Bansi S. Mehta & Co. provides clients with a wide range of services in the field of direct tax including advisory, litigation and compliance services.
Advisory:
We provide innovative, sound, viable and up-to-date advisory concerning the tax implications for every client after understanding the nuances of their businesses and the regulatory framework applicable to them. We ensure that our guidance is structured in an ethical manner keeping in mind the clients’ best interests. Our firm is at the fore of providing solutions to emerging issues in an ever-changing and evolving tax environment.
Litigation and Advocacy:
At Bansi S. Mehta & Co., we have a deep understanding of the complex tax issues that our clients often face. This helps us represent them before the tax authorities in a legal, innovative and lucid manner, especially in the current regime of digital assessments. We advise our clients on the best legal solutions after a thorough analysis of the prevailing legal situation. We also represent our clients before various appellate authorities and work closely with senior counsels and advocates for our clients’ matters at the High Courts and the Supreme Court of India.
Compliance Services:
Every individual and organisation needs to adhere to numerous compliances under direct tax law. Our team of dedicated professionals assists and advises clients to ensure their timely compliance with various routine tax mandates such as preparing and filing tax (income tax and withholding tax) returns. We also provide the certification services necessary for outward remittances after an in-depth analysis of the various benefits available to our clients under the Income Tax Act and the Double Tax Avoidance Agreements, while keeping in mind the essence of time in such transactions.
Our gamut of services includes making various applications, obtaining regulatory approvals, representation before CBDT, tax filings, making various statutory certifications, etc. We undertake tax and transfer pricing audits and provide certifications for specific purposes inter alia including availing special deductions under the Income Tax Act.
With changes in the legislation and streamlining of indirect taxes across the country, it is more crucial than ever to have a clear understanding of the policies and compliances surrounding indirect taxes today. At Bansi S. Mehta & Co., we provide our clients with services encompassing the entire spectrum of indirect taxes.
Advisory:
We help our clients define the variables which determine their indirect tax implications such as HSN classification, valuation, place of supply, input tax credits available, etc. The Bansi S. Mehta & Co. team is regularly trained to keep abreast with developments in indirect tax regulations which helps us advise our clients on optimum supply chain structuring, undertake anti-profiteering studies and review relevant contracts and agreements.
Litigation and Advocacy:
Our collective knowledge on indirect tax laws and regulations enables us to formulate strategies to help clients manage litigations, assist in responses to letters, notices and appeals from tax authorities, represent clients before various Adjudicating Authorities and provide advocacy support on tax issues faced by the industry. This helps us achieve rulings in favour of our clients.
Compliance Services:
Clients have to follow a number of procedures to comply with regulations regarding indirect tax. We assist our clients in obtaining and cancelling their registrations where required; undertake monthly, quarterly and annual compliances; apply for refund claims and set up standard operating procedures for numerous internal departments. We also conduct audits of the indirect tax procedures of our clients and provide them with certifications based on our findings.
With a view to helping clients remain focussed on their operations and with the need to have timely checks to ensure compliances, we conduct health checks, also known as specific tax diligence, to ensure that all our clients’ transactions are tax compliant.
Direct Tax:
Our direct tax health checks include detailed reviews of tax claims, deductions, exemptions, etc. having regard to the prevailing legal position. We also carry out a detailed review of TDS and TCS compliances for domestic and international payments. We analyse international payment agreements with regard to DTAA and MLI. We undertake various special assignments to determine the eligibility and/or quantification of various allowances and disallowances under the direct tax law such as, reports on compliance with conditions for availing tax holidays, benchmarking exercise for section 80-IA, study reports under section 14A for expense allocation for tax-free income, etc.
Indirect Tax:
Our team conducts process reviews of business transactions and detailed diagnostic reviews for our clients during indirect tax health checks.
We live in a world where information is power. In this context, often, we have witnessed the information asymmetry between the management and owners of numerous companies. As auditors, we take it upon ourselves to bridge the gap between the two.
At Bansi S. Mehta & Co., we understand the importance of accurate financial statements and strong internal controls for a company’s growth. For us, auditing is not only about numbers — we strive to provide our clients with high-quality, reliable audit and assurance services to help them achieve superior corporate governance systems.
The firm provides comprehensive audit and assurance services, with an ethical approach, while leveraging our multiple years of experience across various industries. We handle statutory audits, tax audits, transfer pricing audits (international and domestic), special audits under the Income Tax Act and internal audits. We also assist our clients with certifications under various provisions of the Income Tax Act, FEMA, banking regulations and SEBI regulations and undertake assessments of their internal controls for financial reporting.
