Specialized services cover a wider scope with relevance to the business establishment, financial management, tax planning, documentation, operations, loans, business transfers, and mergers and acquisitions. The service eliminates the need for an entire financial management team within organizations and assists them with whatever situations or requirements they are currently or will be encountering. Unlike other services, this suite requires a dedicated team of subject experts who can contribute to organizational decision-making and drive excellence.
Small businesses would benefit tremendously from the expertise that a CFO brings to the table. But it cannot always afford to have a full-time CFO on its payroll.
BCL India has a solution to this. We have devised an elegant virtual CFO service for you. Our tailor-made solutions are designed to fit the needs of your business. Our team of knowledgeable Chartered Accountants and Company secretaries will assist you at every step. We shall dedicate a team of professionals, headed by an experienced Chartered Accountant to act as your virtual CFO. The team shall take care of matters such as:
The virtual CFO also helps in the decision-making process of the organization, which will lead to the overall growth of your business.
The Income Tax Act is among the most important laws that apply to your business. Every business owner wants to plan their taxes effectively. While every business wants to be compliant with the law, it does not want to pay unnecessary taxes. Even the tax law encourages taxpayers to avail themselves of benefits that are prescribed by the law.
On many occasions, your business might enter into complex transactions that would require an expert’s opinion on the tax implications. You would want to know if all the tax requirements are fully taken care of and whether your business is claiming the benefits it is entitled to. You may also want to avoid unnecessary litigation in the future and may want to take a position that is in line with the Income Tax Act.
Our team of knowledgeable and experienced chartered accountants would gladly answer your questions and recommend the best solution for you. We will guide you through the entire process to ensure that you remain in compliance with the Income Tax Act. Furthermore, we will inform you of the tax benefits that your company may be eligible for, as well as the various ways in which you can better plan your taxes.
We can provide you with written tax opinions on nearly all matters contained in the Income Tax Act, including corporate tax, LLP tax, slump sales, business transfer agreements, amalgamations, demergers, start-up investment, ‘angel’ tax, TDS matters, including those applicable to non-residents, employee and ESOP tax, and more.
The GST law has subsumed most indirect taxes and is today the most important indirect tax that applies to businesses all over India. The GST law taxes both goods and services. The law is elaborate and contains various provisions that determine the point of taxation, the place of supply, the rate applicable to the supply, the payment of GST, and the filing of GST returns. Given that it is still in its early days, the GST law is evolving continuously. The taxpayer should pay attention to the circulars and notifications issued and the orders of the court, as these will have a direct impact on the business.
It is important that you stay abreast of the changes in GST law and have full knowledge of the recent developments. As a business owner, you would need to know if your business is compliant with the GST laws. You will need to be sure that you have the necessary registrations in place, and that you are paying your taxes accurately. To take full advantage of the GST law, business processes must be carefully planned.
BCL India’s indirect tax experts will be able to help you at every step. We will identify instances of possible noncompliance and do our best to highlight litigious transactions.
We will provide you with a written opinion on nearly all matters contained in the GST Law, including place of supply, import of services and goods, reverse charge mechanism, TDS and TCS under GST, e-commerce supplies, multi-state registration, input tax credit, blocked credits, GST returns, and GST tariffs.
Every business that needs a loan from a bank would need to submit important documents such as CMA data and the project report. Sometimes banks also ask businesses to submit a detailed project report, or DPR.
The CMA data and the project report contain detailed information about the project that is proposed to be undertaken. The report contains financial projections together with key ratios such as the current ratio, debt service coverage ratio, interest coverage ratio, debt equity ratio, and much more.
The CMA data and the project report must be properly prepared. Needless to say, the accuracy of these reports determines the eligibility of the business to get the loan.
BCL India’s team of experts will be able to assist you with this. Our team comprises ex-bankers who have spent decades analyzing CMA data and project reports. They offer their unique experience from “the other side of the table” and will guide you to prepare a report that is complete in all respects.
Our CMA data and project report will contain detailed information about the project’s viability, asset purchase details, proposed loan and interest schedule, projected financial data for 5 or more years, detailed cash flow statements, key ratio analysis, and loan eligibility analysis under various methods adopted by banks themselves.
Slump sales are among the popular methods of transferring business units. Under this method, a single price is assigned to the business unit being transferred. The business unit would in turn comprise a group of assets and liabilities. The advantage of slump sales is that consideration need not be individually assigned to each asset or liability. A special mode of calculating capital gains tax in the case of a slump sale is prescribed under the income tax law.
A slump sale that is improperly executed would expose the parties to tax consequences, both under the income tax laws and the GST laws. Every step along the way must be judiciously followed.
At BCL India, our team of experienced chartered accountants and company secretaries would be able to assist you. We can help you with the following:
On several occasions, one business entity might have to transfer its assets or liabilities to another business entity. The transfer could be on account of business reorganization, transfers from a holding entity to a newly established subsidiary, regular business acquisitions, or cross-border restructuring. Such transactions would warrant the execution of a Business Transfer Agreement that would contain details of the assets and/or liabilities being transferred, the terms of such transfer, the consideration involved, and any restrictions placed on the buyer.
The business transfer agreement must be properly executed. Improper execution of the agreement would result in disputes between the parties & exposure to tax consequences.
We can help you with the following:
