements, errors and discrepancies.

Internal Audits

Audits are no more restricted to accounts related tick and bash, which, in our case,
has become a minor part of the overall gamut of activities covered. Process flows in
an organisation's are mapped along with their internal controls etc. as part of an
audit, other than checking into routine accounts etc.

An internal audit is a vital tool in corporate governance. It assists to evaluate

company's internal controls, corporate governance and accounting processes to
improve overall efficiency of the organisation. It provides independent assurance that
the key risks facing an organization have been identified and managed, and that
systems and controls are robust and appropriate.
 Tax Audits

We conduct Tax Audit of eligible assesses in accordance with the provisions of the
Income Tax Act,1961. It involves correct reporting and disclosure of information
required as per Income Tax Department for proper assessment of tax.

Compliance Audits

We conduct compliance and secretarial audits. It helps strengthen the Corporate

Governance in an organization. Compliance audit ensures that all compliances under
different statutes as applicable to the company are in place. This relieves the
management from worries and assists to focus on core work.

Secretarial Audit

The recently introduced Companies Act, 2013 requires specified class of Companies
to furnish a Secretarial Audit Report. The Companies Act, 2013 has given exclusive
recognition to Professionals to carry out the Secretarial Audit of Specified Class of
Companies.

GST Audits

We conduct GST audit as required by the GST Act. The detailed review of process is
accrued out from beginning of the transaction to its reporting to identify gaps, if any.
The reconciliations between different forms and returns filed is prepared. It is also
mapped with book of accounts. The disclosures and findings are accordingly
reported in the GST audit report.

Cost Reduction Audit

The Cost reduction audit includes detailed review of business operations, processes
and transactions, identifying loopholes and providing suggestive cost effective
measures without compromising on quality and output based on our diverse
experience with different industries and set ups.

 Legal & Secretarial

We provide complete assistance in Legal & Secretarial side to ensure that the
company is fully compliant w.r.t. to all laws and statutes applicable. The same
includes:

-Registration & Incorporation of companies, private, public., NPO and Drafting of-
Memorandum and Articles of Association of Companies etc. as best suited to the
business.
 -Assist clients in completing their documentation for filing with the Registrar of
Companies, both on an annual basis and in relation to events or activities and
maintenance of records for compliance.
-Assisting corporate in drafting of their Subscription Agreement and Shareholders-
agreement. The process also involves interaction with the key employees,
prospective investor and venture capital entities.
-Assisting Clients to draft their legal and other agreements encompassing various
aspects of their business.
-Assistance to Indian Corporate in drafting of their Transfer Pricing Agreements.
-Drafting and implementation of ESOP for various IT companies. Plans have also
been devised for Indian companies who have parentage overseas.
-Assistance in establishing branch office, liaison office, project office or other similar
offices in India by foreign entities and overseas by Indian entities.
-Assistance in drafting of Foreign Collaboration Agreements, Joint Venture
Agreements and other legal agreements
-Rendering advice to corporate on their ex-pat employees/ consultants.
 Other Services

We provide various other services to act as an one stop solution for all the client
needs.

-Registration & Compliances under the labour laws:

-Shops & Establishment Act
-Employees' Provident Funds & Miscellaneous Provisions Act
-ESI Act
-Actuary Valuations
-Assistance in Obtaining 80G and 12A certificate to non-for-profit organisations from
the Income Tax Department, granting their donors the ability to avail of a tax
deduction on donation.
-Liaison with the Reserve Bank of India for FEMA/RBI compliances/approvals for
both import, export etc.
-Issue/Transfer of shares between residents, non-residents/foreign companies
including FEMA compliances.
-Regulatory compliances wrt STPI/SEZ/ EOU schemes.
Approvals under the customs/excise wrt Foreign Trade Policy for duty free imports
etc.
-Assistance in availing export incentives under Merchandise Exports from India
Scheme and Service Exports from India Scheme
-Assistance in registration as star exporter
-Obtaining Export Credit Guarantee Corporation policies