OUR SERVICES

Among the 190 countries that participated in the World Bank Ranking for Ease of doing business, India stood at number 77 in 2018. This is a testimony to the start-up friendly atmosphere that has been promoted over the last couple of years. The start-up industry has seen a recent surge in funding, technological advances, and expansive market which is perhaps why India currently has about 38,000 successful start-ups.
This culture has allowed many young and talented entrepreneurs to put their business ideas into motion, thereby establishing India as one of the most valued global market. At SGA Group, we understand the ever-changing business industry and therefore, we offer end-to-end advisory and consultations to help our clients establish their brands in the market.

Any Start-up company must meet the legal requirements before they begin with the business and since start-ups lack the financial surplus that is often privy to established corporate businesses, it becomes more important for them to have access to the right knowledge and consultancy.
With the support of a good consultancy firm, a start-up can not only tackle the legal challenges but also avoid a lot of risks.
If you are planning on starting a start-up, there are some things that you should know:

• Business structure: Identifying the top requirements of a business helps to draft a structure for the business, i.e., as a sole partnership, proprietorship, a public company, private limited company, or a limited liability partnership. This classification helps to decide the legal requirements that the business needs to fulfil.
• Taxation: Every start-up must comply with all the taxation regulations to avoid legal actions against them. Therefore, every start-up must have intensive knowledge about tax laws and their tax liabilities towards the government, including information about updates in the policies, new taxes, and their impacts on their business models.
• Business licenses: Depending upon the industry of operation, different businesses require different licenses. These licenses must be obtained to avoid any complications in the future and to ensure a smooth run of the business.
• Labor Laws: Another thing to pay attention to is the labor laws. Before starting the business, a company must ensure that their processes and operations are complaint to the labor laws. These laws include provisions for minimum wages, provident funds, payment of gratuity, maternity benefits, and prevention of sexual harassment at the office, etc.
• Listing Requirements: All stat-ups are required to adhere to the SEBI regulations to get their securities listed in the stock exchange. These rules are often updated and therefore one must remain informed with all the updates and developments in the regulations.
• Protection of Intellectual Property: As the start-ups grow, they develop intellectual properties that are composed of codes, research findings, algorithms, and designs. Intellectual properties must be protected from misuse and other organizations. This is done through gaining copyright protection, trademark registration, patent filing.

• Understanding the business vision and providing assistance to develop a business plan according to it.
• Providing insights to identify an appropriate geographical location for launching the business operations.
• Tackling the taxation and the regulatory complications while launching the business into the market.
• Devising tax-efficient profits repatriation strategies.
• Providing assistance in getting all kinds of licences for the new business.
• Providing transaction advisory during the acquisition of an already existing business or during share and asset deals.
• Drafting and studying all kinds of business contracts including the contracts with other partners.
• Assisting in the set-up of formalities which includes the incorporation of company or LLP, opening bank accounts, obtaining TAN and PAN, among others.
• Providing support for an effective administration, legal compliance, HR management, Accounting, and IT developments.
• Providing current tax and regulatory compliances.

Maintaining an immaculate reporting process is an exhaustive process requiring hours of deliberation and a detailed adherence to the regulations. These regulations generally vary depending upon the industry and the type of the business and therefore, the bookkeeper must have a complete knowledge of the taxation rules and reporting obligations to ensure that the books are in compliance with the official requirements. Depending upon the authorities, the companies might be required to submit the official reports monthly, quarterly or annually.

These legislative obligations timelines must be met by a company. If not, then the company is subjected to fines and reputational loss, which increases the outflow of the company in the long run.

At SGA Group, our team of proficient Accountants and Bookkeepers, have the expertise of decades which enables them to ensure an impeccable documentation of information, through preparation, and 100% compliant taxation and financial reports. We stay informed about any updates in the accounting and taxation policies and our process allows us to always beat the clock.

Our Services Include:
Providing assistance in the Initial setup (opening the accounting books):

• We set up an accounting record and structure a chart of accounts.
• We provide advice on the accounting process.
• We discuss and decide upon the documentations.

Providing assistance in the Initial setup (opening the accounting books):

• We set up an accounting record and structure a chart of accounts.
• We provide advice on the accounting process.
• We discuss and decide upon the documentations.

Monthly bookkeeping and statutory reporting services:

• We maintain a general ledger.
• We record all the fixed assets and maintain their register.
• We maintain all the other ledgers in the accounting software.
• We account all kind of reconciliations (receivables, payables).
• We provide monthly bank reconciliations.
• We draft payments to suppliers and authorities.
• We assist with getting the sales invoices issued.
• We calculate all the travel expenses.
• We prepare all reports.

