AGGARWAL VARUN & CO

Sector 31, Gurugram, Delhi

�Aggarwal Varun & Co.� has risen to the challenges of the business demands of today and provides a range of Corporate Advisory Services under one roof. Our Service Range covers several corporate responsibilities such as : Assurance Services Due diligence Opinions on Indian Accounting Standards and International Financial Reporting Standards (IFRS) Conversion from Indian GAAPs to IFRS Risk Advisory and Consulting Internal Control Reviews Risk Assessment and Clause 49 Implementation Design, implementation and review of accounting manuals Corporate Advisory In addition to this we also offer the following : Company Law Matters & Secretarial Services Formation of Indian and Offshore Companies Setting up Liaison Offices Branch Offices and Project Offices Advice on various matters under the Companies Act, 1956 including appearance before the Company Law Board. Drafting and maintenance of minutes of Board and Shareholders meeting Maintenance of statutory records and registers Assistance in preparation and filing of various forms and returns with the Registrar of Companies Assisting in Winding-up of companies/striking off the name from the Registrar of Companies under the Act.

We provide some refined and accurate Information System Auditing services. Our information technology auditing services are strategically devised to offer the perfect solutions to the customers� problems. We are widely acknowledged for our IT auditing services in India. Information System Audit & SOX Compliance : Information System Audit SOX Advisory Services Information System Audit : An information systems audit is an examination of the controls within an Information technology (IT) infrastructure. An IT audit is the process of collecting and evaluating evidence of an organization's information systems, practices, and operations. The evaluation of obtained evidence determines if the information systems are safeguarding assets, maintaining data integrity, and operating effectively and efficiently to achieve the organization's goals or objectives. These reviews may be performed in conjunction with a financial statement audit, internal audit, or other form of attestation engagement. IT audits are also known as automated data processing (ADP) audits and computer audits. They were formerly called electronic data processing (EDP) audits. Types of IT Audits : Systems and Applications : An audit to verify that systems and applications are appropriate, are efficient, and are adequately controlled to ensure valid, reliable, timely, and secure input, processing, and output at all levels of a system's activity. Information Processing Facilities : An audit to verify that the processing facility is controlled to ensure timely, accurate, and efficient processing of applications under normal and potentially disruptive conditions. Systems Development : An audit to verify that the systems under development meet the objectives of the organization and to ensure that the systems are developed in accordance with generally accepted standards for systems development. Management of IT and Enterprise Architecture : An audit to verify that IT management has developed an organizational structure and procedures to ensure a controlled and efficient environment for information processing. Client/Server, Telecommunications, Intranets, and Extranets : An audit to verify that controls are in place on the client (computer receiving services), server, and on the network connecting the clients and servers. Note : At AVC some of our key professionals are holding diploma in ISA from ICAI to conduct the Information System Audit.

We are proud to offer credible Income Tax Service as part of our Direct Tax Service. Our Income Tax Service is high praised by our clients for the ease and efficiency with which we offer them. Other details of the service are listed below : Indian Income Tax has categorized the assesses into the following status : Individual Hindu Undivided Family Company Association Of Persons Body Of Individuals Firms Co-operative Societies The tax rates under Income Tax Act are different for each type of the assesses mentioned above. In India the financial year runs from 1st April to 31st March. Further more Indian revenue authorities follow a residence based taxation system under each category. Broadly, taxpayers may be classified as residents or non-residents. Individual taxpayers may also be classified as 'residents but not ordinary residents'. �Domestic company� means a company which in respect of its income liable to tax under the Income Tax Act, has made prescribed arrangement for the declaration and payment of dividends in India in accordance with section 194. Any other company would be a �foreign company�. Heads of Income : The income of an assesse is divided into the five under mentioned categories : Salaries Income from house property Profits and gains from business or profession Capital gains Income from other sources Note : At AVC we offer to provide the under mentioned services : Corporate Taxation Consultancy Individual Taxation Consultancy NGO Taxation Consultancy Interaction with Revenue authorities on behalf of our client

