Audit & Assurance Services

Ensuring Accuracy, Compliance, and Transparency

Audit & Assurance Services form the cornerstone of our practice. At T.G. Hotchandani & Associates, we understand that reliable financial information is crucial for making informed business decisions. Our Audit & Assurance Services are designed to enhance the reliability of information prepared by our clients for use by investors, creditors, and other stakeholders.

• Statutory Audits: Our statutory audit services ensure that your financial statements comply with all statutory and regulatory requirements. We work closely with you to provide assurance that your financial reporting is accurate and reliable.
• Internal Audits: We conduct thorough evaluations of your organization’s internal controls, processes, and governance to ensure that your operations are running efficiently and effectively. Our internal audits help in identifying risks, enhancing operational efficiency, and improving governance.
• Concurrent Audits: Our concurrent and stock audits are conducted in real-time to provide ongoing assurance regarding the accuracy of financial transactions and inventory management.
• Tax Audits: Our tax audit services ensure that your business complies with all tax regulations, helping you to avoid penalties and optimize your tax liabilities.
• Due Diligence Audits: These audits are conducted during mergers or acquisitions to assess a company's financial, operational, and legal health. They aim to identify potential risks, liabilities, and opportunities to help the buyer make informed decisions before completing the transaction.
• Forensic Audits: Forensic audits involve detailed investigations to detect fraud, embezzlement, or other financial crimes. Auditors analyze financial records and transactions to gather evidence for legal proceedings.
• Regulatory Audits: We conduct audits mandated by regulatory bodies such as the Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), National Securities Depository Limited (NSDL), Central Depository Services Limited (CDSL), and National Payments Corporation of India (NPCI). These audits ensure compliance with specific regulatory frameworks.
• Risk-Based Audits: Risk-based audits focus on identifying and evaluating key risks within an organization. Auditors prioritize areas with the highest risk of material misstatement or operational failure, ensuring that resources are directed toward the most critical areas.
• Operations & Process Audits: We review and evaluate your business operations and processes to ensure they are optimized for efficiency and aligned with your strategic objectives.

Management Consultancy Services

Enhancing Business Processes and Strategic Planning

In today’s dynamic business environment, effective management is crucial to sustaining growth and ensuring long-term success. Our Management Assurance Services are designed to help organizations improve their processes, manage risks, and achieve their strategic objectives.

• Migration Assistance & Reconciliation to Core Banking Systems: We assist financial institutions in migrating to new core banking systems and ensure that all transactions and accounts are accurately reconciled during the transition.
• Business Process Re-engineering: We help organizations to redesign their business processes to achieve significant improvements in critical areas such as cost, quality, service, and speed.
• Payroll Processing & Vendor Payment Processing: We offer comprehensive payroll processing services, ensuring that your employees are paid accurately and on time. Additionally, we manage vendor payments to ensure smooth business operations.
• Controls and Monitoring of Inter-office Accounts: We implement controls and monitor inter-office accounts to ensure accuracy and compliance across multiple locations or branches.
• complex and Reconciliation: Our services include the reconciliation of clearing accounts, pay orders, demand drafts, and ATM transactions to ensure accuracy and prevent discrepancies.
• ESOP Administration & Consultancy: We offer expert advice and administration services for Employee Stock Ownership Plans (ESOPs), helping you to manage and maximize the benefits of these programs.

Corporate Financial & Legal Advisory Services

Strategic Financial Planning and Legal Compliance

Navigating the complex landscape of corporate finance and legal regulations requires expert guidance. Our Corporate Financial & Legal Advisory Services provide businesses with the insights and strategies needed to manage financial risks, optimize capital structure, and comply with legal requirements.

• Financial Planning & Analysis: We assist businesses in developing comprehensive financial plans that align with their strategic goals. Our analysis helps in optimizing financial performance and making informed business decisions.
• Mergers & Acquisitions Advisory: We provide expert advice on mergers, acquisitions, and divestitures, helping you to maximize value and achieve strategic growth.
• Legal Compliance: Our legal advisory services ensure that your business complies with all relevant laws and regulations, minimizing legal risks and ensuring smooth operations.
• Corporate Restructuring: We assist in corporate restructuring activities, including debt restructuring, capital restructuring, and business turnaround strategies.

Tax Advisory & Planning Services / Tax Efficiency & Planning Solutions (Direct & Indirect)

Tax advisory and planning services are crucial for individuals and businesses to ensure they comply with tax laws while minimizing their tax liability. These services help clients navigate the complexities of tax regulations and develop strategies to optimize their tax position, both in the short and long term.

