With a practical approach to service delivery, we respond to clients’ complex business challenges with seamless service across industry and business sectors and national boundaries. We have embarked to extend professional services with meticulous care and efficiency in the areas mentioned hereafter.

AUDIT AND ASSURANCE SERVICES

We provide assurance services to organizations that must submit to an independent audit to comply with statutory or regulatory requirements. Our statutory audit provides assurance on the truth and fairness of an organization's financial information; advice on controls and processing system weaknesses; confirmation of accounting treatments with respect to complex transactions; and specifically addresses any other regulatory reporting requirements such as those under Companies Act, 1956.

Our Internal Audit Services offer a wide range of tailored services and products to enhance corporate governance, manage business risk, provide assurance on control effectiveness, and support the clients in achieving their organization's objectives. Our services enable clients to effectively co-ordinate their key growth, quality and operational challenges - and working in partnership with us, clients have the benefits of our experienced, objective, and industry-grounded viewpoints.
We use a constructive approach in auditing. As a result of understanding the clients' systems, procedures and practices we often recommend improvement for more efficient operation, stronger financial structure and improved accounting and administrative controls. Our philosophy and practice is to blend the technical, the practical and the business approach in each audit engagement.
We ensure that financial statements are free of material misstatement and they comply with accounting standards. We ensure that Systems and Controls are in place. The services offered include:

• Statutory Audits under the Companies Act, 1956

• Internal Audits including Management Audits

• Stock Audits

• IS Audits (Information System Audits)

• Bank Audits including Statutory, Internal, and Concurrent audits

• CAG audits for Public Sector Undertakings

• Financial Reviews

• Tax Audits under section 44AB of the Income Tax Act, 1961

• Audits of Societies, Trusts, Co-operative Societies, Schools, etc.

• Other audits for 80 IA, 80 IB, 10A, etc.

• Investigations

• Debtors’ verification

• Certifications for Transfer Pricing

• Certifications for various other purposes
   

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INCOME TAX SERVICES

Enhancing a shareholder's value is a fundamental concept, which drives every management effort in the modern business environment. Progressive and bottom-line focused managements have realised that taxes (both direct and indirect), should be viewed as a dynamic item of cost rather than a passive charge on the profits.

Indeed, an effective tax-cost management provides a distinct competitive advantage. This requires the application of appropriate tax strategies proactively identified and surgically implemented. We have developed a total tax management capability, which encompasses the entire spectrum of corporate and personal direct taxes. Our approach to tax planning is multi-jurisdictional. We together with our network partners can provide seamless national and international tax advice. The services offered include:

• Assisting the client to organize their cumbersome tax affairs, give them alerts for due date’s deadlines and ensure that all statutory requirements are complied with.

• Providing International Tax advice.

• Managing and consulting on withholding tax issues.

• Managing preparation of tax returns/statements (Income Tax as well as TDS & TCS) and get it filed with relevant authorities within due dates electronically/manually.

• Providing consultancy and managing Fringe Benefit Tax (FBT) issues.

• Managing Client’s regular assessments.

• Managing appeals to higher authorities.

• Assisting in obtaining PAN / TAN.

• Providing corporate and non-corporate legal tax planning.

• Providing up-dation and due dates alerts in electronic media on taxation issues.

• Dove-tailing tax strategies into business plans.

• Structuring the entire business transaction, including preparation of structured tax solutions tailored to meet business objectives.

• Tax modeling, which would involve validation of tax assumptions built into financial and business models.

• Other compliance issues such as tax registration, dealing with issues of withholding tax, certification, etc.
  

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VAT / SALES TAX SERVICES

A diagnostic review or health check is an all-encompassing package offered to our clients. This review helps identify areas of potential exposure and tap opportunities for tax savings. The services offered include:

• Advising on the applicability and levy of Central Sales Tax and VAT or State Sales tax laws in more than 20 places all over India.
  
• Managing to obtain VAT registrations, Sales Tax registrations and its amendments in all major states of India
• Assisting the client to organize their cumbersome tax affairs, give them alerts for due date’s deadlines and ensure that all statutory requirements are complied with.
• Managing the preparation and filing monthly/quarterly/half-yearly/yearly tax returns electronically/manually.
• Managing summary and regular assessments.
• Managing objections/appeals to higher authorities
• Providing legal tax planning.
• Providing up-dation and due dates alerts in electronic media on taxation issues.

For All India VAT/Sales Tax contact at indiavat@lunawat.com

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SERVICE TAX SERVICES

Taxes may not be totally avoidable, but upfront tax planning provided by us, in parallel with the decision making process helps our client attain the desired results. Our professionals are guided by a single, strong underlying philosophy - "helping our clients attain their business objectives". The services offered include:

• Advising on the applicability of service tax.

• Assisting in obtaining service tax registrations / input service distributors registration / amendments.

