Our Services

Audit Services

Internal Audit

We at Sawhney Verma & Co. carry out internal audit for the entities:
1. To verify the accuracy and authenticity of the financial accounting and statistical records presented to the Management.
2. To ascertain that standard accounting practices are consistently followed by the organization.
3. To facilitate the prevention and detection of frauds.
4. To provide a channel whereby new ideas can be brought to the attention of Management.
5. To bring material departures and non-compliances to the notice of the Management.


Statutory Audit

We at Sawhney Verma & Co. carry out internal audit for the entities:
1. To report on the financial statements which are laid before the company in General Meeting During our tenure of office.
2. To ensure that the financial statements give the information in accordance with the Companies Act or in accordance with the requirements of specific Acts governing certain classes of companies.


Tax Audit

We at Sawhney Verma & Co. carry out tax audit for the following classes of assesses to express an opinion as to whether or not the financial statements audited give a “true and fair view”.
Tax audit is applicable to the following classes of assesses :-
1. Assessee carrying on any business where Total Sales or Turnover or Gross Receipts exceeds Rs.100 Lakhs,or
2. Assessee carrying on profession where Gross Receipts exceeds Rs. 25 Lakhs,or
3. Assessee carrying on business referred to u/s 44AD / 44AE / 44BB / 44BBB and declaring lower Income than prescribed under those sections.


Management/Operational Audit

We at Sawhney Verma & Co. carry out internal audit for the entities :
1. To appraise Management’s accomplishment of organizational objectives and action in moving towards its objectives.
2. To focus on efficiency and economy of operations of management. It also includes suggestions for improvement of accomplishment of objectives of organization.


Risk Based Audit

We at Sawhney Verma & Co. carry out risk based audit for the entities:
1. To provide a framework to reduce the impact of identified risks on the Financial Statements,to an acceptable level before rendering an opinion on the Financial Statements.
2. To afford an opportunity to the Auditee to improve its operations, based recommendations on risks that do not have a current impact on the Financial Statements, but impact the Auditee’s operational strategies and performance in the long run.


Taxation Services

Income Tax

1. Consultancy on various intricate matters pertaining to Income tax.
2. Effective tax management, tax structuring and advisory services.
3. Tax Planning for Corporates and others.
4. Designing / restructuring salary structure to minimise tax burden.
5. Obtaining Advance tax Rulings.
6. Obtaining No Objection Certificates from Income tax department.
7. Obtaining PAN for assessees, employees etc.
8. Advance tax estimation and deposit.
9. Assessing the liability towards deferred taxes.
10. Providing regular updates on amendments, circulars, notifications & judgments.
11. Filing Income Tax and Wealth Tax returns for all kinds of assessees.
12. Filing Income tax returns for employees of corporate clients.
13. Liaison with Income tax department for rectification, assessment, obtaining refunds etc.
14. Expertise in complicated direct tax assessments.
15. Filing and pleading appeals under various provisions of IT Act.
16. Special expertise in search, seizure and prosecution litigation.
17. Opinions on the various Double Tax Avoidance Agreement related issues.


Service Tax

1. Registration under Service tax.
2. Consultancy for maintenance of proper records.
3. Consultancy for proper accounting for Service tax.
4. Consultancy on various issues relating to Service Tax.
5. Compilation of data of Cenvat credit.
6. Assistance in availment of notified Abatements.
7. Utilization and availment of service tax credit in accordance with the Service Tax Credit Rules, 2002.
8. Computation of Service tax payable.
9. Preparation and filing Returns.
10. Getting assessments done.


VAT/SALES Tax

1. Getting Sales Tax Registration under Central Sales Tax Act and Delhi VAT.
2. Consultancy on matters related to Sales Tax including Tax planning.
3. Preparation of VAT (Value Added Tax) returns.
4. Filing of Electronic/Manual VAT returns.
5. Help in obtaining statutory forms.
6. Liaison with VAT authorities.
7. Getting Sales Tax Assessments done.
8. Filing and pleading appeals wherever necessary.


J&K GST

Quality audit is the process of systematic examination of a quality system carried out by an internal or external quality auditor or an audit team. It is an important part of organization's quality management system and is a key element in the ISO quality system standard, ISO 9001.
Quality audits can be an integral part of compliance or regulatory requirements. One example is the US Food and Drug Administration, which requires quality auditing to be performed as part of its Quality System Regulation (QSR) for medical devices.


Central Excise

Quality audit is the process of systematic examination of a quality system carried out by an internal or external quality auditor or an audit team. It is an important part of organization's quality management system and is a key element in the ISO quality system standard, ISO 9001.
Quality audits can be an integral part of compliance or regulatory requirements. One example is the US Food and Drug Administration, which requires quality auditing to be performed as part of its Quality System Regulation (QSR) for medical devices.


Wealth Tax

Quality audit is the process of systematic examination of a quality system carried out by an internal or external quality auditor or an audit team. It is an important part of organization's quality management system and is a key element in the ISO quality system standard, ISO 9001.
Quality audits can be an integral part of compliance or regulatory requirements. One example is the US Food and Drug Administration, which requires quality auditing to be performed as part of its Quality System Regulation (QSR) for medical devices.