As part of our Direct Tax Service, we offer reliable TDS Return Service that is provided by expert and experienced professionals. We are authorized by the National Securities Depository Limited (NSDL) as TIN-Facilitation Centre to provide the following services to the assesse : Submission of PAN Application Submission of TAN Application Submission of E-TDS/TCS Returns Submission of Income Tax Returns TDS View facilities i.e. Form 26AS PAN : Every assessee who is liable to pay income tax in India is required to get Permanent Account Number (PAN) from the Income Tax Department. The Income Tax Department has authorized the National Securities Depository Limited (NSDL) to do PAN services through its chain of TIN-Facilitation Centres (TIN-FCs) across the country. Applicants can obtain the application form for PAN (Form 49A) and 'Request for New PAN Card or/and Changes or Correction in PAN data' in the format prescribed by Income Tax Department (ITD) from TIN-FCs. Applicants may go through the instructions and guidelines mentioned along with the forms before filling and submit the duly filled and signed form to any TIN-FC. NSDL will upload the digitized PAN application data to ITD. ITD will allot PANs for which NSDL will make PAN cards and dispatch the same along with PAN allotment letter to the respective applicants. Applicants specifying their valid e-mail ID in the application form will receive their PAN through e-mail in addition to the PAN allotment letter sent by NSDL. Applicants may track the status of their PAN application on www.tin-nsdl.com based on the Acknowledgment Number after five days of application. The fee for processing of PAN application and Request for New PAN Card or/and Changes or Correction in PAN data will be Rs.67/- (Rs.60/- plus service tax as applicable, which is currently @12.36%). TAN : An assessee who is required to deduct the Income Tax (TDS) at the time of payment to its vendor will have to get the Tax Deduction Account No. (TAN) from the Income Tax Department within a prescribed time limit. The Income Tax Department has authorized the National Securities Depository Limited (NSDL) to do PAN services through its chain of TIN-Facilitation Centres (TIN-FCs) across the country. Applicants can obtain the application form for TAN (Form 49B) and 'Request for New TAN Card or/and Changes or Correction in TAN data' in the format prescribed by Income Tax Department (ITD) from TIN-FCs. Applicants may go through the instructions and guidelines mentioned along with the forms before filling and submit the duly filled and signed form to any TIN-FC. NSDL will upload the digitized TAN application data to ITD. ITD will allot TANs for which NSDL will dispatch the TAN allotment letter to the respective applicants. Applicants may track the status of their TAN application on www.tin-nsdl.com based on the Acknowledgment Number after ten days of application. The fee for processing of TAN application and Request for New TAN Card or/and Changes or Correction in TAN data will be Rs.56/- (Rs.50/- plus service tax as applicable, which is currently @12.36%). E-TDS : Assesses (both corporate and non-corporate deductors) making payments (specified under Income Tax Act) to their vendors (deductees) are required to deduct tax at source (TDS) from these payments and deposit the same at any of the designated branches of banks authorized to collect taxes on behalf of Government of India. They should also furnish quarterly TDS returns containing details of deductee(s) and challan details relating to deposit of tax to ITD. As a part of automation of collection, compilation and processing of TDS returns ITD has notified an "Electronic Filing of Returns of Tax Deducted at Source Scheme, 2003". It is applicable to all deductors furnishing their TDS return in electronic form. As per this scheme : It is mandatory (w.e.f. June 1, 2003) for corporate deductors to furnish their TDS returns in electronic form (e-TDS return). From F.Y. 2004-2005 onwards furnishing TDS returns in electronic form is also mandatory for government deductors in addition to corporate deductors Deductors (other than government and corporates) may file TDS return in electronic or physical form. National Securities Depository Ltd. (NSDL) as the e- TDS Intermediary (appointed by ITD) receives, on behalf of ITD, the e-TDS returns from the deductors. Deductors can submit e-TDS returns through TIN-Facilitation Centres (TIN-FC) established by NSDL or directly upload through NSDL web-site. E-TCS : TCS means collection of tax at source by the seller (collector) from the buyer (collectee/payee) of the goods (like timber obtained under forest lease, scrap, any other forest produce not being timber or tendu leaves etc., ). The seller will deposit the tax collected at source (TCS) at any of the designated branches of the authorized banks. Following the automation of TDS returns in 2003, ITD has now notified an "Electronic Filing of Returns of Tax Collected at Source Scheme, 2005". It is applicable to all deductors furnishing their TCS return in electronic form. As per this scheme : It is mandatory for corporate and government deductors to furnish their TCS returns in electronic form (e-TCS return) from F.Y. 2004-2005 onwards. Deductors (other than government and corporates) may file TCS return in electronic or physical form. NSDL as the e-TCS Intermediary (appointed by ITD) receives, on behalf of ITD, the e-TCS returns from the deductors. Deductors furnishing e-TDS/ e-TCS returns are required to furnish a control sheet in Form no. 27A/ 27B in physical form along with the e-TDS/e-TCS return furnished in CD/floppy. Form 27A is a summary of TDS return (Form 24Q, 26Q or 27Q), which contains control totals of 'Amount Paid' and 'Income tax deducted at source' and �Total Tax deposited�. Form 27B is a summary of e-TCS return (Form 27EQ) which contains 'Amount Paid' and 'Income Tax Collected at Source' and �Total Tax deposited�. The control totals mentioned on Form 27A/ 27B should match with the corresponding control totals in e-TDS/e-TCS return file. Form 27A is required to be furnished separately for each TDS return (Form 24Q, 26Q or 27Q). Form 27B is required to be furnished separately for each TCS return (Form 27EQ) NSDL has developed a freely downloadable utility called File Validation Utility to verify whether the e-TDS/e-TCS return files prepared by the deductors/ collectors conform to the prescribed format. Note : We at AVC are authorized by NSDL as Tin-Facilitation Center.