We undertake end-to-end Ind AS implementation services to help clients transition from Indian GAAP to Ind AS. The first step of the process involves the identification of whether the requirements to adopt Ind AS have been met. We then identify the differences between the present IGAAP policies and Ind AS, following which we conduct an impact assessment of the transition to Ind AS including the impact on the book profits of the company as u/s 115JB of the Income Tax Act, 1961. Clients are subsequently advised on the selection and adoption of appropriate Ind AS policies and assisted in the preparation of financial statements as per Ind AS. We offer accounting advisory to address any post implementation issues which may arise.
We also undertake Ind AS accounting advisory services including transaction advisory services on a holistic level after taking into account other statutory regulations like provisions of the Companies Act, 2013 as well as regulations notified by SEBI, RBI and the Banking Regulation Act, 1949.
Bansi S. Mehta & Co. provides support for potential mergers, acquisitions and restructuring whether it is for the purposes of acquiring a new business, exploring synergies and best practices in the current businesses or the best possible way to hive off a vertical.
We provide assistance on procedures, draft schemes and resolutions, carry out financial and tax due diligence and support bankers and lawyers as they represent clients in front of regulators. We offer holistic tax structuring advisory using client-first approach highlighting all the major foreseen risks.
We have extensive experience in valuations and corporate restructuring including business valuations, instruments, valuation of intangibles (like brands, software, knowhow, goodwill) for mergers, demergers and open offers, FEMA, Ind AS, purchase price allocations, tax and other litigations in case of defaults.
We also carry out valuations at the behest of regulators like SEBI, High Courts, etc.
The rapid pace of global integration of economies and technological progress, coupled with the ease of conducting business worldwide has led to a prolific rise in cross-border transactions including inbound and outbound investments. The past few years have also witnessed tremendous changes in taxation laws, regulatory compliances, exchange of information, etc. in the ever-evolving field of international taxation.
Discerning the tax intricacies in each jurisdiction has become a business essential. With a strong fundamental understanding of country-specific laws and experience in the field of taxation (including international taxation), Bansi S. Mehta & Co. is able to seamlessly guide clients on international tax implications under the Indian taxation systems.
Our range of international tax services includes advisory on inbound and outbound structuring, restructuring, business reorganisation, business transactions, POEM evaluation, etc., and on implications under withholding tax provisions and equalisation levy on transactions with non-residents. We evaluate the impact of MLI, BEPS, significant economic presence provisions, etc., and the applicability of master file and CbCR provisions. We issue Form 15CB for foreign remittances and help NRIs, FPI/FIIs and foreign corporate and non-corporate bodies furnish income-tax returns in India.
We undertake transfer pricing audits along with ex-ante studies and benchmarking of transactions where required. We also represent clients in litigation matters relating to transfer pricing.
At the firm, we have handled several family settlements with great sensitivity and care. We meticulously understand the requirements of the family businesses and we give solutions using various structures to achieve the objective of the settlement. We offer family businesses a number of other services as part of this vertical as well such as restructuring advisory, valuation, tax advisory support through the entire process and representation in front of a mediator. Our team also provides support to lawyers when making submissions to authorities on matters of family settlement.
In today’s dynamic, ever-evolving environment there exists a degree of uncertainty regarding the future. It is important for individuals and organisations to make provisions to safeguard against unforeseen circumstances. Succession planning is an important step in this process.
The team at Bansi S. Mehta & Co. is well-versed with the laws relating to succession planning. Apart from advisory services, we assist clients with business reorganisation when planning for the future. Our team helps clients create optimum family arrangements, set up Trusts and draft wills, Trust deeds and other necessary documents.
The firm offers opinions and advisory services in respect of compliance with the Foreign Exchange Management Act, 1999 and allied rules, regulations and notifications in cross border business transactions. Team members advise on and assist clients with foreign investments in India, setting up of businesses outside India, external commercial borrowings, personal foreign remittances and reporting requirements. We also help clients with various filings with the RBI, DPIIT and authorised dealers in compliance with the Foreign Exchange Management Act, 1999 and allied rules, regulations and notifications.
The introduction of innovative businesses has led to the creation of new products, assets and often, new challenges. Bansi S. Mehta & Co.’s team offers entrepreneurs crucial guidance and advisory support as they navigate the setting up of a new business. We help in structuring startups, drafting shareholders’ agreements and LLP deeds, compiling investment pitch decks and undertaking detailed valuations of the business with an analysis of returns and pay back for investors and the company. We also offer tax advisory relating to funding, accounting advisory, financial, accounting and tax diligence, and help ensure the client is tax compliant.
We provide support to management in the quantification of scope 1 & scope 2 emissions and other reporting requirements. We have capability to carry out ESG certification. We can provide our consultation and advisory on sustainability initiatives from building to implementing a 360-degree perspective.