service

We offer book keeping & accounting services to businesses who want to outsource their complete finance and accounts function to us.

Our experts comprising of Chartered Accountants and Accounting Executives provide seamless and specialized services to be compliant with Indian regulatory laws in a cost effective manner to eliminate the hassles of maintaining in-house team by adopting a shared service model.

Assistance is setting up the Accounting System

Setting up of Chart of Accounts

Assistance in formulating accounting policies & procedures

Monthly bank reconciliations and assistance with budgeting

Customized financial reporting on monthly, quarterly and annual basis

Audit of financial statements is critical to businesses, shareholders / owners, lenders, investors and other stakeholders.

We strongly believe that the audit process should add value to the business and assist stakeholders/management in strategic and operational decision making. We deliver tailor-made assurance services to our clients to help them rely on their audited Financial Statements in accordance with the latest accounting and auditing standards and regulations:

Statutory Audit as per Companies Act/ LLP Act

Tax Audit as per the provisions under Income-tax laws & GST laws

Internal Audits, Risk Assessment and Advisory, Process Reviews and Standard Operating Procedures

Documentation, Testing and Implementation of Internal Financial Controls (IFCs)

Internal control reviews, reporting requirements, physical verification of assets etc

International Financial Reporting Standards (IFRS) & Ind AS

We specialize in providing Direct tax services to individuals, MSMEs and Corporate clients which are highly effective and efficient. Our range of services includes:

Preparation of Income Tax Return

Assessment of Tax Returns

Consultancy in income tax matters & tax planning

TDS & Withholding tax compliance

Income tax Appeals before CIT (Appeals) and Income Tax Appellate Tribunal (ITAT)

Appearance before Investigation Wing of Income Tax Department

Certification and Audit under the Income Tax Act

We deal in providing services under Foreign Exchange Management Act, RBI, Transfer Pricing & Foreign Collaboration services for the aspirants which are tapping global opportunity. Our services include

FEMA related consultancy

Liaisoning office, Project office & Branch office in India

Valuation of shares as per DCF Method

Transfer Pricing

Advisory – Double Taxation Avoidance Agreement

We, at P D Rungta & Co, provide a whole gamut of Corporate Secretarial Services right from formation of an entity, corporate structuring and ensuring periodic compliances. We provide the following services:

Registration of various forms of business entities in India viz. Private company, Public company, Limited Liability Partnership, Non-profit company, One Person Company, Foreign company etc.:

Conversion of one form of business entity into other viz. Conversion of Private/ Public company into Limited Liability Partnership/ One Person Company etc.

Ensuring event based, monthly, quarterly and annual compliances

Merger, Amalgamation and De-merger

Winding up/closure of entities in India or obtaining Dormant status for inactive companies

Seeking approvals for Shifting of registered office, Condonation of Delay and Compounding of Offences

We are engaged in providing societies and trust consultancy to our clients. Our wide range of services includes formation, registration u/s 12A and 80G of income tax act. We offer highly efficient services which are provided at market leading rates.

Formation of Society, Trust & Section 8 company

Registration U/s 12A and 80G of Income tax Act.

Registration under Foreign Contribution Regulation Act (FCRA),viz, Prior approval & Permanent registration.

Registration u/s 35AC of Income-tax Act.

Our Transaction Advisory associates are experts in evaluating accounting, tax, regulatory, legal, management and cultural aspects of the deal. With respect to the same, we provide services in relation to

• Mergers & Acquisitions

• Information Memorandums, Business Plans, Feasibility Plans, Project Reports etc

• Due Diligence Reviews & Compliance Health – Checks

• Financial Valuations & Financial Projections (including FEMA / FDI Compliant Valuations)

• Documentation of Definitive Agreements

We understand complexities of setting-up and running of manufacturing / factory operations in India. Registration & Licenses under various enactments are essential to operate a factory. In addition, various compliances on monthly and annual basis are required to be adhered. Our services in relation to Factories Act, Labour and allied laws advisory & compliances include the following.

