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Transcript of Firm profile PSC 24052016
P r a k a s h
_______________________________________________________________________E-mail: [email protected] , www.psc.co.in
Prakash Sachin & Co. is a
Accountants having its Head
pan India presence through
Jharkhand and associates in
firm has also marked its presence
different countries across Europe,
associates USA also.
The firm is engaged in professional
s including transfer pricing,
covering Excise, service tax
matters, Corporate law, allied
Assurances related matters
Business Advisory services,
compliances and matters related
provides its services to Fo
Public Limited Companies,
Companies, International NPO
P r a k a s h S a c h i n & C o , C h a r t e r e d A c c o u n t a n t s .
_______________________________________________________________________
a well-known and reputed firm of Chartered
Head office at New Delhi, India. The firm
ough its branch offices in Gurgaon, Mumbai
in metro city as well as in other cities
presence in overseas through its associates
Europe, Asia and Latin America. It
professional services related to Income tax
International tax& DTAA issues, Indirect
tax, VAT & CST and Custom & FTP
allied law, FEMA and RBI related matters
matters .The firm is also engaged in the
services, Tax Advisory & litigation, Regulatory
related to foreign investment & trade.
Foreign Companies, Multinational Companies,
Companies, Limited Companies, Private
NPO and Banks etc.
A c c o u n t a n t s .
1
Chartered
firm has got
Mumbai &
also. The
associates in
It has its
tax matter
Indirect tax
FTP related
matters, Audit &
areas of
Regulatory
The firm
Companies,
Limited
P r a k a s h S a c h i n & C o , C h a r t e r e d A c c o u n t a n t s .
2 _______________________________________________________________________ E-mail: [email protected] , www.psc.co.in
Knowledge Support – Knowledge is Power.
The mantra of the firm is “Knowledge is power.”
In a very dynamic and fast changing global situation, where the internet
and social sites are used as uninterrupted flow of information and
knowledge , the firm commitment and zeal of its team to deliver the best
solution in efficient and time bound manner combined with the spirit &
smile, helps the organisation to stay ahead with its peers. The
organisation believes in the dissemination of knowledge is the best way to
acquire it and in this process, it releases weekly updates which contains
recent changes, notification and amendments and judicial pronouncement
on every Monday. This weekly updates is known as “Weekly Bulletin”
and it is issued after thorough discussion of the team members on every
preceding Saturday. This weekly bulletin truly represents the practice
areas of the firm.
The firm subscribes the leading Tax and corporate journal of India and
also subscribes the private online reporting of tax laws, reports, articles
and judicial ruling through Tax Sutra and Taxman. In the matter of
transfer pricing, the firm uses the Prowess tools developed by CMIE &
Thomson Reuters .The firm appreciates and recognises that in the
competitive market place the client who are the pillars in the firm’s
success , deserves the best professional, updated, easily understandable
P r a k a s h S a c h i n & C o , C h a r t e r e d A c c o u n t a n t s .
3 _______________________________________________________________________ E-mail: [email protected] , www.psc.co.in
advice, and the firm has the commitment with sincerity to serve them
with the updated knowledge with best possible expertise, resources ,
personal attention, complete integrity and confidentiality .
Infrastructure Support –
With offices at various places, the firm has team size of over 35
professional including an integrated team of experienced partners and
associates. The team strength, location, training and experience enable
the organisation to provide the best services to its clients in most
complicated transactions throughout India. All the information technology
hardware’s system follows the security compliance guidelines and restricts
the leakage or pilferage of any data and personalised information of
client. The administrative head office is New Delhi.
Human Resources –
The most valuable assets the firm possesses are its team of experienced,
knowledgeable, talented and dedicated pool of human resources. The
efficient delivery of the work and client satisfaction are the two important
mantra of the firm . It pays special attention is on its best young and
talented professional who are qualified Chartered Accountant ,
Company Secretary, Cost and Management Accountants , Law Graduates
& MBA and all works in a team wherein each person is being called a
team member and the team leader are the experienced Manger guided by
Director/Partner of the firm. With an endeavour to provide the best
service well within the time, the firm has grouped the team in verticals.
All the verticals in turns report to the Manger and then Director /Partner
who has the interface with the clients /business associates. The firm has
the policy to identify, nurture and develop the young professional who can
carry the baton of the organisation to the next level with new heights.
P r a k a s h S a c h i n & C o , C h a r t e r e d A c c o u n t a n t s .
