Broadly, Audit Involves the Following:

• In-depth study of existing systems, procedures and controls for proper understanding. Suggestions for improvement and strengthening.
• Ensuring compliance with policies, procedures and statutes.
• Comprehensive review to ensure that the accounts are prepared in accordance with Generally Accepted Accounting Policies and applicable Accounting Standards/IFRS.
• Checking the genuineness of the expenses booked in accounts.
• Reporting inefficiencies at any operational level.
• Detection and prevention of leakages of income and suggesting corrective measures to prevent recurrence.
• Certification of the books of account being in agreement with the Balance Sheet and Profit and Loss Account.
• Issue of Audit Reports under various laws.

Types of Audits Conducted

• Statutory Audit of Companies
• Tax Audit under Section 44AB of the Income Tax Act, 1961.
• Audit under other sections of the Income Tax Act, 1961 such as 80HHC, 80-IA, etc.
• Audit of Charitable Trusts, Schools, etc.
• Audit of Co-operative Societies.
• Internal Audits.

• Consultancy on various intricate matters pertaining to Income tax.
• Effective tax management, tax structuring and advisory services.
• Tax Planning for Corporate and others.
• Designing / restructuring salary structure to minimize tax burden.
• Obtaining No Objection Certificates from Income tax department.
• Obtaining PAN for assesses, employees etc.
• Advance tax estimation and deposit.
• Assessing the liability towards deferred taxes.
• Filing Income Tax for all kinds of assesses.
• Filing Income tax returns for employees of corporate clients.
• Liaison with Income tax department for rectification, assessment, obtaining refunds etc.
• Expertise in complicated direct tax assessments.
• Filing and pleading appeals under various provisions of IT Act.
• Advice on future tax implications in respect of the potential acquisition.
• Opinions on the various Double Tax Avoidance Agreement related issues.

• Advise under Goods and Services Tax laws.
• Advise under VAT laws.
• Advise under Services Tax laws.
• Compliance and filings under GST, VAT and Service Tax Legislations.

Starting a new business is an exciting and challenging event. As India grows, the competitive space gets more crowded and the scope for missteps gets smaller and smaller. Entrepreneurs have often found themselves “ready to go” with a business plan, only to find out that there are critical financial and legal implications that they haven’t yet considered.

Kohari & Associates assists companies in their India strategy with the following services:

• Market study and strategic analysis.
• Structuring an entity.
• Business plan building.
• Company formation and government approvals.
• Memorandum and articles of association.
• Registration with multiple direct and indirect tax authorities.
• Other registrations required for employers, for manufacturers, for service providers, etc.
• Provident fund / pension registrations, ESIC, Shops & Establishments Act registrations, etc.
• Tax planning and scenario analysis.
• Ongoing accounting and payroll support.

Legal & Compliance

• Formation of Partnership Firm, Limited Liability Partnership, Private Limited Company and Trust.
• Formation of Partnership Firm, Limited Liability Partnership, Private Limited Company and Trust.
• Compliance in relation to the above said services.
• Statutory Audit for Private Limited Company as per Companies Act, 2013
• Memorandum of Associations, Articles of Associations, LLP Agreements, Board Resolutions and LLP Resolutions.
• Statutory Compliance and Other Annual Compliance in relation to LLP Act 2008.
• Handing Notices in regards to LLP and Company.

Certificates & Licenses

• Certificates in regards to MSME (Micro, Small & Medium Enterprise Certificate).
• Import Export Code Certificate (IEC).
• GUMASTA (Business Establishment Certificate).
• RERA Certification.

Agreements & Drafting Legal

• Partnership Agreement.
• LLP Agreement.
• Franchise Agreement.
• Leave and License Agreement.
• Employer Contracts.
• Deeds.
• Affidavits.
• Memorandum of Understanding.
• Indemnity Bonds.
• Wills.
• Notices.

• Accounting System Design & Implementation.
• Financial Accounting.
• Budgeting.
• Financial Reporting.
• MIS Reports.
• Financial Analysis.
• Asset Accounting Management.
• Depreciation and Amortization Schedules.