Business Taxation

Quality audit is the process of systematic examination of a quality system carried out by an internal or external quality auditor or an audit team. It is an important part of organization's quality management system and is a key element in the ISO quality system standard, ISO 9001.
Quality audits can be an integral part of compliance or regulatory requirements. One example is the US Food and Drug Administration, which requires quality auditing to be performed as part of its Quality System Regulation (QSR) for medical devices.


Financing Services

We have the expertise in big corporate financing, project financing, international level financing, IPO, merger of foreign companies in Indian companies, cost reduction etc.


CORPORATE FIANCING

We deal in big ticket corporate financing at concessional rate and increase the profitability of the corporate. We also handle take over cases in financial planning. We shall give the expert opinion in your business plans and arranging funds at concessional rates.


PROJECT FIANACING

We also handle project financing for the existing groups which want to expand their business activities by opening the new companies of the same promoters. We also deal in foreign companies want to merge in Indian companies and vice versa and make their financial planning at reduced rate of interest.


INTERNATIONAL FINANCING

We have the special expertise for importers and exporters. We arrange funds at very lower rate of interest even at 3 percent p.a. in us dollars in case of imports from foreign banks and the same transaction can be roll over for one year from the date of shipment. This saves huge rate of interest and increase the profitability of the business. This all has been done under RBI guidelines.


IMPORT OF CAPITAL GOODS AT LOWER RATE OF INTEREST

We handle the cases in which the entrepreneur import any machinery from out of India and we arrange the funds at very lower rate of interest even at 4-5 percent per annum from foreign banks and this finance is available for three years.

We also arrange finance to national level groups in multiple banking system. We also believe to arrange the optimum finance as per requirement of the business and for which we also provide the financial consultancy to the groups.
We believe in quality services at best terms and conditions


Legal Consultancy

The service has Principal Accountants General and Accountants General for every State in India. Generally, each state has one Principal Accountant General in charge of audit functions. In addition to Principal Accountant General, each state also has Accountant General in charge of accounts and entitlement functions (Salary, Provident Fund, Pension etc.). Bigger states may have an Accountant General (Audit) in addition to the Principal Accountant General.

NGO/Charitable Trusts

The service has Principal Accountants General and Accountants General for every State in India. Generally, each state has one Principal Accountant General in charge of audit functions. In addition to Principal Accountant General, each state also has Accountant General in charge of accounts and entitlement functions (Salary, Provident Fund, Pension etc.). Bigger states may have an Accountant General (Audit) in addition to the Principal Accountant General.

Society Registration

The Internal Audit Service or IAS is a Directorate-General:
The mission of the IAS is to:
issue independent audit opinions on the quality of management and internal control systems present recommendations aimed at ensuring the efficient and effective achievement of the Commission's objectives

80G, 1 to A Registration

Internal auditing frequently involves measuring compliance with the entity's policies and procedures. However, internal auditors are not responsible for the execution of company activities; they advise management and the Board of Directors (or similar oversight body) regarding how to better execute their responsibilities. As a result of their broad scope of involvement, internal auditors may have a variety of higher educational and professional backgrounds.

SCRA Registration

Audit Representation, also called Audit Defense, is when a tax or legal professional stands in on behalf of a taxpayer during an examination. The IRS and all states allow a taxpayer to have an authorized representative. The representative must have permission to practice before the IRS or state, and specific credentials are required. The types of representatives who are allowed to represent taxpayers before the IRS in income tax audits include attorneys, CPAs, and enrolled agents.


Outsourcing Services

Financial Accounting

Payroll Preparation

1. Preparation of Monthly Salary Sheet.
2. Deductions as per applicable laws like Income Tax, Provident Fund, Professional Tax etc.
3. Computation and deposit of TDS, ESI, PF etc.
4. Disbursement/ Online Payment of Salary.
5. Pay slip by password protected e-mail.
6. Reimbursement of telephone, medical bills etc.
7. Issue of Form 16 to employees.
8. Periodic Reconciliation of payments/statutory deductions etc. with books of accounts.
9. Administration of gratuity, superannuation, pension schemes etc.

Budgeting Services

Accounting System Design & Implementation

MIS reports

Asset Accounting Services


Excise Services

The service has Principal Accountants General and Accountants General for every State in India. Generally, each state has one Principal Accountant General in charge of audit functions. In addition to Principal Accountant General, each state also has Accountant General in charge of accounts and entitlement functions (Salary, Provident Fund, Pension etc.). Bigger states may have an Accountant General (Audit) in addition to the Principal Accountant General.

SCRA Registration

Audit Representation, also called Audit Defense, is when a tax or legal professional stands in on behalf of a taxpayer during an examination. The IRS and all states allow a taxpayer to have an authorized representative. The representative must have permission to practice before the IRS or state, and specific credentials are required. The types of representatives who are allowed to represent taxpayers before the IRS in income tax audits include attorneys, CPAs, and enrolled agents.

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