4 _______________________________________________________________________ E-mail: [email protected] , www.psc.co.in
P R A C T I C E A R E A S
The firm has established practice groups to serve its clients’ diverse
needs:
1. FEMA (Foreign Exchange Management Act) & RBI related issue.
2. Advisory , Compliance and litigation in the matter of income Tax
including International Tax, DTAA & Transfer Pricing , Specified
Domestic Transfer pricing and its related study report and issues.
3. Advisory, Compliance and litigation in Indirect Tax covering
Central Excise, Service Tax, Customs law, Central Sales Tax and
State VAT related issue. SEZ, STP, EOU and DGFT related matters
4. Taxation and legal matters in the EPC (commercial contracts and
E - commerce transactions.
5. Corporate law and allied law related issue. Due Diligence,
Valuation and merger & acquisition.
6. Auditing & Assurances covering Statutory Audit, Internal audit,
Transaction Verification audits. Bank Audits covering statuary
Branch audits, revenue audits, concurrent audits, Credit
Monitoring audits and stocks audits.
7. Business Advisory services
P r a k a s h S a c h i n & C o , C h a r t e r e d A c c o u n t a n t s .
5 _______________________________________________________________________ E-mail: [email protected] , www.psc.co.in
8. F E M A ( F o r e i g n E x c h a n g e M a n a g e m e n t A c t ) .
The firm has a dedicated team to work on the foreign exchange regulation
and FIPB approval. Since India has a liberalised current account regime,
the firm has expertise in the matter of foreign exchange transaction
related to the Non-resident, Nonresident India (NRI) and PIO. The firm
provides its services in the capital account transaction covering from FDI
approval, ECB and other securities issue related transaction, incorporation
of WOS, Joint Venture, share valuation and allotment, FCGPR and FLA
filing, establishment of Liaison office, project office, Branch office, and
any other exchange control matter. The firm represent before the
adjudicating authority for the compounding matters.
In Anti Money Laundering provision, the firm has established its repute in
advising and successful defending the clients.
The firm represents diverse range of clients in evaluating business
options, restructuring companies, establishing joint ventures and
negotiating other commercial arrangements.
P r a k a s h S a c h i n & C o , C h a r t e r e d A c c o u n t a n t s .
6 _______________________________________________________________________ E-mail: [email protected] , www.psc.co.in
I N C O M E T A X The organisation engages in an exceptionally sophisticated, broad-based
tax practice, touching many different economic sectors under different
situation of changeability, attribution, Capital Gain, incentives, deduction
and exemption. It practices in all Income Tax related issue including
Assessment, Representation, Certification & Litigation related issues. The
firm provides the representation services before different judicial forum.
Further the firm also provides its professional services in the matter
related to search and seizure and its related assessment. The firm is
actively involved in providing tax-related advice on acquisitions, mergers,
de mergers, absorption’s, slump sales, reorganisation and restructuring of
businesses. The firm advices on the exemption and incentive related issue
under the various provision for the Industrial undertaking, infrastructure
facility and for the units under the SEZ, EPZ, EOU, STPI and suggest the
various compliance norms . The firm has a specialisation on the taxation
issue arising of the offshore or onshore turnkey contracts in the power
sector, Oil & Gas Sector & Infrastructure project like Roads, Airport, Dam
and port etc.
P r a k a s h S a c h i n & C o , C h a r t e r e d A c c o u n t a n t s .
7 _______________________________________________________________________ E-mail: [email protected] , www.psc.co.in
I N T E R N A T I O N A L T A X & D T A A M A T T E R S
The firm provides the Services of advisory and litigation in Income Tax
matters covering International Tax and tax relief under various DTAA
(Double Tax Avoidance Agreement) which India has entered into with
various countries. The firm practices on the cross border taxation issue
arising from Indian Income tax Act and its covering Direct as well indirect
transfers of securities, FTS & Royalty issue , movable & Immovable
property related issue, Business Connection issue, Permanent
Establishment under DTAA, attribution, computation, exemption and
deductions . The firm practices on the triangular issue of taxation with a
focus on independent personnel, professional, Athletes, Artist, Sportsman
and Government and Diplomatic consulate and UN and World Bank staffs.
The firm handles the issue related to FIIS. The Partner of the firm is the
member of the ITAT (Income Tax Appellate Tribunal) Bar Council and
regularly appears in appeal matter before it. Apart from this the partners
also appear before DRP, CIT (A), & AAR.
P r a k a s h S a c h i n & C o , C h a r t e r e d A c c o u n t a n t s .
8 _______________________________________________________________________ E-mail: [email protected] , www.psc.co.in
TRANSFER PRICING – STUDY REPORT AND LITIGATION .
