Sharma H. Lal & Co.

We take care of the day to day bookkeeping and prepares monthly or
quarterly management accounts for varied companies and individual
firms. These accounts can be tailored to our client’s specific
requirements including preparation as per US GAAP accounting standards.

We offer valuable auditing and assurance services to a wide clientèle
all across the globe. We can aptly benefit our clients with:

• Statutory Audit: Every company registered in India has
  to get his accounts audited from a chartered accountant every year. We
  have team of professionals to conduct such audits.


• Internal Audit: We have sufficient and capable staff strength to conduct internal
  audits for in depth checking of day-to-day transactions These are
  required by large business organizations.

Our valuable services also takes care of varied law matters regarding
the formation, dissolution or any other matters related with the
company. With our very personalized services, we wish to offer our
clients complete value for their money.

Our services include:

• General advice on company law.


• Company formations.


• Filing of annual returns on your behalf.


• Preparation of all documentation related to minutes and resolutions.


• Maintenance of statutory books.


• Assistance in changes of directors, shareholders, addresses, and office details.


• Bonus Issues.


• Share transfers.


• Registered Office Facility.


• Name change services.


• All other services related to the companies.

We offer tailor made and beneficiary exim consultancy services at very competitive rates.

Import-Export Policy:

Import of goods into and export from India is regulated by the Foreign
Trade Policy (the Policy) issued from time to time by Government of
India. The Policy remains in force for five years and is amended from
time to time. The Policy currently in force is for tax year 2004-09.
Majority of goods are now freely importable.

We help businesses planning cash flow, achieving growth, and getting timely & accurate information to support business decisions. Our objective is to provide our clients with the means to prosper and achieve their greatest potential. Our Company strengthen businesses achieving their financial functions by providing various financial services as:

• Internal Control Reviews.
• Accounting Procedures Documentation.
• Cash Flow Planning and Management.
• Operational Audits.
• Break-Even Analyses.
• Identifying Financing Alternatives.
• Analyzing Financial Capacity.
• Planning, Valuing businesses.
• Due Diligence Reviews.
• Lease-Buy Analyses.
• Forecasts and Projections.

We offer services whenever there is ant acquisition or merger and takes
care of all the financial matters whatsoever. The services we provide
incorporate every stage of the process - from identifying potential
acquisitions, through to the negotiations of the commercial elements of
the transaction, through to forecasting the future of the business.
Incorporated in this is:

• A review of your goals and objectives.


• Due diligence services.


• Preparation of financial forecasts.


• Advice on potential pitfalls and rewards involved in a merger.


• Assistance with purchase negotiations.


• Advice on financing.


• Assistance with preparation of a business plan.

We specialise services in taxation to all knowledge based industries including start ups. We experience
in direct tax issues, viz. international taxation, cross-border tax,
interpretation of tax treaties, transfer pricing, strengthened
businesses in taking decisions. We tuned itself in multi areas of
taxation to provide its clients solutions to various issues to their
day to day matters as well as occasional matters.

• Routine Compliances viz returns filing, opinions etc. both for corporate and non-corporate assessees.


• Ticklish issues viz Tax withholding.


• Representation before Tax Authorities.


• Approvals from Authorities viz custom, CBDT, Income Tax Authorities.


• Transfer Pricing.


• Tax modeling, Tax structuring and advisory Services.


• Planning for achieving Mergers, Acquisitions, Demergers, re-organizations.


• Expatriates Taxation.


• Foreign Direct Investment/ Exchange Control.


• Treaty Interpretation i.e. interpretation on various terms used in DTAA.


• Whealth tax matter including return filing to assesment and appeal.


• Gift tax etc.

The Indirect tax regime in India is a labyrinth of various laws and
regulations, including State specific laws. Our indirect tax
professionals with their wide-ranging experience and in-depth knowledge
help clients in effective planning, which in turn helps in cost
minimization.

• Value Added Tax: We provide all related services in the field of VAT, Central Sales Tax etc.
  