• Providing excellent Bookkeeping Services.
• Preparing and managing all the Accounts & Reports.
• Preparing Statutory Accounts for audited & non-audited companies.
• Setting up Accounting Systems

• Providing Vendor Management
• Providing tail spending management solutions.
• Providing third party payment management solutions.
• Providing petty cash management solutions.
• Providing employee reimbursement management solutions.
• Providing reverse charge, e-way Form and GST compliance solution.

• Providing assistance in the filing of income tax returns by making all the relevant disclosures.
• Analyzing the notice or the questionnaire received from the Indian Revenue Authorities.
• Aiding in preparing a reasonable reply with supporting documents.
• Providing Representation before Assessing Officer in Regular Assessments, Reassessments, Transfer Pricing Assessments.
• Providing Representation before Investigation Wing in Search and Seizure Cases.
• Providing Representation before The Dispute Resolution Panel (DRP).
• Providing advice on Litigation Strategy in Various Forums.
• Providing representation Before Commissioner of Income Tax (Appeals) & Income Tax Appellate Tribunal (ITAT), Authority for Advance Rulings (AAR) and Settlement Commission.
• Providing assistance and Support in Preparation & Representation of a case before High Courts/ Supreme Court of India.
• Providing Strategic Guidance for approaching potential tax Controversies.
• Providing Submissions before the Tax Authorities and the Appellate Authorities.

• Effectively handles the compliance assignments, within the deadlines to ensure a hassle-free tax regulation.
• Providing assistance in preparation and filing of various Tax Returns, Tax Planning, Taxation of Non-residents and Expatriates.
• Handling the Assessment Proceedings, Representations before Tax Authorities & Appellate matters before CIT (Appeal) and Income Tax Appellate Tribunal.
• Finding pragmatic operational and administrative solutions, which enable a more productive management global transactions, capitalisation, and repatriation issues.
• Providing analytical insights that help structure integrated global tax strategies to negate current and potential tax risks while simultaneously enabling a sustainable growth.
• Providing assistance with getting licenced and gaining governmental approvals.

According to the Companies Act 2013, section 246, all valuations are to be done in accordance to the provisions mentioned under the Act, and are to be performed only by a registered valuer having specific qualifications and expertise.
Registered valuers often provide a customised schedule for the development and regulation of the valuation, in accordance with the valuation standards and code of conduct for registered valuers.
Since 1st February 2019, Valuation under Companies Act (2013) and the Insolvency and Bankruptcy Code (2016) are only to be performed by valuers registered with IBBI.

Valuations allow an objective insight upon the business’s value through a methodological analysis of all the company’s assets. However, that is not the only reason why valuations prove to be so valuable for organisations. Some of the most important features of Valuations are listed below:

• Sale of Business as a going concern: Selling off of a business involve a complicated valuation process which is oriented to establish a fair value for all the assets. This is critical for finalising a good negotiation. In this case, the valuer determines the amount at which the transaction can be done.
• Business Valuation for Taxation Purposes: Valuation of assets also enables the organisation to establish an appropriate approach towards taxation processes. In this case, the valuer understands the circumstances and tries to objectively resolve any kind of disputes between the taxation authorities and organisations while complying to the rules and regulations.
• Business Valuation for Liquidation Purposes: Business Valuations are also critical during its liquidation or closing down. While closing down a business, all assets are analysed and all creditors are paid off. The valuer is responsible for ensuring that all creditors receive their fair share and that there is a deposit left for the owners as well.
• Business Valuation for Mergers, Acquisition and Restructuring: Valuations allow the businesses to evaluate their assets from an objective accounting perspective which enables a more pragmatic approach towards restricting of the businesses through Mergers or Acquisitions. Such takeovers demand a compilation of financial statements and combining two or more existing companies into a single business. Valuations help businesses to restructure their models in a way that allows them to perform in the most efficient and cost-effective manner while increasing their profits.

• Providing excellent advisory services for raising equity or debt financing, which includes determining the value of equity that is to be issued to new partners, shareholders, investors or the valuation and equity splits at formation.
• Performing evaluations of listed companies, unlisted companies, organisations, businesses, shareholdings, goodwill, know-how, brands, and other intangible assets.
• Providing advisory for Joint Ventures / Associations on equity splits at formation or exit in an independent role.
• Performing evaluation opinions for unquoted debt or equity instruments and Valuations for regulatory purposes e.g. Takeover Code, the Companies Act.
• Providing an objective analysis of a company’s assets to assist in a more profitable business re-modelling.
• Maximizing tax benefits for individuals and businesses.

• Providing outsourcing services for financial accounting.
• Providing virtual CFO managements.
• Assisting in outsourcing of payroll services.
• Providing initial public offering advisory
• Providing reconciliation of online sales over various e-commerce platforms.
• Providing complete compliance diagnostics and reports.