We are proud to offer credible Transfer Pricing Service, which can solve out any and every transferring issues faced by companies in this era of globalization and multi nationals. The government has worked out statutory framework under the banner of Transfer Pricing REgu for the same by offering perfect formula for fair value of transaction and tax thereon. We also provide credible consultancy, documentation and allied Transfer Pricing Services. Some of the major points of recently inducted Transfer Pricing Regulation are listed below : Up to date maintenance of each international transactions as per prescribed rules Income of company through international transactions to be calculated at arm�s length price An arm�s length price can be calculated on basis of nature and type of transactions The method of calculating this tax can be chosen by client keeping in mind prescribed rules If two or more prices are involved in international transaction then average of both prices shall be considered for tax A form 3CEB duly audited by a Chartered Accountant in a prescribed time limit, shall be submitted by the company at the end of the financial year We employ following methods to calculate Arm�s Length Price : Comparable uncontrolled price method (CUP Method) Resale price method Cost plus method Profit Split method Transactional net margin method.

As part of our Indirect Taxes Services, we offer credible Service Tax Return Preparation Service which covers major aspects related to preparation of documents and other material for filing of service tax returns. Some of the major points of our service are listed below : Procedure : Every assessee shall submit a half yearly return in From �ST-3� or �ST-3A�, as the case may be, along with a copy of the Form TR-6, in triplicate for the months covered in the half-yearly return. Every assessee shall submit the half yearly return by the 25th of the month following the particular half-year. An assessee may submit a revised return, in Form ST-3, in triplicate, to correct a mistake or omission, within a period of sixty days from the date of submission of the return.

We are very proud to offer professional Service Tax Registration Service, as part of our Indirect Taxes Services Range. The other details of our service are listed below : Deposit of Service Tax : Service Tax shall be deposit within 5 days form the end of the month in which service tax collected by the service provider for the period April to February. And for the month of March the tax so collected shall be deposit before the end of the month. While payment of service tax the assessee can also take the benefit of service tax paid on its input services. The benefit of input service tax paid is to be according to the Cenvat Credit rules framed under the Act. Procedure : Every person liable for paying the service tax shall make an application to the concerned Superintendent of Central Excise in Form ST-1 for registration within a period of thirty days from the date on which a person commences the business of providing a taxable service. The registration shall be granted by the Commissioner of Central Excise in whose jurisdiction the premises or offices, from where centralised billing or accounting is done, are located. Where an assessee is providing a taxable service from more than one premises or offices, and does not have any centralized billing systems or centralized accounting systems, as the case may be, he shall make separate applications for registration in respect of each of such premises or offices to the jurisdictional Superintendent of Central Excise. Where an assessee is providing more than one taxable service, he may make a single application, mentioning therein all the taxable services provided by him, to the concerned Superintendent of Central Excise. The Superintendent of Central Excise shall after due verification of the application form, or an intimation under sub-rule (5A), as the case may be], grant a certificate of registration in Form ST-2 within seven days from the date of receipt of the application [or the intimation]. If the registration certificate is not granted within the said period, the registration applied for shall be deemed to have been granted. Where there is a change in any information or details furnished by an assessee in Form ST-1 at the time of obtaining registration or he intends to furnish any additional information or detail, such change or information or details shall be intimated, in writing, by the assessee, to the jurisdictional Assistant Commissioner or Deputy Commissioner of Central Excise, as the case may be, within a period of thirty days of such change. Where a registered assessee transfers his business to another person, the transferee shall obtain a fresh certificate of registration. Every registered assessee, who ceases to provide the taxable service for which he is registered, shall surrender his registration certificate immediately [to the Superintendent of Central Excise.

At the time of sale of goods the seller has to charge the Value Added Tax/Sales Tax on the value of goods from the buyer. The tax so collected shall be deposited in the authorized banks on behalf of the department within a specified time limited prescribed in the Act. At present most states of India have replaced local sales tax with VAT. The VAT 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. Our VAT Service Range Includes : Sales Tax Registration Preparation of Sales Tax Returns Calculation of monthly sales tax liability and deposition of the same Reconciliation of the sales tax challans with books of accounts Value Added Tax Audit Sales Tax Assessment

As part of our Auditing Service, we offer credible Statutory Auditing Service. Every company registered in India has to get his accounts audited from a chartered accountant every year. Under various statutes the business or entity has to get accounts audited. We carry out the same e.g. Companies Act, Banking Regulation Act (Branch audits), Non Profit organizations etc. Why our Statutory Auditing Service? Offered by experts Complies to Indian auditing procedures Reliable service Timely completion of project Widely Availed by : Companies Corporate houses

We are one of the well-known providers of internal audit services in India. Our corporate internal audit services are highly admired by all our clients due to their high reliability as well as effectuality. As per the statutory requirement and for in-depth checking of day to day transactions, large business organizations require Internal Audit. In System Audit we offer to provide the system study of the organization which results into the better control and efficient utilization of the resources. Why our Internal Auditing Service? Offered by expert CA professionals Designed to fulfill statutory internal auditing criteria Day today checking of transactions Best control and utilization of resources Widely Availed by : Big corporate houses Business giants Industrial manufacturing units