• Review of contracts and agreements to help mitigate the overall incidence of service tax.

• Managing preparation and deposit of monthly/quarterly service tax dues.

• Managing filing of half-yearly Service Tax Returns

• Advising on availing CENVAT credit.

• Providing up-dation and due dates alerts in electronic media on taxation issues.

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COMPANY LAW RELATED SERVICES

Our services in Company Law Matters are customized in accordance to client’s specific requirements. We assist the client’s from the very initial processes of company incorporaion to company maintenance process, etc. Our services include:

• Managing incorporation of companies through MCA21

• Managing filing of proper documents electronically with Registrar of Companies within due time through MCA21.

• Managing maintenance of statutory records.

• Assisting in Corporate Governance.

• Assisting in registration, modification and satisfaction of charges.

• Assisting in obtaining regulatory permissions and ensuring statutory compliances in respect of Registrar of Companies, Company Law Board, FIPB and Department of Company Affairs.

• Assisting in obtaining Director’s Identification Number (DIN) and Digital Signatures for filing online forms on MCA21.
  

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NGO (NON GOVERNMENT ORGANISATIONS)/SOCIETIES AND TRUST SERVICES

We assist in the registration procedures of Societies and Trusts. We guide our clients through the modes and methods, procedural formalities and the process of documentation. We also counsel them regarding the benchmark required for registration. Our panels of accountants with their sound professional information help organizations to meet the requisite criteria to obtain and avail tax exemptions for noble causes. The services offered include:

• Assisting in obtaining registration of Charitable Trusts.

• Assisting in obtaining registration of Societies under Societies Registration Act.

• Assisting in obtaining registration of Company under Section - 25 of Companies Act, 1956

• Assisting in obtaining registration of NGOs under Income Tax Laws for tax exemptions

• Assisting in obtaining registration of NGOs under Income Tax u/s 80G and its timely renewals

• Guidance on legal compliances on Foreign Contribution Regulation Act.

• Assisting in establishing and monitoring convergence and linkage of program activities and financial management of the NGOs
  

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ACCOUNTANCY SERVICES

We recognize the challenge faced by entities in allocating limited resources to develop an Accounting Procedures Manual. In response, we have created a service that allows an organization to outsource this task. We assist in updating or compiling new documentation of the sequence and details of key accounting function procedures. To improve your financial accounting and keep you abreast of new developments in corporate reporting, our experienced professionals will provide you with a combination of technical advice, support tools, and training of in-house accounting staff. Whether it is a full service accounting and book-keeping plan or quarterly updates and financial statement preparation, we provide accurate and timely services that include:

• Outsourcing of complete accounting job.

• Handling and maintaining Payroll accounting.

• Handling and maintaining Receivable/Payable reconciliations.

• Assisting in bank reconciliation.

• Assisting in finalisation of financial statements.

• Online access and timely reporting via Internet/E-mails.

• Monitor performance against established procedures.

• Help ensure policies and procedures are consistently applied.

• Improve efficiency in training employees during periods of transition.

• Update procedural changes by reorganization or the implementation of a new information system.

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BUSINESS START-UP SERVICES

Our firm pulls together the skill and expertise of professionals with wide educational and legal backgrounds. We work closely with each client and provide our experience and expertise in helping them to decide the status through which he should start-up his business. In addition, clients' needs are efficiently handled through the effective flow of information within the firm and high quality research materials with well equipped library and computer support service. The services offered include:

• Assisting in deciding the framework through which he has to start-up his business.

• Assisting in registration of Private Limited Companies / Public Limited Companies.

• Assisting in registration of Partnership firms and Drafting of deeds.

• Assisting in starting proprietorship concerns.

• Assisting in legal framework of HUFs / AOPs.

• Assisting in registration of Trusts and Drafting of Trust Deeds.

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MANAGEMENT CONSULTANCY

The management consulting services rendered by the firm handles a wide range of problems faced by the clients. These include:

• Assisting in development of accounting, budgeting, forecasting and other information systems and evaluation of alternative financial strategies.

• Assisting in development of systems for cost control and optimum utilisation of economic resources.

• Assisting in recruitment of accounting and finance personnel.

• Providing business valuations for acquisitions, performance analysis, executive compensation, spin offs and taxation.

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OTHER SERVICES

Other services offered by us include:

• Corporate structuring and re-structuring,

• Mergers and Amalgamations,

• Project finance and implementation,

• System & MIS settings and implementation,

• Buy backs,

• Special studies for cost reduction,

• Business re-engineering,

• Due Diligences,

• Co-ordination of multi locational branches,

• Central excise & customs,

• Luxury Tax,

• STP Registrations,

• Finance & Investment Consultancy,

• Liaison with various government and semi-government authorities, ministries, etc.

• IEC allotment,

• Liaison with Reserve Bank of India.