• Assistance in obtaining registration/renewal of Fire, Contract Labour, PF, ESI, Pollution, etc

• Record-keeping, maintaining registers, reports and other filings under Factories Act and other allied laws

• Assistance in calculation and deposit of monthly contribution under the Employees’ Provident Fund and Miscellaneous Provisions Act, 1952 (‘PF’) and Employees’ State Insurance Act, 1948 (‘ESI’)

• Monthly, half-yearly and annual filings as per applicable laws

• Obtaining & Maintaining Forms, Registers and other Labour Law Compliance stationary on behalf of the client

We have years of experience in providing business financial services to our clients. Our experts carefully analyze the current situation and accordingly prepare the project reports. Loan arrangement needs are also well taken care by us including cash credit limit, term loan and project loan. We also offer due diligence for finance and valuation of shares.

Preparation of project report

Preparation of CMA Data

Loan arrangement- Cash credit limit, Term loan & Project loan

Due diligence for finance

Valuation of shares of Company

We have a skilled team who help in analyzing and preparing financial information for a court of law. In this field of work, we are engaged to review financial records and information. We also handle insolvency and fraud issues, transaction audit and calculation of economic damages using computer forensics

We are certified as Forensic Auditor under the Insolvency & Bankruptcy Code.

We also offer forensic services like:

• Forensic claims review and adjudication

• Assistance in ongoing monitoring of operations

• Forensic review of specific transactions (Preferential, Undervalued and Extortionate, Fraudulent or Wrongful Trading)

• Due diligence on bidders

• Asset tracing

• Compliance and monitoring of insolvency resolution plan

• Liquidation analysis and support

The new GST regime has opened up an array of opportunities for businesses across India as well as those planning to enter the Indian market. On the other hand, GST has also posed various challenges with respect to business planning, budgeting and investment.

In this evolving indirect tax scenario, we assist our clients in bridging the gap over to GST by providing specialised services to mitigate any GST-related tax risk by providing the following services:

1. GST Tax Risk Management Services

GST Tax Risk Management Service is a comprehensive review program designed to assist GST-registered businesses to ascertain their level of GST risks with regards to the overall control of the business operations.

This review covers the controls surrounding the preparation of the GST returns, output tax and input tax considerations faced by your company. If required, our review program will assess your current accounting system’s functionalities which may potentially produce inaccurate information or errors in the process of preparing the GST returns. With the results of our assessment, we aim to mitigate the risks faced by your company from getting penalized by the CBEC/GST Authorities due to potential errors in the GST submission and reporting.

2. GST Retainer Program

It is important for you to understand clearly the GST treatments and implications on your business to avoid any penalties that may be imposed on your company. Our retainer program is a subscription-based retainer program that allows you to post your GST-related questions for the attention of our team of GST experts. As a subscriber to this program, you will also be notified of all the latest updates or changes in the GST laws, regulations, orders and guides that are published by the CBEC or the GST Council.

3. Technical Opinion on GST Implications

There will be times when your business is faced with uncertainties in identifying the appropriate GST treatments or implications for a particular transaction or arrangement. Such ambiguities may be caused by the complexity of the transaction or it may represent an area that has yet to be extensively covered by the relevant GST laws, regulations, orders or guides published by the CBEC or GST Council. In such cases, we would assist your business in studying the arrangement in detail and providing you with our expert opinion on the issue faced by your business. If required, we will assist your business to make a representation or seek an advance ruling on the matter

4. GST Appeals/Dispute Resolution

If you feel that your business has been wrongly penalized or affected by an adverse decision by the Assessing Officer of GST, we will be able to assist your business in appealing the penalty or against the adverse decision. As authorized representative, we will also be able to assist your business as follows:-

• Apply for advance rulings;

• Appeal your GST dispute at the GST Appeal Tribunal.

5. GST Training and Work Shop

We also provide high level training to those staff and executives who are involved in various processes impacting GST. The training program is tailor made to meet the specific need of an enterprise.

6. GST Refund Processing

We have a dedicated team to undertake the assignment to process the refund of GST from the GST department. This process involves both technical and liasoning aspect of the refund procedure.

7. Other Services related to GST

• Registration/Amendment/Cancellation

• GST Monthly Compliance

• GST Annual Compliance and Audit

• Obtaining LUT