We are proud to offer credible Tax Auditing Service, as part of our Auditing Service Range. Every assessee, whose turnover of a business exceeds Rs 40 Lakhs or total receipts from any specified profession exceeds Rs 10 Lakhs in any previous year, is required to get his accounts audited under section 44AB of the Income Tax Act, 1961. Why our Tax Auditing Service? Professional approach Credible service Covers various practical and legal aspects Best available in the market Widely Availed by : Corporate houses Business giants Multinational companies

As part of our BPO Services, we offer credible Import Export Registration Service, which covers major aspects of any type of Import Export Transaction. Other details related to the service are mentioned below : IEC Code Overview : IEC Code is unique 10 digit code issued by DGFT � Director General of Foreign Trade , Ministry of Commerce, Government of India to the Companies. To import or export in India, IEC Code is mandatory. No person or entity shall make any Import or Export without IEC Code Number. Registration : An application for grant of IEC number shall be made by the Registered/Head Office of the applicant and apply to the nearest Regional Authority of Directorate General Foreign Trade, the Registered office in case of company and Head office in case of others, falls in the �Aayaat Niryaat Form - ANF2A� and shall be accompanied by documents prescribed therein. In case of STPI/ EHTP/ BTP units, the Regional Offices of the DGFT having jurisdiction over the district in which the Registered/ Head Office of the STPI unit is located shall issue or amend the IECs. Only one IEC would be issued against a single PAN number. Any proprietor can have only one IEC number and in case there are more than one IECs allotted to a proprietor, the same may be surrendered to the Regional Office for cancellation. IEC Code Online Application Form : The application can be download Form in PDF or Word. This is called "Aayaat Niryaat Form - ANF2A". Along with IEC Code Number Application Form it is necessary to submit Appendix-18B Attested by Applicant's Banker in his letter head with two passport size photo). An IEC number allotted to an applicant shall be valid for all its branches/divisions/units/factories as indicated in the format of IEC. Where an IEC Number is lost or misplaced, the issuing authority may consider requests for grant of a duplicate copy of IEC number, if accompanied by an affidavit. If an IEC holder does not wish to operate the allotted IEC number, he may surrender the same by informing the issuing authority. On receipt of such intimation, the issuing authority shall immediately cancel the same and electronically transmit it to DGFT for onward transmission to the Customs and Regional Authorities. Application Fee For IEC Code Number : Rs 250.00 Mode of Payment : In Demand Draft of any Bank or Payment through EFT (Electronic Fund Transfer by Nominated Bank by DGFT Like HDFC Bank, ICICI Bank, State Bank of India, UTI Bank, Punjab National Bank, Central Bank etc) or Application fee can deposited by TR6 Challan with Duplicate Copy in any branch of Central Bank of India and TR6 Challan need to be submit along with IEC Code Application. Filing of Application : Application can be filed online in DGFT website. Every application for an Import/Export license/ certificate/ Authorization/ permission or any other purpose should be complete in all respects as required under the relevant provisions of the Policy/Procedures and shall be signed by the applicant as defined in paragraph 9.9 of the Policy. An incomplete application is liable to be rejected giving specific reason for rejection. However in case of manual applications, the applicant would furnish a soft copy of the application in MS word format. Profile of Importer/ Exporter : Each Importer/Exporter shall be required to file importer/ exporter profile once with the Regional Authority in Part 1 of �Aayaat Niryaat Form - ANF2A�. Regional Authority shall enter the information furnished in Part 1 of �Aayaat Niryaat Form ANF-2A� in their database so as to dispense with the need for asking the repetitive information. In case of any change in the information given in Part 1 of �Aayaat Niryaat Form ANF-2A�, importer/exporter shall intimate the same to the Regional Authority. IEC No : Exempted Categories The following categories of importers or exporters are exempted from obtaining Importer - Exporter Code (IEC) number : Importers covered by clause 3 (1) [except sub-clauses (e) and (l)] and exporters covered by clause 3(2) [except sub-clauses (i) and (k)] of the Foreign Trade (Exemption from application of Rules in certain cases) Order, 1993. Ministries/Departments of the Central or State Government. Persons importing or exporting goods for personal use not connected with trade or manufacture or agriculture. Persons importing/exporting goods from/to Nepal provided the CIF value of a single consignment does not exceed Indian Rs.25, 000. Persons importing/exporting goods from/to Myanmar through Indo-Myanmar border areas provided the CIF value of a single consignment does not exceed Indian Rs.25, 000. However, the exemption from obtaining Importer-Exporter Code (IEC) number shall not be applicable for the export of Special Chemicals, Organisms, Materials, Equipment and Technologies (SCOMET) as listed in Appendix- 3, Schedule 2 of the ITC(HS) except in the case of exports by category(ii) above. Mandatory Requirements to apply for IEC Code Number : PAN Number Current Bank Account Bankers Certificate IEC Code Number Application Fee Rs 250.00 (Expert TIP) : Pay via EFT (Electronic Fund Transfer ), and submit IEC Online Application form, If you wish to receive IEC Number instantly) The physical application containing required documents should reach DGFT RLA concerned within 15 days of its online submission. E-mail is not mandatory. If it is provided it will facilitate faster communication. Check List of Documents to apply for IEC Code : Covering Letter on your company's letter head for issue of new IEC Code Number. Two copies of the application in prescribed format ( Aayaat Niryaat Form ANF 2A ) must be submitted to your regional Jt.DGFT Office. Each individual page of the application has to be signed by the applicant. Part 1 & Part 4 has to be filled in by all applicants. In case of applications submitted electronically. No hard copies of Part 1 may be submitted. However in cases where applications are submitted otherwise, hard copy of Part 1has to be submitted. Only relevant portions of Part 2 need to be filled in. Rs 250.00 Bank Receipt (in duplicate)/Demand Draft/EFT details evidencing payment of application fee in terms of Appendix 21B. Certificate from the Banker of the applicant firm in the format given in Appendix 18A. Self-certified copy of PAN issuing letter or PAN (Permanent Account Number) Card issued by Income Tax Authority. Two copies of passport size photographs of the applicant duly attested by the Banker of the applicant. Self-addresses envelope with Rs.25/- postal stamp for delivery of IEC certificate by registered post or challan/DD of Rs.100/- for speed post.