Direct Tax Advisory:

Direct taxes are taxes levied directly on an individual or entity, including income tax, corporate tax, and capital gains tax. Tax advisory services in this domain include:

• Tax Planning: Structuring income, investments, and expenses in ways that reduce taxable income while complying with tax laws.
• Corporate Tax Optimization: Helping businesses identify tax incentives, credits, and deductions available to reduce their corporate tax liability.
• Cross-Border Taxation: For companies and individuals with international dealings, advisory services help mitigate issues arising from double taxation and ensure compliance with international tax treaties.
• Estate and Succession Planning: Structuring assets and wealth in a tax-efficient way, ensuring that inheritance taxes are minimized and wealth is smoothly transferred across generations.

Indirect Tax Advisory:

Indirect taxes are taxes on goods and services, such as VAT, sales tax, excise duties, and customs duties. Tax advisory in this area includes:

• VAT/GST Compliance: Advising businesses on the correct application of VAT/GST rules, claiming credits, and minimizing liabilities.
• Supply Chain Tax Optimization: Ensuring that businesses structure their supply chains in a way that minimizes indirect tax costs, such as sales tax or customs duties.
• Indirect Tax Audits and Disputes: Offering solutions to audit issues, tax assessments, or disputes with tax authorities to avoid penalties.

Tax Compliance Services (Direct & Indirect)

Tax compliance is the process of ensuring that an individual or business adheres to tax laws, regulations, and reporting requirements. This involves accurately preparing and submitting tax returns, paying due taxes on time, and maintaining necessary records to avoid penalties or audits.

Direct Tax Compliance:

For direct taxes, tax compliance services ensure businesses and individuals meet their obligations related to:

• Income Tax Returns: Preparing and filing accurate income tax returns for individuals, businesses, and corporations.
• Corporate Tax Returns: Ensuring that companies comply with corporate tax laws, including calculations for taxable income, tax deductions, and credits.
• Capital Gains and Other Direct Taxes: Assistance with compliance regarding capital gains taxes, inheritance taxes, or any other direct taxation obligations.
• Withholding Tax: Ensuring businesses correctly withhold taxes from employee salaries, dividends, and interest payments and remit them to the tax authorities.

Indirect Tax Compliance:

Indirect tax compliance services focus on ensuring that businesses adhere to VAT/GST laws, excise duties, and other transactional taxes:

• VAT/GST Returns: Preparing and filing VAT/GST returns accurately, ensuring businesses claim input tax credits and meet their VAT/GST obligations.
• Sales and Service Tax: Assisting businesses in complying with sales and service tax requirements, including returns, payment, and record maintenance.
• Indirect Tax Audits and Appeals: Helping businesses resolve disputes with tax authorities regarding indirect taxes, including handling audits or filing appeals if necessary.

Operational Consultancy

Optimizing Business Operations for Success

Operational efficiency is key to business success, and our Operational Consultancy services are designed to help businesses streamline their operations, reduce costs, and improve performance.

• Process Improvement: We help businesses identify inefficiencies in their processes and implement improvements that lead to better performance and lower costs.
• Operational Risk Management: We provide expert guidance on identifying and managing operational risks, helping businesses to avoid disruptions and maintain continuity.

Certification Services

Streamlining HR Processes and Payroll Management

Certification services in the context of taxation and business operations refer to the formal process of validating and confirming the accuracy, legality, and authenticity of various financial statements, documents, and transactions. These services provide assurance that financial reports and business practices are in compliance with relevant laws, regulations, and standards.

• Transfer Pricing: Businesses engaged in international trade must ensure their intercompany transactions adhere to transfer pricing regulations. Certification services validate that the pricing of goods and services sold between subsidiaries complies with the arm's length principle, reducing the risk of penalties or disputes.
• Tax Residency and Taxability: For businesses and individuals engaged in cross-border transactions, certification services help determine tax residency status and ensure compliance with local and international tax laws to avoid double taxation.
• Certificate of No Objection/Tax Clearance Certificates: These certificates confirm that a business or individual has complied with all relevant tax obligations. They are often required in business dealings, mergers, or while securing financing.
• Customs and Excise Certifications: For businesses involved in importing or exporting goods, certification services ensure compliance with customs duties, excise taxes, and related regulations.