The firm is engaged in the Transfer pricing audit and preparation of the
transfer pricing study report covering the international transaction as well
as Domestic Transaction. The firm has a dedicated team comprising of
the expert in the different subject domain including the MBA and
Economist who dwell upon the extract the best in the reporting and
pricing. This team has worked on the capacity building and is competent
to raise the best defence in case of litigation by the Revenue. The partner
of the firm appears before the Dispute Resolution Panel and Tribunal to
represent the matter.
The firm undertakes the assignment for the determination of the arm
length pricing for both the tangible and intangible related matter covering
intra group services and shared services.The firm intends to represents
the client in the APA (Advance Pricing Agreement) related matter covering
both the unilateral and bilateral matters and appear before the competent
authority appointed under DTAA.
P r a k a s h S a c h i n & C o , C h a r t e r e d A c c o u n t a n t s .
9 _______________________________________________________________________ E-mail: [email protected] , www.psc.co.in
C U S T O M S , C E N T R A L E X C I S E S E R V I C E T A X & S E Z , F O R E I G N T R A D E P R A C T I C E R E L A T E D I S S U E The firm practices in the Central Excise matters, CENVAT Credit Rules,
Customs matters and its regulation, Service Tax Matters and other
matters of indirect tax. The firm has successfully handled various matters
of product classification, valuation and CENVAT credit. The firm guides its
associates about the various exemption /incentives/abatement available
vide different notification or circular to the different sectors / area and
helps the client in defining their Business Policies and model towards
efficient tax planning. It provides the services on the statuary matters
related to the units in SEZ ( Special Economic Zone ) , STPI ( Software
technology Park ), EHTP ( Electronic Hardware technology Park ) , EOU (
Export oriented units ) and DTA ( Domestic Tariff Area ) .
P r a k a s h
_______________________________________________________________________E-mail: [email protected] , www.psc.co.in
G O O D S A N D S E R V I C E The Goods and Service Tax is
in India and it will subsume
Central Sales Tax and State
matters related to Central Sal
and Service Tax and has kept
and its effect with advisory
professional under a to look
senior partner of the firm.
representation services, compliance
issue.
The firm undertakes appeal
the Commissioner and Tax
advocates who can take up
cities in India where the firm
arrangement facilitates the
point whereas our team delivers
P r a k a s h S a c h i n & C o , C h a r t e r e d A c c o u n t a n t s .
_______________________________________________________________________
S E R V I C E T A X .
is new law that is expected to be implemented
subsume the existing law of Excise, Service
State VAT. As of now the firm practice
Sales Tax and State VAT including the
kept itself associated with the proposed
advisory and planning .The firm has a
look into these area under the leadership
firm. The firm provides the advisory
compliance services and the litigation
matters related to State VAT and CST
Tax Tribunal level whereas it has a
up the matter in the higher courts, in
firm does not have the physical presence.
associates to coordinate with a single
delivers the services on pan India basis.
A c c o u n t a n t s .
10
implemented
Service Tax,
practice in the
the Excise
proposed changes
team of
leadership of a
services,
litigation related
CST before
team of
in various
presence. This
single contact
P r a k a s h S a c h i n & C o , C h a r t e r e d A c c o u n t a n t s .
11 _______________________________________________________________________ E-mail: [email protected] , www.psc.co.in
C O R P O R A T E M A T T E R S
The Corporate and Commercial Law practice is at the heart of the
organisation. With the New Companies Act becoming effective, rules
being notified and further amendment has also been notified , the law has
become more dynamic and needs a dedicated team of professional to
attend the issues and moreover the compliance , disclosure and reporting
.
The practice in the firm provides advice on various compliances required
by the various committees including the audit committee, related party
transaction , Board meeting , quorum , general meeting of the members ,
meeting of the creditors , voting issues , Independent director issues ,
management issue , accounts and auditor related issue and various broad
spectrum of matters, ranging from general corporate advice, corporate
governance, company formations, contract law, and exchange control
regulations.
As the compliance and disclosure are two important aspects of the New
Companies Act, the firm provides professional services on this aspect as
advises its associates on the related compliance and forms that are
required to file with ROC.
P r a k a s h S a c h i n & C o , C h a r t e r e d A c c o u n t a n t s .
12 _______________________________________________________________________ E-mail: [email protected] , www.psc.co.in
E X P A T R I A T E R E L A T E D M A T T E R ( I N B O U N D A N D O U T B O U N D ) A N D S O C I A L S E C U R I T Y R E L A T E D I S S U E
The firm has an expertise in the expatriate related tax as well non tax
issue and advices on both the inbound and outbound deputation and
secondment. The firm has its expertise on the development of the
Deputation/secondment agreement Vis-a –Vis existence of service PE.