A result-oriented audit can provide the impetus for positive change. The Management Audit is a more recent concept. It focuses on results, evaluating the effectiveness and suitability of controls by challenging underlying rules, procedures and methods. Management audits, which are generally performed internally, are compliance audits plus cause-and-effect analysis. When performed correctly, they are potentially the most useful of the evaluation methods, because they result in change. Why our Management Audit Service? Offers impetus for positive change Evaluates the feasibility and practicality of system Provides better cause and effect analysis Offered by Qualified professionals Widely availed by : NGO Multinational corporations Governmental agencies

As part of our BPO Service Range, we offer credible Application Filing Service for PAN and TAN No. Our PAN & TAN No. Application Filing Service is very popular among our clients because of the professional approach with which we offer them. We also provide customized solutions to our clients for filling service for TAN and PAN Applications. Why our Application Filing Service? Provided by experts Covers varied legal and other aspects related to PAN and TAN registration Customized to best suit all requirements of clients Provided by experts Widely availed by : Business organizations Corporate institutions Multinational organizations

We stand as a well-known provider of Financial Accounting services in India. Reliable, efficacious and prompt are the best features of our financial accounting outsourcing services. In financial accounting we offer to provide the under mentioned services : Creation of Account Masters and Codes Book Keeping Maintenance of Accounts Preparation of Vouchers Reconciliation of Bank Statements Preparation of Trial Balance Preparation of Balance Sheet and Profit and Loss accounts. Debtor control Management Inventory Control Management Review of Accounting systems and procedures. Preparation of Accounting Manuals & System Manuals. Design, Installation or Review of Financial Management. Note : We also offer the financial accounting services to the global customers in various countries Like in USA, UK, and Australia.

As part of our BPO Services, we offer credible Fixed Assets Register Service, which is very popular among our clients because of our professional approach. In India it is mandatory for the companies to maintain a Fixed Assets Register of all its assets in a minimum prescribed format. In this regard we offer to provide the following services : Fixed Assets Register maintenance in the prescribed format. Accounting of Capitalization in initial years of the company as well as at the time of expansion or addition of projects/plants. Time-to-Time reconciliation of Financial books Vs Fixed Assets Register.

We have achieved expertise in providing Payroll Processing to our clients. We provide innovative solution that drives more values from our clients. The payroll processing outsourcing services that we provide is of high standard. We take a holistic and end to end approach that has made us one of the leading payroll services in India. In payroll process services we cover all the services which relates to it like some of them are mentioned hereunder : Design of salary structures to save the income tax both at the employee and employer end. Preparation of the monthly payroll. Preparations of pay slips. Maintenance of salary registers. Preparation and filing of annual returns for all statutory dues related to payroll like PF, ESI, etc. Preparation of Form 16 for the employees. Preparation and submission of Quarterly e-TDS returns. Computation of Income Tax on salary of all the employees. Reconciliation of payments/statutory deductions etc. with books of accounts on quarterly basis.

With our emphasis on performance improvements and focused business insight we excel in providing outstanding Physical Verification services. We provide timely services of physical verification of stocks. For better control on inventories of the company, we offer to provide the following services : Regular physical verification of stock of the company on test check basis or in toto. Reconciliation of stock with the book balances. Reporting of all the deviations, if any and adjustment thereof in the financial books.