  From 1 April 2005, 21 states of India have replaced local sales tax
  with VAT. The rest of the states are still continuing to impose sales
  tax. The VAT, as introduced by 21 states, is not much different from
  local sales tax regime except that it captures value addition at each
  level of distribution network. The State VAT, as introduced by the
  states, continues to be a tax on sale of goods and does not include
  taxation of services. The standard rate of VAT is 12.5 per cent and
  there is reduced rate of 4 per cent. Besides that, there are exemptions
  and rate of 1 per cent and 20 percent for specified products.




• Custom Duties: We provide all related services in the field
  of Custom and Excise from fresh registration to consultancy assessment
  and appeals.
  
  Customs duties are levied on import of goods into India at the rates
  specified in the Customs Tariff Act, 1975. The effective rates of
  customs duties may vary pursuant to general and/ or specific exemption
  or concession notifications issued by the government in this regard.

We offers business process outsourcing services for Payroll and Accounting services. We develop innovative ways to meet our client's specificneeds. We care
for the people we hire, providing them with new and exciting career
opportunities because people make all the difference in building
shareholder value.

Factors in successfully Outsourcing a Business Process:

• Thoroughly analyze your process so you know your costs, and can
  determine the cost savings of outsourcing over a specific time period.


• Define
  roles and responsibilities in the outsourcing partnership, so there are
  no surprises, and so that goals and expectations are clear to both
  parties.


• Have measurable performance objectives-the speed of
  transactions, the time period to close the books, etc. and establish
  performance incentives, both rewards and penalties, for meeting those
  objectives.


• Develop a detailed transition plan to ensure a smooth hand-off.


• Outsourcing is a major undertaking that benefits from careful advanced planning.

We offer accurate, confidential and cost-effective payroll services
that meet the needs of each unique business. Relying upon us,
outsourcing payroll is quick, secure and easy. We process your payroll
checks and reports and send them to you or make them available on line.

We also offer personalized assistance through a trained payroll
services specialist who is specifically assigned to handle varied needs
of our clients.

• Monthly Payroll Processing.


• TDS and other Statutory Compliance Computation.


• Pay slip generation for each employee.


• MIS reports as per client requests.


• Payroll Query Management.


• Filing of PF, IT , PT and ESI.

Ordinarily, every person liable to pay service tax is required to
register itself with service tax authorities and comply with procedural
requirements like paying taxes, filing returns, etc. We, being a
reliable company assures you of taking complete care of your service
tax matters complying to complete transparency in our services. We provide following service tax services for their service tax clients:

• Registration.


• Record to be maintained and invoice.


• Payment of service tax.


• Classification of services.


• Adjustment of excess service tax paid.


• Credit of service tax paid.


• Interest and penalty.


• Notice and visit by departmental officer.


• Assessment.


• Revision and appeal.


• Refund of tax.

Societies are taxable in the status of AOP and different rates of taxes are applicable to the income of an AOP in different circumstances

1. Individual shares of members in AOP are not determinate:

• Where the total income of any member of the AOP is taxable at a rate higher than the maximum marginal rate-Rate of tax is such higher rate.


• Otherwise - 30%

2. Individual shares of members in AOP are determinate:

• If total income of any member is not higher than Rs 50000/- (excluding share from AOP) and no member is taxable higher than 30%- Rate of tax on total income of AOP is the rate applicable to individuals.


• If total income of any member is higher than Rs 50000/- (excluding share from AOP) and no member is taxable higher than 30%- Rate of tax is 30%


• If any member is taxed higher than 30%, then (a) Tax on the portion of total income of AOP that is relatable to the share of such member is levied at such rate higher than the 30%, (b) tax on the balance total income will be 30%.

Tax exemption for Notifable Charitable Societies U/s 10(23C) (iv) and (v)
Any income of any institution established for charitable purposes is exempt. For getting exemption under these clauses, following requirement must be completed:

• Making an application in Form No. 56


• Applying its income or accumulating it for application, wholly & exclusively to its objects.


• Notice of accumulation u/s 11(2) will have to be given to the assessing officer in Form No. 10.