The firm provides a complete solution in respect of inbound expatriate
ranging from FRRO registration to complete his Income tax, DTAA and
FEMA compliance, Social Security issue covering foreign worker and
Certificate of Coverage and repatriation of tax paid earning.
The firm provides the services for trust and estate planning related to NRI
having different scenario of Global family situation covering the issue
ranging from movable , immovable property and Intellectual Rights.
P r a k a s h S a c h i n & C o , C h a r t e r e d A c c o u n t a n t s .
13 _______________________________________________________________________ E-mail: [email protected] , www.psc.co.in
I N F R A S T R U C T U R E & E P C C O N T R A C T R E L A T E D A D V I S O R Y S E R V I C E S
The firm has special interest in handling the EPC (Engineering,
procurement & construction) contracts and its related contractual,
taxation and legal issue. Be it the Oil & Gas Sector, Petrochemicals sector,
Power Sector, High ways, Port etc or any other Infra structure sector the
firm has developed the capacity to understand the minute issue related to
taxation, legal and Contractual matter and provide a complete solution on
this issue based on the Standard Global Practice which are being adopted
by the major player in this sector. The firm gets involved in the pre bid as
well post bid discussion with the client on the above issue which help the
contractor as well contractee to sort out the issue before making
commitments. The firm also gets engaged in the arbitration matter
covering the commercial, legal and contractual matters.
With the opening of the Railway and Defence sector, the scope of foreign
contractor with latest technology and R&D expertise has significantly
increased and lot of EPC contractor are engaged in various sector. The
government as well the private sector has awarded various contracts
either on the PPP (Public Private Partnership) or EPC model.
P r a k a s h S a c h i n & C o , C h a r t e r e d A c c o u n t a n t s .
14 _______________________________________________________________________ E-mail: [email protected] , www.psc.co.in
V A L U A T I O N , D U E D I L I G E N C E e t c
The firm has set up its team under the guidance of senior Partner for the
Valuation of the entity, its business and financial securities. This valuation
and transition advisory cell is committed to provide market researched
based professional, ethical and high quality consultancy in a transparent
manner. The firm covers the complete spectrum of the valuation, based
on the purpose and objective and delivers the professional services with
innovative way. The firm proposes to develop a multi disciplinary
expertise across various industry segments which can handle the complex
issues of valuation, covering the whole range like Securities Valuation,
Tangible and Intangible assets including impairment studies of the
tangible and intangible assets.
P r a k a s h S a c h i n & C o , C h a r t e r e d A c c o u n t a n t s .
15 _______________________________________________________________________ E-mail: [email protected] , www.psc.co.in
A U D I T I N G & A S S U R A N C E S
The firm has diversified experience in auditing like, Statutory Audit,
Internal audit, Stock Audit, Transaction Audits (TVA) of various
Corporate & Non Corporate client.
The firm has been conducting the statutory audit as well as internal audit
of some reputed clients from Manufacturing Industry, Construction
Industry, Service Industry and Institutions etc. The clients list include
both corporate as well as non corporate entity spread over in different
product/services segment.
In FMCG Sector the firm provides the services of internal audit/stock audit
of manufacturers of Branded readymade garments, Health care products,
pharmaceuticals items, fresh food products and leather item & its related
footwear products. In addition the firm is engaged in the internal audit of
BSE/NSE listed Infrastructure construction companies and companies in
IT/ITES sector.
The audit department is headed by a partner and the team consists of
qualified Chartered Accountants and semi qualified Assistants and is
geared up to take handle the assignment of any large industry .
P r a k a s h S a c h i n & C o , C h a r t e r e d A c c o u n t a n t s .
16 _______________________________________________________________________ E-mail: [email protected] , www.psc.co.in
B A N K A U D I T
The firm is empanelled with RBI. The level assigned is level –II. The firm
is the statuary Branch Auditor of State Bank of India since last successive
six year. Apart from the Statuary Audit, the firm is empanelled with
Allahabad bank, Oriental Bank of commerce , Bank of Maharastra and
other Public Sector Banks for their Revenue, concurrent and stock audits.
In private sector Banks , the firm is the authorised credit monitoring
agency appointed by ICICI banks , AXIS Bank and HDFC Bank which
involves the continuously supervise the borrowers accounts on behalf of
these banks in terms of Units inspection, stock verification , ROC search
etc and other assignments as provided by the Bank .