We also provide ecstatic services for employees Provident Fund. With timely execution and complete responsibility we provide excellent employment provident fund services in India. As per Provident Fund Act, every establishment whose number of employees exceeds the specified minimum number of employees and below whose salary is below the specified amount, will have to deduct at a specified rate mentioned in the Act and deposit the same along with the employer share which is equivalent to the amount deducted from the employee�s salary. Our Provident Fund Service covers the following : Calculation of Monthly deduction of PF and ESI, employees share as well employer share. Timely Deposition of amount so calculated. Timely Preparation and submission of returns. Reconciliation of challans Vs balances in books of accounts. Ensuring the whole compliance of the Act. Transfer or Withdrawal of PF amount at the time of leaving of the employees.

Nowadays most of the big organizations are taking help of the professional firms in preparing their operational procedural manual to achieve their vital objective to utilize the available resources in the optimum manner. We also offer similar services to our esteemed clients. Our Standard Operating Procedures services help clients get the perfect solutions to their problems and perform better. Standard operational procedures have kick started the organizations and have brought positive results for many clients. We at AVC qualified technical experts in different fields of a business organization for carrying out the critical analysis of the key processes of an organization and preparing the procedural manuals for the same. Our SOP Services covers following functional areas : Accounting Financing Production Human Resource Management Maintenance of Machines Payroll

We offer dependable Company Formation Service which covers varied legal, managerial and other aspects which are listed below : Overview : Companies are governed in India by Companies Act, 1956. Every company is required to get register themselves with the Registrar of Companies in India (ROC) and file the necessary documents for various statutory requirements. Types of companies : There are normally two types of Companies. One is Private Limited Company and the other is Public Limited Company which are limited by liability and the shareholders are liable upto the unpaid value of their shares holdings. Private Limited Company : Maximum numbers of members are 50 and prohibit any invitation to the public to subscribe any shares or debenture, restrict the right to transfer its shares. Public Limited Company : Invite public to subscribe shares or debentures and any number of members or other than private limited companies. Procedure and documents required for setup a company in India : Procedure to be adopted for formation of private limited company : Apply for the Director Identification No. (DIN) by the proposed Directors. Obtain digital signature by at least one proposed director. Application to be made to the concerned ROC to ascertain the availability of name in Form 1 A along with a fee of Rs. 500/-. If proposed name is not available (as not already registered with the ROC) apply for a fresh name on the same application. Drafting of the Memorandum and Articles of Association, after getting the name approval by ROC and printing of the same. Stamping of the Memorandum and Articles with the appropriate stamp duty. Get the Memorandum and Articles signed by at least two subscribers in his own hand, his father's name, occupation, address and the number of shares subscribed for and witnessed by at least one person. Get the following forms duly filled up and signed : Declaration of compliance - Form-1 Notice of situation of registered office of the company - Form-18. Particulars of Director, Manager or Secretary - Form-32. Present the following documents with ROC with filing fee and registration fee : Declaration of compliance - Form-1 Form-1, 18 & 32 in duplicate. Name availability letter issued by ROC. Power of Attorney from the subscribers in favour of any person for making corrections on their behalf in the documents and papers filed for registration. Obtain Certificate of Incorporation from ROC. Additional procedure to be followed for formation of Public Limited Company : Consent of Directors to act as such in Form No.29. Arrange for payment of application and allotment money by Directors on shares taken or agreed to be taken. File the statement in lieu of prospectus with ROC in schedule-iv of the Companies Act. File a declaration in Form-20 duly signed by one of the Director. Obtain the Certificate of Commencement of Business. Further procedure to be followed for formation of Private Limited Company : At least two directors are required to form a company. Minimum capital for a private company is Rs. 1, 00, 000. Registration fee is payable by demand draft which is according to the size of the authorized capital of the company. Non-resident interest in the company is governed by the Foreign Exchange Management Act according to it a Non Resident can invest up to 100% which again based upon the type of industry. Commencement of Business operations in India : After getting incorporation certificate from Registrar of Companies (Procedure as mentioned above) and other formalities, if any the Company can start its business operations.