• Performing thorough evaluations of company’s operational processes and procedures to ensure compliance with statutory and internal directives.
• Suggesting changes to improve the company’s management, effectively combatting redundancy & cost that organization incur.
• Ensuring a harmony between the organisation’s managerial procedures and the most efficient industrial practices.
• Drafting customised processes to allow an organisation to manage both its processes and the people.
• Developing functional Internal Financial Controls procedures to provide protection against material misstatement or scams.
• Providing Industry Specific Advisory, like RERA.
• Providing effective management of Supply Chain Management Inventory Count
• Providing Fixed Assets Verification, Tagging etc.

We have listed some of the common periodic compliances below which are mandatory for all the companies:

1. Statutory Audit of Accounts: To file an immaculate Audit Report, all organisations are required to consult a chartered accountant or hire an accountancy firm to audit their financial statements before the end of the financial year. This is a compulsion for every organisation.
2. Filing of Financial Statements: All organisations are required to submit a report of their financial statements which has to include the balance sheet along with statement of Profit and Loss account.
3. Filing of Annual Report: All organisations are also mandatorily required to file an annual return for its financial year.
4. Filing of Tax Audit Report: All organisations are required to conduct an annual tax audit if the turnover of the organisation exceeds INR. 1 crore in the previous year, provided that the company pays tax under 44AD limit exceed to INR 2 crore.
5. Income Tax Compliances:
   → Advance tax – payment of a percentage of direct tax calculated on an estimated profit of the company on quarterly basis.
   → Goods and service tax (GST) – monthly payment of indirect tax collected/ deducted by company
   → Tax deducted at source (TDS) – TDS is paid monthly
   → Tax returns – E-return has to be filed for the taxes paid by the company on their respective due dates for both direct and indirect tax
6. Tax Audit: Tax Audit is a reviewing process that requires a thorough examination of the books of accounts pertaining to any organization, individual, company or business. Tax audits help in computation of income and tax and in filing the returns.
7. Minimum Alternate Tax: Normal tax rate applicable to an Indian company is 30% exclusive of cess and surcharge as applicable, which has been decided to be progressively reduced to 25% by 2019. As per MAT provisions, a company has to pay higher of normal tax liability or liability.
8. Other: There are many more compliances which a company needs to fulfil like Certification of Tax compliances (Form 15CA/ Form 15CB), Transfer pricing, etc.

• Providing assistance in registration of PAN/TAN.
• Providing assistance in filing of GST Returns.
• Calculating Income Tax and Advance Tax.
• Ensuring compliance of TDS.
• E-Filing of Income Tax Returns.
• Providing assistance with strategic Tax Planning.
• Performing Tax Audit.
• Performing Tax Calculations for Small Retail & Trading Businesses.
• Providing assistance with Minimum Alternate Tax (MAT) compliances.
• Calculating Income Tax as per the Income for organisations and businesses.
• Tax Computation Disclosure Standards (ICDS)
• Filing Tax Returns.
• Assistance in obtaining Certification for Tax Compliances (From 15CA/15CB).
• Providing expert advice on Taxability of Foreign Remittances and Receipts.
• Dealing with Custom Related Matters.

Organisations are required to regularly file compliances to the authorities and, without a good managerial operation in place, keeping everything on-point can prove to be a difficult task. The tediousness of the task becomes secondary when we consider what could happen in case of discrepancies or failures in compliances. If deadlines are not met properly or there are errors in compliance with the requirements, then the organisation can have severe material and reputational impacts.

Secretarial services help you avoid such severe consequences and ensure order in your governance. At SGA Group, we provide an excellent company secretarial services to provide organisations with end-to-end solutions to all their needs. By helping you strengthen your governance, we can support your business’ growth and development, while ensuring that all local and jurisdictional obligations are met. Our co-ordinated approach towards our clients makes it so much easier for them to handle the numerous reports and periodic compliances.

• Developing & Implementing Business Infrastructure for Private/Public Companies & LLPs.
• Preparing & Filing of Annual Returns.
• Acting as Share Registrars.
• Dealing with Share Issues and Transfers.
• Preparing & Maintaining Statutory Registers as per Company Law.
• Conducting Director and Shareholder meetings as per Secretarial Standards.
• Preparing Agendas, Notices, Minutes and Resolution of Directors and Shareholders Meeting.
• Preparation and Filing of Forms with Registrar of Companies.
• Updating Articles of Association.
• Providing Company Seals.
• Providing Company Desktop Searches.
• Recognizing changes in Share Capital including reduction of Capital, Purchase of Own Shares & Multi Share Classes and implementing strategies accordingly.
• Providing Regular Compliance Services.
• Providing Advisory Services.