P r a k a s h S a c h i n & C o , C h a r t e r e d A c c o u n t a n t s .
17 _______________________________________________________________________ E-mail: [email protected] , www.psc.co.in
P R O F I L E O F P A R T N E R S -
P R A K A S H S I N H A
Prakash Sinha (FCA) aged about 43 years, is the senior partner of the
firm. He has post qualification experience of about 18 years. During the
passage of time he has developed himself in the Taxation advisory and
litigation services, Business Advisory Services, Management Consultancy
services covering the whole Corporate & Commercial matters and
regulatory issues. He has got the experience and expertise in the FEMA,
Corporate law matter, Taxation matter including the International Tax and
Transfer pricing matters. He was a member of the Research Study Group
constituted by Northern India Regional council of Institute of Chartered
Accountants of India on the International Taxation and WTO matters. He
has successfully completed the Certificate course of Institute of Chartered
Accountants of India on the subject of International Taxation and Transfer
Pricing, Diploma in Information System Audit (DISA). Further he has
completed the course of IFA (International Fiscal Association) Delhi
Chapter on the Subject of International Taxation and Transfer Pricing. He
has completed the LLB and advising the client in various legal and
regulatory matters .He has handled various assignments successfully in
the areas of firm practice.
P r a k a s h S a c h i n & C o , C h a r t e r e d A c c o u n t a n t s .
18 _______________________________________________________________________ E-mail: [email protected] , www.psc.co.in
S A C H I N S I N H A
Sachin Sinha (FCA) aged about 38 years, is the senior partner of the firm.
He has in hand experience of Taxation, Auditing and Management
Consultancy. He has developed himself in the direct Tax, Corporate,
Secretarial, and Commercial issues. He has successfully completed the
Certificate course of Institute of Chartered Accountants of India on the
subject of International Taxation and Transfer Pricing. Further he has
completed the course of IFA (International Fiscal Association) Delhi
Chapter on the Subject of International Taxation and Transfer Pricing.
SUKOMAL SINHA
He is the most senior partner of the firm and heads the Asansol office of
the firm . He has the rich experience of more than 40 years in the areas
of Financial services , Banking and Insurance sector and other
professional areas. He heads the corporate law practice of the firm and
has been involved in various professional assignment related to the
Merger and acquisition , corporate legal matters , winding up issues and
similar matters.
VANYA BANERJEE
She is one of talented and experienced member of our team and heads
the audit division . She is the qualified Chartered Accountant and has
completed post qualification course on Concurrent audits of Banks and
further has Completed the DISA course of ICAI . She has the post
qualification experience of more than 5 years in the field of statuary
Audits , Internal audits and IFRS matters .
P r a k a s h S a c h i n & C o , C h a r t e r e d A c c o u n t a n t s .
19 _______________________________________________________________________ E-mail: [email protected] , www.psc.co.in
K . T . N R A O
He is a young and talented fellow member of the Institute of Chartered
Accountants of India based at Mumbai and heads the Mumbai Branch of
the firm. He has a rich knowledge in the Taxation, Audits & Finance
related matter. He takes care of client for their IFRS related issues of
corporate client. His focus is on the corporate law related compliance,
SEBI related matters and pre listing & post listing compliance of the
corporate entity.
T W I N K L E J A I N She is an associate member of the Institute of Company Secretaries of
India and enjoys a rich experience in the Corporate Law & other allied law
matters, FEMA matters and SEBI Matters.
P r a k a s h S a c h i n & C o , C h a r t e r e d A c c o u n t a n t s .
20 _______________________________________________________________________ E-mail: [email protected] , www.psc.co.in
Our Offices
Prakash Sachin & Co ,
Chartered Accountants
13 D, Atma Ram Building ,
1 Tolstoy Marg ,
New Delhi -110001
Tel -011-42173536/23355285
Prakash Sachin & Co .
Chartered Accountants
Roopaayan”,
Row house, Plot no 31,
Sector 1, Koperkhairane,
Navi Mumbai, Pin : 400 709
Tel: + 91 22 27547042
Prakash Sachin & Co
Chartered Accountants
The Business Forum
30, Karpenisi Street
P.O.Box: 20533 1660
Nicosia, Cyprus
Tel: +357-22843000
Prakash Sachin & Co
Chartered Accountants
Buddha Road ,
Sekhar Nivas ,
Near Astha Academy School
Asansol
713301
www.psc.co.in [email protected]
skype-prakashsachinca
Court Road, Jamtara
Jharkhand – 815351
Tel: + 91 9308187406