We are proud to offer credible Limited Liability Partnership Formation Services, which are praised by clients for the transparency and professional approach, with which provide them. Available in customized form, our Limited Liability Partnership Formation Services are able to cater to any and every need and demand of our clients. What is a Limited Liability Partnership Company? A limited liability partnership (LLP) in India is similar to a general partnership, except the partners are not personally liable for negligent acts conducted by other partners or employees not under their supervision. This is different from a general partnership, in which each partner is liable for the debts and obligations of the business as well as the malpractice of any other partner. Income taxes in an LLP are passed through the business and reflected on the partners� individual tax returns. Because of the limited liability of each partner and pass-through tax status, LLPs are a very popular business structure. LLP, a legal form available world-wide is now introduced in India and is governed by the Limited Liability Partnership Act 2008, with effect from April 1, 2009. LLP combines the advantages of ease of running a Partnership and separate legal entity status and limited liability aspect of a Company. Here are some of the main features of a LLP LLP is a separate legal entity separate from its partners, can own assets in its name, sue and be sued. Partnership Stakes and responsibilities : Unlike corporate shareholders, the partners have the right to manage the business directly. One partner is not responsible or liable for another partner�s misconduct or negligence. Minimum of 2 partners and no maximum. Should be �for profit� business. Perpetual succession. The rights and duties of partners in LLP will be governed by the agreement between partners and the partners have the flexibility to devise the agreement as per their choice. The duties and obligations of Designated Partners shall be as provided in the law. Liability of the partners is limited to the extent of his contribution in the LLP. No exposure of personal assets of the partner, except in cases of . LLP shall maintain annual accounts. However, audit of the accounts is required only if the contribution exceeds Rs. 25 lakhs or annual turnover exceeds Rs.40 lakhs. Why Limited Liability Partnership Company? A LLP is indeed advantageous because of comparatively lower cost of formation, lesser compliance requirements, easy to manage and run and also easy to wind-up and dissolve, no requirement of minimum capital contributions, partners are not liable for the acts of the other partners and importantly no minimum alternate tax (as of date). But, LLP cannot raise money from the public. Likely users of the LLP : The �Limited Liability Partnership� (LLP) format of registered company was originally created to enable the professions to take advantage of limited liability, but its popularity is growing among a much wider range of business. India has witnessed considerable growth in services sector and the quality of our professionals is acknowledged internationally. It is necessary that entrepreneurship knowledge and risk capital combine to provide a further impetus to our impressive economic growth. Equally the services sector promises an economic opportunity similar to that provided by information technology over the past few years. It is likely that in the years to come Indian professionals would be providing accountancy, legal and various other professional/technical services to a large number of entities across the globe. Such services would require multidisciplinary combinations that would offer a menu of solutions to international clients. In view of all this, the LLP framework could be used for many enterprises, such as : Persons providing services of any kind Enterprises in new knowledge and technology based fields where the corporate form is not suited. For professionals such as Chartered Accountants (CAs), Cost and Works Accountants (CWAs), Company Secretaries (CSs) and Advocates, etc. Venture capital funds where risk capital combines with knowledge and expertise. Professionals and enterprises engaged in any scientific, technical or artistic discipline, for any activity relating to research production, design and provision of services. Small Sector Enterprises (including Micro, Small and Medium Enterprises) Producer Companies in Handloom, Handicrafts sector. But, LLP might not be a choice due to certain extraneous reasons, for example, DOT would approve the application for a leased line only for a company; Angels / VCs would be comfortable investing in a company. Is LLP better than private limited company the choice is yours when you are starting a new business? However there are so many advantages of starting a limited liability partnership than a private limited company in India. Will the number of employees we expect to have affect my choice of LLP or LTD? If the company expects to employ people and the employee�s payroll is likely to be higher than the owners� salary, a �private company limited by shares� may well be more tax efficient that an �limited liability partnership�. If the business is likely to remain as just two or three members who are each making a similar contribution and each draw similar salaries then the LLP option will probably be more tax efficient. Will there be any problems if I plan to sell the business at some stage? One other important factor should be weighed in the balance : How likely is it that the business will be sold as a going concern? A �private company limited by shares� (LTD) is more anonymous and easier to separate from the owners by means of transferring the shares. A partnership is more personal and therefore less straight-forward to separate from the owners. Which is better � an LLP or an LTD? There is no absolute rule that makes one format better than the other. In any case, if your business changes over the years so that the alternative format becomes more appropriate, it is possible to form a new company of the other type � then transfer the business over to the new company. Conclusion : LLP is an alternative corporate business form that gives the benefits of limited liability of a company and the flexibility of a partnership. The LLP can continue its existence irrespective of changes in partners. It is capable of entering into contracts and holding property in its own name. The LLP is a separate legal entity, is liable to the full extent of its assets but liability of the partners is limited to their agreed contribution in the LLP. Further, no partner is liable on account of the independent or un-authorized actions of other partners, thus individual partners are shielded from joint liability created by another partner�s wrongful business decisions or misconduct. Mutual rights and duties of the partners within a LLP are governed by an agreement between the partners or between the partners and the LLP as the case may be. The LLP, however, is not relieved of the liability for its other obligations as a separate entity. Since LLP contains elements of both �a corporate structure� as well a �a partnership firm structure� LLP is called a hybrid between a company and a partnership. Comparative Analysis : Features Company Partnership Firm LLP Registration Compulsory registration required with the ROC. Certificate of Incorporation is conclusive evidence. Not compulsory. Unregistered Partnership Firm will not have the ability to sue. Compulsory registration required with the ROC Name Name of a public company to end with the word "limited" and a private company with the words "private limited" No guidelines. Name to end with "LLP" "Limited Liability Partnership" Capital Contribution Private company should have a minimum paid up capital of Rs. 1 lakh and Rs.5 lakhs for a public company Not specified Not specified Legal Entity Status Is a separate legal entity Not a separate legal entity Is a separate legal entity Liability Limited to the extent of unpaid capital. Unlimited, can extend to the personal assets of the partners Limited to the extent of the contribution to the LLP. No. of Shareholders / Partners Minimum of 2. In a private company, maximum of 50 shareholders 2- 20 partners Minimum of 2. No maximum. Foreign Nationals as shareholder / Partner Foreign nationals can be shareholders. Foreign nationals cannot form partnership firm. Foreign nationals can be partners. Taxability The income is taxed at 30% + surcharge+cess The income is taxed at 30% + surcharge+cess The income is taxed at 30% + surcharge+cess. Meetings Quarterly Board of Directors meeting, annual shareholding meeting is mandatory Not required Not required Annual Return Annual Accounts and Annual Return to be filed with ROC No returns to be filed with the Registrar of Firms Annual statement of accounts and solvency & Annual Return has to be filed with ROC Audit Compulsory, irrespective of share capital and turnover Compulsory Required, if the contribution is above Rs.25 lakhs or if annual turnover is above Rs. 40 lakhs. How do the bankers view High creditworthiness, due to stringent compliances and disclosures required Creditworthiness depends on goodwill and credit worthiness of the partners Perception is higher compared to that of a partnership but lesser than a company. Dissolution Very procedural. Voluntary or by Order of National Company Law Tribunal By agreement of the partners, insolvency or by Court Order Less procedural compared to company. Voluntary or by Order of National Company Law Tribunal Whistle Blowing No such provision No such provision Protection provided to employees and partners who provide useful information during the investigation process.

Avail credible and dependable NGO Services as part of our service range. The major details about our NGO Services are listed below : What is an NGO? A Non-Government Organization is a organization whose aim is to give benefit to the general public without any profit motive. As per the Income Tax Act the NGOs are to be assessed as association of persons or a body of individuals. An association of persons with non-profit motive may be registered under any of the following Indian Acts : As a Charitable Trust As a Society registered under the Societies Registration Act As a Company licensed under section 25 of the Companies Act Procedures of Formation : Trust : "Trust" is defined as an obligation annexed to the ownership of property, and arising out of a confidence reposed in and accepted by the owner or declared and accepted by him for the benefit of another, or of another and the owner. Trust Deed is required to be drafted by the author which shall contain atleast the prescribed information/clauses. A charitable trust is not required to obtain registration under the Indian Registration Act. Society : A society may be defined as a company or an association of persons united together by mutual consent to deliberate, determine and act jointly for same common purpose. Minimum seven persons, eligible to enter into a contract, can form society. When an NGO is constituted as a society, it is required to be registered under the Societies Registration Act, 1860. A society has to prepare its : Memorandum of Association Rules and Regulations Registration Documents : Covering letter requesting for registration stating in the body of the letter various documents annexed to it. The letter is to be signed by all the subscribers to the memorandum or by a person duly authorized by all of them to sign on their behalf. Memorandum of Association, in duplicate neatly typed and pages serially numbered. Rules and Regulations/Bye-Laws, in duplicate, certified by at least three members of the governing body. An affidavit of the president/Secretary of the society, on a non-judicial stamp paper of prescribed value, stating the relationship between the subscribers, duly attested by an oath commissioner, notary public or 1st class magistrate. Documentary proof such as house tax receipt, rent receipt in respect of premises shown as registered office of the society or no objection certificate from the landlord of the premises. An authority duly signed by all members of the managing committee. A declaration by the members of the managing committee that the funds of the society shall be used only for the purpose of furthering the aims and objects of the society. Company : Under Section 25 of the company's act, an association formed or to be formed : For the purposes of promoting commerce, art, science, religion, charity to any other useful object With intention to apply its profits or other income for promoting its objects Which prohibits payment of any dividend to its members Is permitted to be incorporated without addition of the word "Limited" or "Private Limited"? Procedure for applying is same as applicable in the case of all companies. If the registrar is satisfied that all formalities have been complied with, he will issue a certificate of incorporation from which date the company comes into existence. Income Tax Exemption For Ngo : The Income Tax Department of India has given exemption from income tax to the NGOs mentioned above. The exemption is subject to the various compliances mentioned in the Act. Trust : For getting exemption under Income Tax Act the Assessee has to apply to the income tax department in form no. 10A within a prescribed time limit Under section 11(1)(a) to (c) of the Income Tax Act, 1961, income derived from property held under trust is exempt if the following conditions are satisfied The property should be held under trust wholly for charitable or religious purposes. Income from such property should be applied to charitable or religious purposes. (Exemption is available to the extent of such application) Income should be applied in India At least 85% of the income derived from property held under trust, should be applied to charitable or religious purposes in the relevant previous year in order to claim full tax exemption. Tax Exemption For Notified 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